A 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.

A NOTE FROM GRIDX

Same look, different goals!

GridX is always looking for ways to improve how we communicate with our followers, subscribers, and customers. We took a little break from The Rate of Change newsletter to do just that.

Now, The Rate of Change will be directly focused on providing resources to help keep you up to date on what’s new with us and trending topics in the industry. 

Thanks for subscribing and enjoy!

4 QUESTIONS WITH…

Chris Black

As the CEO of GridX, Chris leads the organization in our commitment to partner with utilities and energy providers to transform their businesses and accelerate the clean energy transition. Below are highlights of GridX’s 2023 outcomes and where Chris believes the industry is headed. You can read the full interview here.

1. 2023 was a very successful year for us here at GridX. What are you most proud of?

By far the thing that I’m most proud of is our team. I really feel like we have such strong alignment across the company and we’ve built a culture that is fun to be a part of. Everyone knows what we are doing, why we are doing it, what impact it has, and how what they do creates value. We spent a year and a half really focused on building the right people, processes, and tools to create a really healthy company and now it feels like the best thing I can do is get out of the way and let all of our amazing people do amazing things.

2. Give us one trend to look out for next year as it relates to utility rates & pricing.

We need dynamic rates and prices that reflect the real time mix of renewables on the grid and we need these price signals to drive actions on the demand side. Things like locational and dynamic pricing, combined with prices to devices are the way that the industry is moving in order to extend the life of the existing infrastructure to get maximum efficiency while simultaneously improving the overall customer experience.

GridX is leading this charge with our innovative utility partners, who are the tip of the spear for this new paradigm. It’s an exciting time.
  

3. If you could give one piece of advice for utilities looking to implement or maximize their TOU offerings, what would it be?

It would be “Stop doing it the old way”. Rates are much more complex than they used to be and are only getting more complex. Trying to do this on spreadsheets and running these spreadsheet-based models through a sample of the population just doesn’t work anymore. It doesn’t work from a correctness perspective nor a time to market perspective.

4. You speak with a lot of utility executives. Any common themes from those conversations about what has people excited or nervous in terms of achieving our decarbonization targets?

I think most utilities are both excited and nervous at the same time. I think there is consensus that we have the tools that we need in order to achieve it – largely, but the “how” and “how soon” are the problems. Business model changes, large-scale operating changes, and regulatory changes are going to be required in order to do so.

We have sufficient renewable solutions to make achieving net-zero goals feasible today. But to actually leverage these solutions to fully achieve our goals, more parts of the country need more adoption of these solutions.
  

NEW RESOURCES FROM GRIDX

With Great Power – A Podcast from GridX and Latitude Media

In 2023, With Great Power hit the Top 10 Shows and #1 Business Podcast on Apple Podcasts Charts. Plus we achieved the 200,000 download mark! If you haven’t listened yet, catch up on Season 1 and 2 before Season 3 drops in March. Subscribe to listen wherever you get your podcasts!

Watt in the Grid? Regulatory with Rachel

Rachel Bryant, our Senior Director of Regulatory & Policy Business Development, gives us an inside look into the thoughts of an Energy Lawyer. Read the first five volumes of Watt in the Grid? where Rachel discusses how utilities seek to meet decarbonization targets while also helping customers understand their new power of choosing when to use electricity.

Business Customers Need Improved Communication with their Utility

According to recent J.D. Power 2023 Electric Utility Business Customer Satisfaction Study, customers want and need more proactive communications from their utility. Read how GridX can help.

GridX Analyze 

GridX Analyze allows utilities to evaluate their customers’ bill and revenue impacts from Time-of-Use, electric vehicle, real-time pricing, and other advanced rate structures. Watch our GridX Analyze Feature videos to see how we give utilities the ability to easily compare all eligible rates against each other and see what a customer’s best rate option is.

RATES DONE RIGHT

Digital Transformation of Utility Ratemaking

Digital transformation of utilities is here. The way rates are designed, implemented and billed needs a new dynamic and scalable approach. Dive into the eBook to read how digitized rates set utilities up for future success.

How to Successfully Roll out TOU Rates

There is a rising emphasis on using rates to shift demand and meet the needs of a distributed grid. In this Playbook, discover how PSEG Long Island exceeded expectations with its rate-modernization initiative.

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!

The American Power System is Changing. How Can Electricity Rates Keep Up?

The American power sector is shifting towards cleaner, more distributed forms of energy changing the way we look at rates. Read how experts are taking a closer look at ways to structure electric rates and make them more equitable.

J.D. Power Finds Utility Digital Strategies Not Keeping Pace with Customer Expectations and Behaviors

Websites and mobile apps are the first places most customers turn when they want self-service, have questions, or experience a problem with a product or service. J.D. Power deep dives into how a digital experience is the new wave of customer service.

Texas Utility CEOs Discuss the Transformative Future. Customer Education is a Big Piece.

The modern grid has seen a huge influx of distributed energy resources, and effectively managing them will be a challenge for utilities. Read about how utilities are looking for solutions to aid against the challenges of having enough energy to supply to customers while also meeting their clean energy goals.

Electricity Grids and Secure Energy Transitions

Grids have been the backbone of electricity systems for more than a century, underpinning economic activity by bringing power to homes, industry and services. Download this report to see how the role of electricity will be more prominent, making grids even more important for society and economies.

GRIDX BY THE NUMBERS

2023

Record Year of Growth!

9

New Hires!

4

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!

📍2024 NARUC Winter Policy Summit (Washington D.C.)

📍DistribuTECH (Orlando, FL)

📍SECC Consumer Symposium (Orlando, FL)
📍EEI Spring Key Accounts Workshop (Seattle, WA)

Are rates part of your clean energy strategy?