Holistic Peer Comparison Reports
Holistic reporting is a new means of monitoring and comparing retailers and wholesalers across a range of measures, to provide a holistic view of trading party performance. It will assess their performance by drawing from data across a variety of performance indicators, such as Market and Operational Performance Standards and Additional Performance Indicators (APIs).
It supports the Market Performance Committee's (MPC) priority to 'proactively monitor market and individual trading parties’ performance and, using appropriate indicators, to prioritise rectification based on areas of poor performance which have the greatest detriment to customer outcomes.
Why introduce holistic reporting?
The current set of market and operational standards is not leading to the level of improvement needed to address key areas such as data quality, consumption information or settlement accuracy.
The current approach measures trading party performance against individual tasks. We now understand that task-based standards alone do not provide a true representation of market performance.
This new approach is looking to be more closely aligned to customer outcomes, rather than focusing on specific process steps under individual performance measures.
The following indicators will be utilised to determine performance and derive peer comparison:
- Specific key and / or customer driven MPS
- Specific key and / or customer driven OPS
- Additional Performance Indicators (Data Quality, Long Unread Meters, Vacancy & Settlement Actuals Reporting)
- Measure of Experience Surveys
A weighting between 1 - 3 is assigned for each measure; a higher weighting is indicative of the potential impact on customer experience and market. The results are collated to place each trading party within a performance quartile for that area of reporting. The quartiles are assigned according to the levels of performance within the peer grouping. This gives an overall view of each trading parties’ performance across several areas, which allows for a holistic assessment of their performance.
Trading party performance will be assessed by the MPC to provide market insights and decide whether any rectification measures should be put in place.
Holistic Reports are not a replacement for Market and Operational Performance Standards, these will remain in place.
There are seven retailer indicators, please see the list below. For details of the definition, rationale and measurement please refer to the Introduction to Holistic Peer Comparison Reporting document.
- Retailer meter reading
- Long Unread Meters (LUMs)
- Vacancy with consumption
- Data Quality
- R1 Percentage of actual reads
- R3 Percentage of actual reads
- RF Percentage of actual reads
The holistic peer comparison table presents retailer performance against each individual indicator. Performance is split into four performance quartiles.
There are nine wholesaler indicators, please see the list below. For details of the definition, rationale and measurement please refer to the Introduction to Holistic Peer Comparison Reporting document.
- Long Term Vacancy (LTV) percentage
- Legacy LUMs percentage (LLUM)
- OPS metering and verification
- OPS customer service and disconnection
- MPS new connections and meter reads
- Unique Property Reference Number (UPRN) completeness
- Valuation Office Agency (VOA) reference number completeness
- GIS data issues
The holistic peer comparison table presents wholesaler performance against each individual indicator. Performance is split into four performance quartiles.