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Quote Lab - The Exotic Electricity Pricing System

Out of the box - not black box

Quote Lab provides an 'out of the box' solution to support retail electricity suppliers that is delivered as an integrated component of EDW’s Energy Retail Suite, ERS, or as a standalone module.

Unlike any other electricity pricing system available Quote Lab, electricity quoting software, provides your users with complete visibility of the pricing structures and calculations for each quote. This gives you a comprehensive audit trial so that you have confidence in your price computations and the margins they will deliver.

Exotic pricing capability

Do not let your sales capability be restricted by your technology capability. Quote Lab is a flexible workflow-driven tender management, pricing and electricity quoting software application. Quote Lab provides you with fully configurable quotation and price management for your fixed, pass-through and flexible pricing requirements. An individual quotation can include meters from both the HH and NHH market sectors.

Reduce your pre-sales and registration cost

Users of the EDW electricity pricing system can take advantage of menu-driven cost parameters, flexible contract terms and integrated forecasting allowing them to quickly and accurately produce single or multiple offer quotations for customers and prospects either directly or via Third Party Intermediaries (brokers).

Once generated individual quotations can easily be adjusted throughout the prospect negotiation cycle using pre-determined sales tolerances and/or escalation authorisation rules with a full audit trail. This maximises the probability of your business winning contracts whilst minimising the cost of sale. Importantly, account managers are provided with full visibility of contract details, current status and all negotiation iterations, allowing you to provide high levels of customer service.

Once the deal is confirmed contract set up and registration is initiated by the click of a button along with feeds to your energy trading position management systems.

Quote lab will significantly reduce your pre-sales costs and administration costs of contract setup and registration by providing a single point of entry with workflow supported tender management business processes.

Aligning quoting & billing attributes

If you can quote it you can bill it – guaranteed. When used as part of the ERS software suite Quote Lab ensures that the individual quote lines are seamlessly transposed to individual bill lines in the billing system, meaning that your pricing experts are not limited by the functionality of the electricity billing system. This removes the business overhead of having to maintain and synchronise static data for separate pricing and billing systems and at the same time ensuring the consistency of input data used for pricing and billing.

Supporting NHH, HH and UMS types

Quote Lab supports NHH, HH and UMS markets providing full electricity quote-to-bill contract lifecycle management including:

  • A data repository capable of storing and versioning the various elements of data required to calculate a price
  • A forecasting module capable of validating historic consumption data and forecasting future consumption
  • Pricing capability to generate flexible, accurate and up-to-date prices for a requested quote
  • Quoting capability to manage and publish quotations for NHH, HH and UMS electricity supply points
  • Management reporting to support the quoting process
  • Capability to enable renewal opportunities to be prospected, quoted and fulfilled
  • Capability for deemed contracts to be priced

Quote Lab is easily configured to include forward tranche prices, base load power purchases and/or fully flexible traded product options, deemed contract pricing and Unmetered fixed pricing.

Bespoke pricing products to support your sales team

Quote Lab supports standard, pass-through, variable and exotic pricing to include:

  • Flexible products - vertical tranche, horizontal tranche
  • Renewable energy support - percentage, technology type (including multiple types) and identified source
  • Support for regulatory and statutory costs (e.g. FiT Spill, Renewal Obligation, and Climate Change Levies)
  • Risk mitigation factors and premiums (e.g. imbalance charges imposed by the balancing operator)

Bespoke costs elements

Quote Lab supports the following Price Model cost elements in pricing the various market products:

  • Wholesale Cost of Energy (identifiable at Metered Consumption, Distribution Losses and Transmission Losses levels)
  • CfD Operational Levy
  • CM Settlements Levy
  • Combined EMR Levy
  • TNUoS & Small Gen Discount Cost
  • DUoS Unit Cost
  • BSUoS Costs
  • AAHEDC Costs
  • Renewables Obligation Cost
  • Payment Terms Cost
  • Feed in Tariff Cost
  • Residual Cashflow Reallocation Charge (RCRC) Costs/Benefits
  • TPI Unit Commission
  • Imbalance Fee
  • Renewable Uplift Costs
  • Sales Margin
  • Renewable Margin
  • CHP Margin
  • Flexi Shape Premium
  • Deemed Shape Premium
  • DUoS Fixed Cost
  • DUoS Availability Charge Cost
  • Metering & Settlement Cost
  • Climate Change Levy
  • TPI Fixed Commission
  • New Connection Fee
  • Elexon Settlement Charge

