Good news: The Berlin-based IT service provider Lumenaza, specializing in energy industry processes, has successfully implemented the electricity price cap on time for suppliers using its Software-as-a-Service (SaaS) platform. This ensures that the relief planned by the German government reaches citizens as scheduled on March 1, 2023.

At the beginning of 2023, the electricity price cap law came into effect. The cap applies retroactively to January and February 2023 and was initially set for the entire year, with an option for extension until April 2024.

Energy suppliers had only a few weeks to implement the complex regulatory price cap within their IT systems. Customers needed to be informed about their individual savings, and their monthly, annual, and final invoices had to be adjusted to reflect the regulatory requirements and relief amounts.

Additionally, the relief amount for all electricity customers had to be calculated and reported to transmission system operators.

Energy suppliers are already facing the next challenge in driving the energy transition forward and providing their customers with affordable, green electricity. The amendment to the Metering Point Operation Act in the first half of 2023 will accelerate the smart meter rollout and enable key tariff innovations, such as personalized time-variable tariffs. Lumenaza will promptly integrate these changes into its SaaS platform.