Our Electricity Rate Engine Suports Contracted Rates in Deregulated Markets
By John Tucker
| Reading time 1 minute
You may have noticed that when running a calculation on a tariff in a deregulated market, there’s a new option available:
Now you can enter your contracted rate or discount whenever competitive electric supply is available! Either enter your contracted rate as cents per kWh (e.g. 7.1¢) or expressed as a discount (e.g. enter 95 for a 5% discount) and let Genability do the rest. If you don’t have a contracted rate, we’ll use the standard rate charged by the distributing utility.
With this new functionality, Genability now covers over 90% of the Residential market and 60% of the Commercial market in the U.S.
We can handle contracted rates because we spent the last several months tagging each individual rate for over 600 residential and general tariffs, labeling each rate as generation or T&D and flagging those rates that are available to be contracted. The result is that when you provide the contracted rate (or discount), Genability knows exactly which rates to override or alter.
This is easiest to see in Explorer, where you can enter your contracted rate when running calculations, creating accounts or running what-if scenarios.
But it’s easy to use in APIs too. You simply pass the rate or discount into the rateInput object with the ‘chargeType’ set to ‘CONTRACTED’ to replace all the rates eligible for competitive electric supply.
So if you work in any of the 16 states where customer’s can choose their electric supplier, log in to Explorer and start working with contracted rates.
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