The cost elements outlined above are specific to each product configuration; there are some costs that are always included in the calculation of a price for a quote. These costs are:

  • AAHEDC Costs
  • Renewable Obligations Costs
  • Feed in Tariff Costs
  • RCRC Costs/Benefits
  • Sales Margin
  • Imbalance Fee
  • Climate Change Levy
  • Elexon Settlement Charge

There are some costs that may or may not be included in the calculation of a price for a quote, dependant a variety of factors such as the product or circumstances that are specific to a certain customer. These costs are:

  • DUoS Unit Cost
  • DUoS Fixed Cost
  • DUoS Availability Charge
  • BSUoS Costs
  • TNUoS & Small Generator’s Discount
  • Wholesale Cost of Energy

Quote Lab assigns configurable transaction codes for each of the above cost elements which are transferred through to billing on quote acceptance and ultimately through to the accounting general ledger to facilitate the analysis of sales by transaction code (cost elements).

Bespoke pricing forecasted HH energy

Quote Lab is able to create demand forecasts for a customer/contract.  Quote Lab is configurable to allow different historical and current data elements (e.g. meter readings, consumption volumes) to be used upon which calculations can be applied based on business rules to generate future demand curves.  Quote Lab is configurable to allow forecasting for different future time scales as prescribed by the business and use these forecasts to create new quotes for either existing customers on renewal or new customers.

To calculate a price for the Cost Elements detailed above, various volumes of forecasted energy must be identified, which are derived from the customer’s recent history of consumption. These  include:

Metered Consumption

The forecast of energy expected to be recorded at the metering point. For the purposes of billing, this volume of energy is based directly on the consumption received in D0036 dataflows.

Distribution Losses

The forecast of energy expected to be lost in the distribution network. For the purposes of billing, this volume of energy is recorded based on the prevailing Line Loss Factors.

Transmission Losses

The forecast of energy expected to be lost in the transmission network. For the purposes of billing, transmission losses is recorded using a simple percentage value of the Metered Consumption + Distribution Losses. This percentage may be agreed with the customer and fixed for the entirety of the contract term, or treated in a similar manner to that of pass-through charges, in which the factor is variable throughout the duration of the contract.

The three volumes above are used to identify a forecast of expected usage at the following three points of delivery:

1) Energy at the Metering Point
The amount of energy delivered to the customer’s metering supply point, excluding the energy lost whilst being transferred along the transmission network (Transmission Losses) and distribution networks (Distribution Losses).

2) Energy at the Grid Supply Point
The amount of energy delivered to the grid supply point (the point at which the energy leaves the transmission network and enters the distribution network), less the energy lost whilst being transferred along the transmission network.

3) Energy at the Notional Balancing Point
The amount of generated energy that is used for trading purposes, excluding any losses.

Bespoke pricing agility

Quote Lab has the agility to respond to external market (daily/hourly) and internal business changes without unnecessary impact on offer output production.

Bespoke pricing configurable

Quote Lab is a highly configurable electricity quoting software application to support change in market trends and product innovation. Your business users are able to define any number of Price Model Elements and through configuration define how the element should be used in the calculation of a price.

Bespoke pricing clock regime

Quote Lab supports "time" defined in two ways:

  • UTC (also commonly referred to as GMT) and
  • Clock Time

Tariff based pricing

The ERS electricity pricing system supports fixed tariff based pricing (NHH SME) by means of ‘point of sale’ user interfaces catering for:

  • Call centre operations (telesales) – ability for users to capture prospect information, enter consumption data and make verbal offers
  • The ability to clone offers to provide pricing based on various contract lengths (1, 2, 3, 4 and 5 years) without the requirement to re-enter data
  • The ability to capture all quote offers and produce quote offer documentation that can be emailed, faxed or mailed to the prospect
  • The support of verbal contracting of a customer, providing the agent with call scripts to support this process and capturing the customer’s authorised person, together with date and time of the verbal transaction
  • Production of offers and quote acceptance documentation, clearly identifying that the sale was conducted by way of a verbal authorisation

Capitalise on every sales opportunity

With constantly changing market prices and increasingly demanding customers and their brokers, selling energy profitably requires accurate pricing. Quote Lab will enable you to automate and execute your customers pricing requests, adapt quickly to market conditions and profitably grow your customer portfolio within a manageable and identifiable degree of risk.

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