All market participants can now ensure on-going compliance with the help of managed services for end-to-end compliance management.
It is a known fact that the energy sector in UK is heavily regulated, and the regulatory landscape is complex. New market participants need to go through lengthy and complex market entry processes in order to operate in the market, while existing market participants are subject to multiple on-going requirements contained within legislation, licences and industry codes. Managed compliance services help new and existing market participants (suppliers, brokers, meter operators etc) navigate the regulatory landscape, identify the applicable obligations and help ensure compliance with these obligations.
Existing market participants submit periodic reports and are subject to periodic assessments to show that certain requirements are being fulfilled. Enpaas’ managed compliance services will assist market participants with preparation of these periodic submissions and assessments. Their periodic assessment support will include a gap analysis as well as collation of the required evidence and assistance during assessments.
Reforms as to how the energy market operates are on-going. The industry is getting ready for Faster Switching, Targeted Charging Review and Strategic Micro-business Review. Network Access and Forward-Looking Charges as well as Market-wide Half Hourly Settlement (MHHS) are gathering pace.
Enpaas offers managed services for end-to-end compliance management where they assign a dedicated consultant to each participant and provide bespoke solutions to bolster all aspects involved.
Enpaas can support you in the ever-changing world by:
- Identifying the relevant regulatory obligations and ensuring you are compliant with them
- Supporting you with preparing regulatory submissions
- Aiding you with preparations for industry assessments (e.g., BSC Audit under the BSC, User Security Assessment under the SEC, Information Security and Data Privacy Assessment under the REC)
- Helping you with readiness for Faster Switching, Targeted Charging Review and other upcoming reforms
- Helping you assess how the upcoming reforms e.g., MHHS or broker regulation on the back off the Strategic Micro-business Review will impact you.
With applications like Enpliance & Enspect and expert consultants assisting market participants with industry assessments under the BSC, REC, and SEC like CIO audits, Enpaas is fully equipped to provide end to end compliance management. Their applications uses features like compliance calendar, built-in risk register, complaints management system, ombudsman system, and central document management system to meet industry standards.
“Enpaas compliance services enabled us to pass all our industry audits successfully with no non-conformities for a third year in a row. Thanks to the expert industry consultants and high-tech tools from Enpaas to achieve this year on year,” said Pozitive Group CFO, Ken Campbell.
If you are interested in compliance or audit tools and services, please contact Enpaas at https://enpaas.com/contact-us/
Enpaas has built the technology, infrastructure and expert team to power your energy business forward. Contact Enpaas to find out how their managed services can reduce your costs, increase profitability and help scale up your business: https://enpaas.com/
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