Last week, Ofgem announced that it was allowing Nexus go-live next on the anticipated date of 1st June, ten years after the project was kicked off in 2007.
What is Project Nexus?
Project Nexus delivers long-awaited changes and updates to the gas settlement system, ‘UK Link’. The changes are intended to bring the system up to date, but also facilitate further updates as the wider smart roll out brings further updates to the way settlement is carried out. It also affects how customers will switch their gas supplier and resolves the current ‘Reconciliation by Difference’ regime of approximating domestic settlement volumes. Gas shippers will therefore be more accurately able to reconcile settled and billed volumes. It has been described by one of the largest suppliers as ‘central to resolving many of the current issues with gas settlement.’
What should I be aware of?
Project Nexus will bring changes to various data flows and registration systems and suppliers should have been working with their system providers over the last few years to ensure systems are ready for the new UK Link updates.
There will be some increase in switching times as the systems go through the change process and some industry data flows have changed slightly – suppliers should see minimal changes as the largest impact is on shippers and transporters.
You can find more information on Project Nexus here.
We’ve been working with our clients over the past few months to ensure they are ready for go live on the 1st June. We’ve held a series of workshops to outline the changes that we’ve implemented in the Junifer system, and outlines the process of switching over ready for Nexus Go-Live. Over the next few weeks we’ll be holding webinars with our customers to carry out further training on how Nexus might affect them.