Rate Engineering is the most effective approach to developing new rates that achieve utilities’ financial and policy goals.
Traditionally utilities have developed rates by leveraging energy consumption data from a fraction of sample customers, known as the sampling approach. This rate design approach often introduces significant sampling error. As rates become more complex, the sampling error increases. Read more about sampling error in our ‘Church Design’ article.
The GridX Rate Engineering approach has revolutionized utility rate design. By using interval data from the whole customer population, and simulating the financial performance for a large number of rate design parameters, Rate Engineering has been proven to be the most effective approach to developing new rates that achieve utilities’ financial and policy goals.
Rate Design Product
The GridX Rate Design Tool (REAT) enables utilities to develop, evaluate and optimize rate designs by using whole customer population energy consumption data without the need for sampling.
Whole Population Rate Analysis
Whole Population Rate Analysis is the process of calculating bills for an entire utility’s customer population.