What is real-time pricing in SAP IS-U-EDM - Energy Data Management?

SAP Term: real-time pricing

• Component: IS-U-EDM

• Component Name: Energy Data Management

• Description: Rate model in which energy requirements are are evaluated according to period. Consumption and demand are measured at certain intervals every 15 or 30 minutes, for example or during certain rate periods such as on- and off-peak periods. The price per kWh of consumption or kW/kVA of demand can vary according to interval. Prices can be set in advance or be based on prices set by the energy exchange. For example, you can define prices so that when a certain consumption limit is exceeded, either a higher price or the current spot price from the energy exchange is used. Real-time pricing enables you to structure rates and prices more freely for different periods, which in turn allows for more freely structured contracts.

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• Key Concepts: 
  Real-time pricing is a feature of the IS-U-EDM Energy Data Management component of SAP. It allows energy providers to set prices for their services in real-time, based on market conditions and customer demand. This helps energy providers to maximize their profits and provide customers with the best possible prices. 
  
  How to use it: 
  Real-time pricing can be enabled in the IS-U-EDM Energy Data Management component of SAP. Once enabled, energy providers can set prices for their services in real-time, based on market conditions and customer demand. This helps energy providers to maximize their profits and provide customers with the best possible prices. 
  
  Tips & Tricks: 
  When setting real-time prices, it is important to consider both market conditions and customer demand. This will help ensure that energy providers are able to maximize their profits while still providing customers with the best possible prices. Additionally, it is important to monitor the market conditions and customer demand regularly in order to ensure that prices remain competitive. 
  
  Related Information: 
  Real-time pricing is just one of the features available in the IS-U-EDM Energy Data Management component of SAP. Other features include energy forecasting, billing, and reporting. Additionally, SAP offers a range of other products and services related to energy management, such as its Energy Data Platform and its Energy Analytics Suite.