It’s no surprise that the utility sector was not spared the havoc wreaked by COVID-19 on nearly every industry in 2020. In the case of energy utilities, there was a negative trifecta of sorts, causing them to generate revenue far below forecasts. Will 2021 see an effort by those utilities to recover some of their... Continue reading→
From Flame to Fission: The Evolution of Energy Production
Lightning strikes. A resounding crash echoes through the forest, and a flaming crack splits the length of a towering Oak. As the tree burns and the animals flee, a solitary figure strides hesitantly forward out of the darkness. The figure, cold and shivering, carefully approaches the burning tree and reaches out his hand to... Continue reading→
Time of Use Rates and EV Charging
Even though many industries struggled in 2020, Electric Vehicles have managed to increase their market share of new car sales around the world. In the United States, EV sales rose 9.9%. In the UK, EV sales tripled even though car sales as a whole declined to the lowest since 1992. Most impressively, 54% of Norway’s... Continue reading→
RateAcuity Customer Spotlight
Several of RateAcuity’s customers work as Energy Consultants, filling a vital role for many businesses with their expertise on the energy industry. They work to help companies reduce their utility costs by analyzing market trends and rate fluctuations, and they can achieve substantial savings for their clients. Energy Edge and Burton Energy Group are two... Continue reading→
Forecasts and Trends for Electricity Rates in 2021
Electricity rates are partially dependent on which of various energy sources, such as oil, gas, coal or nuclear and renewable sources, are used to generate power in your area. Electricity rate trends can vary greatly depending on region or state. For example, Idaho has low retail rates because much of the state’s energy is generated... Continue reading→
What Is a Kilowatt-Hour (kWh)?
The term kilowatt-hour commonly arises in conversations about electricity. While this unit of measurement is used every day in the utilities industry, many people are unsure of what it is and how it works. So, what exactly is a kilowatt-hour? A kWh is a unit of measurement that is equal to the use of 1,000... Continue reading→
Data Accuracy Errors
As I mentioned in my previous post regarding beginning the RateAcuity data accuracy program, we know no one is perfect and errors in the RateAcuity database will be discovered. Unfortunately, some errors have already been found. Having a customer find errors in the RateAcuity database has caused me some sleepless nights, but I want to... Continue reading→
Why Electricity Prices Fluctuate
Anyone who’s compared their energy bills knows that electricity prices can fluctuate from month to month. But why is that? And what determines electricity prices in the first place? The cost of energy fluctuates so much that prices actually update by the minute, and you can find significant differences across locations. For instance, state electricity profiles... Continue reading→
Commercial Energy Management Trends
Commercial Energy Management Trends In the business world, it’s essential to manage your energy consumption carefully so you can streamline your budget and implement sustainable practices. Staying informed about commercial energy management trends and taking advantage of available data can help you do so. The Importance of Commercial Energy Management Why is it so important... Continue reading→
RateAcuity Data Accuracy Program
In my last post I mentioned starting a tracking program so we can report our data accuracy to our customers and potential customers. I am excited to share with you that our program is underway! There were quite a few details to take into consideration when designing our accuracy program. Luckily for us we were... Continue reading→