GridX

About GridX:

GridX is transforming how utilities manage electricity pricing and demand with its advanced real-time software platform. The company was founded to simplify energy management and enable utilities to provide dynamic, data-driven pricing that reflects the true energy cost. By providing utilities with software to manage the entire lifecycle of electricity rates, GridX helps both consumers and energy providers save money while creating a more resilient and sustainable grid. GridX leverages up-to-the-minute data from smart meters and billing systems to provide comprehensive pricing and energy usage insights, allowing utilities to operate with increased efficiency.

Problem:

The pressure on the power grid intensifies as electricity demand continues to rise, especially with the increased adoption of electric vehicles and electrification of homes and businesses. During peak energy demand periods, utilities often rely on expensive, carbon-intensive energy sources to meet demand, leading to higher costs and increased emissions. However, most customers are unaware of how their energy usage patterns can affect their bills or the overall strain on the grid. Utilities need better tools to both inform and incentivize consumers to shift their usage to off-peak times, which would help reduce the need for costly and dirty “peaker” power plants and lower emissions.

Solution:

GridX solves these challenges by providing utilities with a sophisticated platform that enables them to deliver real-time, demand-based pricing data to their customers. The system helps utilities implement flexible pricing structures that incentivize consumers to shift their energy use to times when the grid is under less strain—typically off-peak hours. Utilities can now easily communicate these pricing signals and insights to their customers, offering incentives and education that encourage smarter energy choices. GridX integrates everything from rate design and analysis, to the marketing and billing of that rate, ensuring utilities have the data and tools they need to make informed decisions and share valuable insights with their customer base.

Impact:

One of the biggest barriers to widespread electrification—whether it's electric vehicles (EVs), solar, or heat pumps — is the uncertainty around costs. Many consumers hesitate to invest in these technologies because they are unsure about the long-term financial impact, especially when it comes to ongoing electricity costs. For example, while EVs can offer significant environmental benefits, the upfront cost of the vehicle and the ongoing cost of charging can be a major deterrent. 

GridX directly addresses these cost concerns by providing utilities with the data and insights they need to help customers understand how electrification will affect their bills. By enabling utilities to offer real-time, demand-based pricing, GridX allows consumers to see how shifting their energy use—like charging their EVs or using heat pumps during off-peak hours—can significantly reduce their costs.

In essence, GridX makes it possible for consumers to use more electricity, but at a lower cost, by ensuring they’ve charged during times when electricity prices are at their lowest. This alleviates one of the main fears surrounding electrification: the concern that switching to electric devices will drive up utility bills. By making electrification more affordable, GridX helps unlock the adoption of EVs, heat pumps, and other electrified devices, accelerating the transition to a more sustainable energy future. It’s a crucial step in enabling consumers to embrace cleaner technologies without the looming worry of sky-high costs.

Examples:

GridX is working with utility companies across the country to implement their software platform and help inform customers about their rates and the cost of electrification. Through its efforts, one East Coast utility transitioning to time-of-use (TOU) rates saved participating customers an average of 10% on their bills and shifted 4-5% of electricity load out of the peak. Another utility in California worked with GridX to implement a rate specially designed for customers that had electrified - whether through adopting electric vehicles, heat pumps, etc. That rate has a 97% retention rate and has helped multiple customer classes save money even as their usage increased.

One-Minute Call to Action:

When electricity demand spikes, it puts pressure on the grid, and costs go up for everyone. But did you know that by shifting when you use electricity, you can lower your energy bill and help ease the load on the grid? Utilities can now better communicate with their customers to help them make smarter, more cost-effective energy decisions. Find out more about how your utility is using dynamic pricing to help you save money and support a cleaner, more resilient energy grid.