Rethinking Utility Rating Engines
The design and execution of customer rates have long occupied a top spot on the utility strategic agenda. The design of utility rates, their successful negotiation with regulators, and how these pricing structures are operationalized within the utility can all have an enormous impact on the overall profitability of the enterprise, as well as on downstream customer value and satisfaction.
In recent years, however, the management of the utility rates environment has become an increasingly complex challenge, requiring a new level of data integration, analysis, and orchestration with other aspects of the utility operations. Some of the key factors driving utilities to transform their rates environment include:
- Increased customer expectations around choice and control
- Increased needs for cost transparency and visibility
- Integration with distributed energy resources and customer programs
- Increased volume and complexity of billing determinants
- Business needs for better / on-demand revenue and profitability reporting
- Conservation and energy reduction initiatives
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