January 2024
Member Spotlight
Throughout 2024, SECC will recognize one member every month, providing an organizational profile and highlighting the member's accomplishments in the smart energy space.
About GridX
GridX is the Enterprise Rate Platform that modern, customer-centric utilities, energy suppliers and technology providers rely on to usher in our clean energy future. Their comprehensive suite of big data rate analytics solutions streamlines the design, implementation and marketing of emerging rate structures and customer programs, increases consumer adoption and investment in distributed energy resources (DERs) and behind-the-meter (BTM) technologies, and manages the complex billing needs associated with these new rates and programs.
GridX has run successful programs with some of the most innovative utilities across the United States, has 26 million smart meters under management, calculates nearly 50 million bills a day and has modeled and validated more than 500 tariffs.
As examples of their work, GridX helped Southern California Edison (SCE) enroll 59 percent of their residential customers on time-of-use (TOU) rates as of August 2023. As an added benefit, SCE achieved significant peak load reduction in August 2022, making it equivalent to the third largest program in their demand response (DR) lineup. PSEG LI also tapped GridX to help deploy their TOU pilot program, and among the successful results was being able to get more than double the targeted number of customers enrolled in the program.
The Digital Transformation of Utility Ratemaking
As the grid becomes more complex and additional clean energy technologies are adopted, tariff design and digital rate processes need to be repeatable and flexible in a way that enables utilities to make changes or construct new rates, as well as quickly operationalize those rates. In addition, rates and business models have become more complex, and this is likely to increase as some utilities pursue highly personalized options.
By digitizing a rate or tariff within the GridX Enterprise Rate Engine, it allows its DNA to be componentized, shareable and reusable. The different departments within a utility that touch a rate – namely rate design, customer and billing teams – all have different systems and processes. Digitization breaks down these silos to allow users from different departments of the organization to share the same tariff model or rate in the same format, which improves efficiency, reduces potential errors and creates a single source of rates truth.
Rates Done Right, Now
GridX products and solutions leverage the GridX Enterprise Rate Engine, which completely replicates the bill calculations created by the utility billing system (CIS). This allows users of our products to have an enhanced “sandbox” to work with the rates, tariff models and customer data that has always been locked within the CIS. With intuitive and user-friendly interfaces, users can quickly perform large scale and complex analysis without any need for programming skills or the need to search and combine multiple data sources. This approach also breaks down departmental silos, allowing for information to flow more efficiently and to maintain data integrity.
Delivering Value Across Critical Use Cases
The GridX Enterprise Rate Engine manages the entire energy product lifecycle across four core use cases:
- Rate Design & Analytics: Build and optimize products that benefit customers and support utility revenue goals.
- Marketing & Conversion: Upgrade or enhance current customer experiences with real-time, billing grade conversion tools.
- Customer Service: Quickly access deep analysis and insights and find the best rates for all customer classes.
- Add-On Billing: Augment legacy billing systems with whole bill analysis and calculation capabilities.
For more information, visit www.gridx.com and follow the company on LinkedIn and X. You can also check out their industry-leading podcast, With Great Power, where they interview the energy industry innovators building the future grid, today.
