A quarterly newsletter from GridX

The Rate of Change is full of insights and best practices for people working to achieve our decarbonization goals. The task in front of us is monumental and GridX wants to be a source of information and inspiration.

FEATURE ARTICLE

A note from Chris Black, CEO 

I was at DistribuTECH in February and if you weren’t there, let me tell you…that is a BIG show. 17,000 people attended, the largest ever for the event. I think the convention center was about a mile and a half long, which was great for getting my steps in but not for how I felt afterwards…a bit exhausted. But also incredibly energized.

I talked to lots of people and they all recognize the value of modern rate structures in decarbonizing and readying the grid for the onslaught of renewables and DERs. And utilities have tons of great ideas for new programs and rates they want to pursue. 

But there’s a problem. Legacy systems are standing in the way of innovation.

I heard from several utility executives that the customer information system is the culprit. Don’t get me wrong, it is and will continue to be the backbone of utility customer operations. But when it comes to getting new rates and programs out to customers in a timely and cost-effective manner, it falls short.

We also heard this from TMG Consulting, which found in a recent report that “utility billing is at a crossroads. While there are advances in core CIS capabilities, today’s market realities demand a more powerful and agile solution to handle the complex billing needs that are cascading across the utility industry.”

Utilities need a workable approach in order to make an impact. They need rates done right… now. We’d love the opportunity to show you what that looks like. You can also check out the TMG report to learn more.

4 QUESTIONS WITH…

Shawn Cherian

Partner at Energy Impact Partners (EIP), a global venture capital firm investing in the transition to a net-zero carbon economy. GridX is proud to have EIP as one of its primary investors. Below are highlights from our conversation. You can read the full interview here.

1. Tell me a little about what kindled your passion for the energy industry. Why invest in the space?

On a personal level, I fundamentally believe the overarching thesis around decarbonization with climate technologies being important to all humanity. It touches everybody and if I can be a part of that, especially working with emerging companies that are highly disruptive, I can have a disproportionate impact on something that will continue to touch so many different people in a myriad of ways.

2. EIP is unique in its approach to investing. Can you tell us a little about EIP and what makes it unique?

The foundational element that defines EIP is our strategic partners. This industry is complicated and to make impactful progress towards decarbonization, it needs to be done through collaboration. We bring together strategic partners in both the utility and industrial sectors that are willing to innovate with brilliant     entrepreneurs and help them drive change towards a more sustainable future. These relationships are core to this model and has enabled us to build a unique platform that helps emerging companies thrive.

3. There is a lot of talk about an impending recession. Curious to get your opinion on how deep you think it might go. Is the energy industry more or less resilient in a recession? And how does a recession influence and/or impact EIP’s investment strategy?

With regards to how it impacts our investment strategy, we’re very long-term believers in our companies and in the energy ecosystem. There is always going to be an ebb and flow to the market. The beauty of our model is we take long-term bets on companies, so we’re not as focused on the near-term impacts to our portfolio. Rather, we focus on the longer-term trends that are going to define this industry and those trends are going to persist in every environment.

4. I’ve heard some utilities say when it comes to decarb, they’ve got 90% of it figured out. It’s the last 10% they worry about and need innovations in tech to achieve. Does any particular tech stand out that you think can be a significant part of that 10%?

Well, obviously GridX. As part of EIP’s strategy, we work with companies across different parts of the value chain that are working to decarbonize. So, I think the last 10% is ultimately going to be solved in a lot of different ways. Secure supply that is affordable will be key. Then it comes downs to technologies such as rate analytics software like what GridX has pioneered. You will also see that energy in different forms will play a role, whether its solar, wind or storage.

CUSTOMER NEWS

GridX Empower has gone live at a large California Investor Owned Utility (IOU). In partnership with Uplight, GridX delivered 7 APIs to enable the utility’s portal for commercial, industrial and agricultural customers. It will allow them to accurately communicate a business’ clean energy and rate options, and the related financial impact.

