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

Accessing national electricity rates is key to optimizing energy management programs

Power Engineering | August 2019 | KFR Services

Krishnan & Associates authored the below thought leadership article for KFR Services. Our team has authored around 1000 technical papers and whitepapers for OEMs and technology companies. This article was published in POWER Engineering, and it was distributed among our targeted list of B2B decision makers in the power and energy sector.

The major concern for businesses like hospitals, office buildings, retail stores and industrial facilities is the electricity costs. U.S. Commercial and Industrial (C&I) organizations spend around $130 billion each year on electricity costs. Businesses need accurate information about national electricity rates to understand how to translate their energy use into dollars.

Traditional pricing models based on increasing demand are becoming unsustainable as energy usage decreases due to increased efficiency and conservation measures. This is due to the transition from manufacturing to a service-based economy, strict regulations, and the implementation of energy-efficient technologies. Electricity usage cost can be decreased by many ways like:

  • LED lighting

  • Using efficient office equipment

  • Increase in distributed generation like solar and wind power

  • Energy conservation practices like changing habits

  • Utilization of rate programs like time-of-use rates, demand response programs, and critical peak pricing

Managing electricity rates is a complicated process due to frequent changes and varying rate structures but it can be managed through services like KFR Services’ RateAcuity platform which simplifies the process by providing detailed rate data across the country through their web platform or API. This will allow the businesses to do detailed analysis and optimize energy usages which will lead to cost savings.

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