Transition to TOU Rates

With TOU Transitions, every aspect of the rate product life-cycle, including rate design, rate marketing, billing and customer engagement requires a revenue grade billing and analytics engine.

Challenge

The TOU rate is one of the new utility product innovations in recent years. Transitioning to TOU rates requires utilities to use interval data across the Rate Life Cycle and revamp all of the related business processes to take advantage of the large volume of fine granularity interval data. TOU rates are substantially harder to design, more challenging to engage and market to customers, and finally more difficult to bill.

Solution

GridX BOS Cloud provides a turnkey suite of applications to streamline and upgrade the business processes across the utility Rate Life Cycle. Developed as a suite of Big Data applications, the BOS Cloud enables utilities to develop new TOU rates with all customers’ interval data without the need for the sampling In addition, customers can be billed using interval data without the need to pre-aggregate it into billing determinants. As a result, utilities can engage and serve customers with compelling interval-based cost and rate analyses.

Outcomes

  • Better rate designs to achieve business and policy goals
  • More effective personalized Rate Marketing for broader customer adoption
  • Faster Time-to-Market with more efficient rate implementation
  • Reduced billing costs and improved accuracy
  • Improved customer engagement and satisfaction through new digital experience
  • Faster product and service innovation through integrated supports for the complete Rate Life Cycle

Why GridX

GridX provides a complete turnkey solution designed to support and streamline Time-of-Use (TOU) rate transitions. The solution, proven through multiple utility TOU rate transitions, is the Toolbox-of-Choice for leading utilities undergoing rate and business model transformations.  

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