A utility in the Pacific Northwest selected Uplight and GridX to support an impending TOU pilot. GridX Empower will provide detailed analysis to help recruit, enroll and guide customers through their TOU journey by showing them how their energy bills will be impacted by different rate plans and how they are performing after they have enrolled in the rate. The program is expected to go live in Q4 of 2023.

A large IOU in California selected GridX to assist with a number of innovative pilots and programs related to Electric Vehicles (EVs). In one, the utility is working to determine the feasibility of having EVs supply energy to the grid while managing the real-time dynamic price signals that are reflective of the local conditions of the distribution system. As part of this effort the utility is opting not to implement the rate in its traditional CIS but instead uses GridX to produce complex rate calculations needed to support a burgeoning new program.

RESOURCES FROM GRIDX

With Great Power – A Podcast from GridX and Post Script Media

Have you listened to our new podcast? It’s about the people building the future grid, today. Each episode features stories about the technology, climate, security, and economic shifts that are reshaping utilities and the electricity system. So far we’ve had amazing guests from Duke Energy, Enetrgy, Austin Energy, Ameren, SMUD and more. Give it a listen and subscribe today.

Bringing Stability to the Shifting Complex Billing Landscape

We commissioned TMG to examine the shortcomings of the CIS in handling the complex billing needs of an evolving grid. Because rolling out innovative programs that benefit customers and aid in achieving decarbonization efforts shouldn’t suffer from the inability of existing systems.

How Modern Rate Structures Achieve Utility Strategic Objectives

In this informational playbook, we examine how modern rate structures can aid in decarbonization efforts by influencing when customers use energy and in a way that benefits them and the power system overall. It also examines PG&E’s experience as a blueprint for a successful roll out.

An Animated Look into the Results We are Delivering for Utilities 

The GridX Enterprise Rate Platform is helping utilities get more people on the modern rate structures required to decarbonize. Check out just a few of the results we’re helping provide for our customers in this slick animation that was produced in partnership with CPR Interactive. 

ComiX

It’s funny because it’s true.

WHAT WE’RE READING

There are so many books, podcasts, blogs and more that get us thinking. So, we thought we’d share a few. Here is a sampling of what is inspiring us. We hope you enjoy these as much as we did and will share your favorites with us as well. Happy consuming!

5 Ways Devops Can Reduce Energy Consumption 

The first step in energy reduction is power monitoring and measurement. Companies can influence and contribute to your organization’s sustainability goals by finding innovative ways of measuring and reducing energy consumption through cloud and automation based technology.

Overcoming the Contemporary Malaise of Energy Poverty

Energy poverty is a persistent and pervasive issue that affects both industrialized and developing nations, over 770 million people worldwide continue to lack access to electricity. Investing in innovation in sustainable energy are robust ways for this country to alleviate its energy crisis.

Energy Secretary Jennifer Granholm Preaches Clean Energy Gospel

United States Energy Secretary Jennifer Granholm is on a mission to restructure the U.S. economy with cleaner, greener technologies. Read an exclusive interview on how she is increasing efficiency and transforming the energy industry. 

Listen Ahead to the Energy Transition in 2023

Energy Evolution co-hosts Dan Testa, Allison Good and Taylor Kuykendall are veteran journalists with broad expertise covering the utility, oil and gas and mining sectors. Listen to their opinions on where the energy industry is going in the year ahead.

GRIDX BY THE NUMBERS

Highlights from the last few months

3

New Customers & Partners

37

New Members of the GridX Team

5

The number of industry events we are going to be at in the next few months. If you’re attending as well, let’s connect!

• 📍 SEW Digital Energy & Water Roadshow (Atlanta, GA)
  📍Energy Thought Summit (Austin, TX)
• 📍 PLMA Conference (Memphis, TN)
• 📍CS Week (Charlotte, NC)
• 📍Uplight Customer Connect (Denver, CO)

Are rates part of your clean energy strategy?