Six years into the UK smart meter rollout for business sites, roughly 64% of non-domestic meter points are now SMETS2-enabled. That number will climb sharply through 2026 as Ofgem's market-wide half-hourly settlement (MHHS) regime begins to take effect.
Here's what UK businesses need to know, what the rollout means for billing, what the install actually involves, and the questions worth asking your supplier before signing your next contract.
What MHHS actually changes
Today, most business electricity bills are calculated on an estimated profile, your supplier assumes when you used electricity based on a generic load shape for businesses your size. MHHS replaces that with actual half-hourly readings from your smart meter.
For the average UK SME this means more accurate billing, no more catch-up bills, and access to time-of-use tariffs that can shave 5-15% off your electricity costs if you can shift consumption away from peak hours.
Free installs, but only with a switch
Most major UK suppliers will install a smart meter free of charge as part of switching your supply contract. The install takes 60-90 minutes per meter point with a 20-30 minute supply interruption.
If you're not switching, some suppliers will still install a smart meter, but lead times can stretch to 6 months. Switching is usually the fastest path.
Questions to ask before signing
1. Is the install free as part of the contract?
2. Is the meter SMETS2 (not SMETS1)? SMETS1 may lose smart functionality if you switch.
3. Will the supplier guarantee monthly billing on actual reads rather than estimates?
4. Does the tariff include time-of-use options to take advantage of HH settlement?
Priya Mehta
Metering Operations Lead
Part of the Scottish Prime Energy procurement team, 500,000+ UK businesses switched, £150M+ saved.