1 – Regulatory requirement
Obvious? Yes … But remember this is also a chance for you to question your requirements.
2 – Meter Data is more critical than you think
Your meter data management system is going to be connected to many of your systems (billing, settlements, trading, portals, etc.) 5 minute settlement will likely extend to these parts of the business, resulting in impact-across-the-board.
3 – Think about the future, not just the upgrade
The nature of meter data management within utilities has changed over the last 10 years but many businesses are running legacy systems that are preventing them from innovating. This is the perfect opportunity to consider your future capabilities.
4 – Opportunity to better leverage cloud
You may already be there, or you be considering a cloud strategy. Given the demand for scaling & processing large amounts of data, a cloud-based meter data management system to support 5 minute settlement is a chance to begin or further your cloud journey.
5 – Consider a minimalist impact option
Unless you are planning to change your tariffs and move away from the current 30 minute intervals, you may not need to alter your billing systems at all (or their associated data management components).
Have you considered a solution that manages 5 minute, yet feeds 30 minute data?
Don’t get caught thinking you need to exhaust more than what is necessary in order to become 5 minutes compliant.
Get in touch with us today to discuss our cost-competitive 5-minute solutions for your Billing, Meter Data Management and Market Layer software.