Designing Your Interval Rate Components
Although your rates will likely contain a combination of interval pricing and time of use pricing, we have separated these topics with respect to walking you through the control table setup.
To set up the rate components that support interval billing, we recommend using the following table as your guide.
RC Type | Bill Factor | Interval Profile Relationship Type | Algorithm | TOU Map Relationship Type |
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Obtain copies of existing bills that use the rate in question. If the rate is new, then write up EXACTLY how the information should appear on the customers' printed bills.
• Next, try to identify the components of the bill that are related to interval billing.
◦ Are any of the lines produced as a result of direct billing? In other words, were interval prices applied to interval quantities?
◦ Are any of the lines produced using interval quantities applied to a fixed price?
Start filling out the table with descriptions of what is needed to produce each line.
• Any line that is produced as a result of taking interval quantities and applying prices will be defined with the "Interval Pricing" rate component type.
◦ This rate component type will require an Interval Profile Relationship Type (which is used to define the source data to price).
◦ A bill factor will need to be defined. This bill factor may contain interval quantities or simple values.
◦ An algorithm, which knows how to apply the prices to the quantities, is needed. The system provides the following rate component algorithms as examples.
RC Type | Bill Factor | Interval Profile Relationship Type | Algorithm | TOU Map Relationship Type |
Interval Pricing | Strike Price | Hedge Cover | Apply prices to quantities assuming a continuous curve | N/a |
Interval Pricing | Spot Market Prices | Amount in Excess of Hedge Cover | Apply prices only to positive quantities assuming a continuous curve | N/a |
Parent topic