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Mar 14, 2023 HData Team

Electric Price Analysis: Benchmark and Analyze Electricity Prices

The HData Platform has recently launched a new Insights app called Electric Price Analysis. This app allows customers to assess the underlying elements of electricity prices via utility revenues, volumes sold, and customer classes every month. This app allows customers to easily benchmark against any utility reporting to the EIA and along state and regional averages.

Electric Price Analysis app solves a common problem for customers previously required to compare pricing information between utilities manually. The app provides automatic visualization of price information for all US-based utilities, making it easy to conduct a comparative analysis.

The app also answers key questions such as which utilities have higher or lower pricing to state, regional, or peer averages, whether there are any spikes in prices, and when they are happening from real-world events such as rate cases. Additionally, the app helps utilities to stay competitive on prices as external economic pressures impact companies and ratepayers.

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Electric Price Analysis Driver offers several key capabilities, including benchmarking of companies against state and regional averages of electric prices based on residential, commercial, industrial, transport, and total retail prices. The app also allows customers to easily dive between annualized and monthly price data from the EIA Form 861 and 861M, analyze by service type, and compare a benchmarking company or group of companies against regional averages and their custom peer group. Customers can also see trends back to January 1990.

This app is helpful for regulated utilities, regulators, and advocacy groups:

  • Regulators can use Electric Price Analysis Driver to oversee and potentially expose abnormal pricing.
  • While advocacy groups can create call-to-actions from the insights gained through the app.
  • Regulated utilities can ensure pricing stays within reasonable bounds within peer groups, states, and regions.

In conclusion, Electric Price Analysis Driver is a valuable addition to the HData Business Intelligence Platform. This app allows customers to assess underlying elements of electricity prices, benchmark against state and regional averages, and analyze trends from the past 30 years.

It is a valuable tool for regulators, advocacy groups, and regulated utilities to stay competitive and ensure reasonable pricing. The app is available for export and can create insightful reports for static decks and interactive features for heavy data users.

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Published by HData Team March 14, 2023