Are Time of Use (TOU) Rates really that hard to understand? For most consumers, the answer is yes. With utility companies introducing new rate types, selecting the best rate based on when you use energy can be complicated and confusing. Powerley is proud to announce the launch of our new Rate Simulator feature, a powerful tool that helps customers choose the rate that fits their needs based on how and when they use energy.
We understand that selecting a rate plan can be challenging since everyone’s needs are different, especially with the different peak periods of a rate and the cost per kWh varying significantly between “On-Peak” and “Off-Peak” hours. Our Rate Simulator feature allows customers to use their past consumption data to visualize how different rate plans will affect their bills based on their consumption habits.
Visualize Rate Selections and Energy Costs
The Rate Simulator is the latest feature added to DTE’s Analyze My Bill experience, helping customers understand the details behind their bill. While many communications attempt to explain the specifics of a new rate, we know that descriptions alone do not completely allow customers to understand what rate might be best for them. That’s why we created the Rate Simulator, which provides customers with a simple visual way to compare different options and select the most suitable rate plan.
The Rate Simulator becomes even more powerful when combined with other simulated changes to energy consumption. For example, customers can see how their bill will be affected when changing rates and purchasing a new refrigerator or electric vehicle. By building a better understanding of the impact of different decisions, customers can take control of their energy bills without costly surprises.
(Note: Graphic animation for presentation purposes only. Not a representation of the Rate Simulation tool.)
Aiding Utility Companies in Better Serving Their Customers
The Rate Simulator isn’t just beneficial for consumers. It can also be a valuable tool for utility companies. With the Rate Simulator, consumers can make more informed decisions about their energy consumption, leading to more predictable and stable demand patterns. This can help utilities better manage their grids and reduce the need for costly infrastructure upgrades.
At Powerley, we understand the challenges that utility companies face in today’s ever-changing landscape. That’s why we are committed to providing innovative solutions like the Rate Simulator that can help utility companies engage with their customers and empower them to take control of their energy consumption.
If you’re a DTE electric customer, you can explore your rate options with the Rate Simulator by logging into your online account at dteenergy.com and clicking, “Analyze My Bill,” and then select “Bill Simulator” from the navigation options listed in the header (as shown below).
VICE PRESIDENT OF SUPPLY OPERATIONS AND DELIVERY AT POWERLEY
JASON SIELOFF