Dynamic Rate Engagement

Providing the right price signals to customers can generate significant reductions in electricity demand during peak hours. Time-of-use rate plans are designed to offer incentives to shift the residential load curve to more-optimal times of day. Customers accustomed to paying flat rates, however, are often confused by dynamic plans and are thus reluctant to adopt them. To introduce dynamic rate plans successfully, utilities must educate customers about their potential benefits, offer rate evaluation tools, and target them with rate marketing.

With Opower, utilities can efficiently market new rate plans to those customers most likely to benefit from them. We offer tools that match customers with the rates to which they are most apt to switch, and allow users to learn more about rate plans, receive peak-event alerts, and see how changes in behavior can impact their energy savings. Tools like these enhance recruiting efforts and rate-plan acceptance—ultimately resulting in smoother demand curves and happier home energy users.