Technical Article, Thought Leadership & Public Relations for the Energy & Power Industry

Accessing national electricity rates is key to optimizing energy management programs

Electric Light & Power | August 2019 | KFR Services

Krishnan & Associates specializes in content creation and development, creating a variety of thought leadership articles, whitepapers, and technical papers for the energy and power industries. Our work aims to provide market intelligence and energy market analysis to industry professionals so that they can stay informed and make strategic decisions. The whitepaper below, written for our client KFR Services, shows our expertise and it was widely distributed among decision makers, subject matter experts, and industrial professionals to inform them about critical issues and advancements in this field.

Accessing national electricity rates is critical for maximizing energy management programs in a variety of industries, including hospitals, retail stores, commercial office buildings, and industrial sites. In the United States, Commercial and Industrial (C&I) enterprises spend approximately $130 billion each year on electricity. Energy managers want accurate and easily accessible energy pricing in order to successfully monitor and manage costs.

Traditional electric rate plans predict that consumption will continue to grow, but actual usage by end consumers has been flat or dropping, this is likely because of increased energy efficiency and conservation efforts, supported by the transition from a manufacturing economy to a service-based economy, the use of energy-efficient technologies such as LED lighting, and updated building standards such as the American Society of Heating, Refrigerating, and Air-Conditioning Engineers Standard 90.1.

Furthermore, distributed generating, such as solar and wind power, has helped in reducing electricity demand. These changes will need the implementation of new rate structures like Time of Use rates, demand response programs, and critical peak pricing, all of which will encourage conservation and cost savings.

Given the complexities of rate structures and frequent changes, utilizing a rate service such as KFR Services' RateAcuity platform can make the process easier. The platform provides nationwide rate schedule data, allowing enterprises to examine trends, compare rate options, and achieve considerable cost savings through energy efficiency initiatives.

Written by K&A on behalf off KFR Services for publication in Electric Light & Power