What is time-of-use definition in SAP IS-U-MACO - SAP for Utilities Marketing Communication?

SAP Term: time-of-use definition

• Component: IS-U-MACO

• Component Name: SAP for Utilities Marketing Communication

• Description: SAP for Utilities Market Communication A master data object that contains information about the switching times for registers. Time-of-use definitions are uniquely identified by a service provider and a time-of-use code, and have time-dependent versions.

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• Key Concepts: 
  Time-of-use definition is a component of the IS-U-MACO SAP for Utilities Marketing Communication. It allows utilities to define different rates for electricity consumption based on the time of day. This helps utilities manage peak demand and optimize their energy usage. 
  
  How to use it: 
  Time-of-use definition can be used to define different rates for electricity consumption based on the time of day. This can be done by setting up different rate plans for different times of the day, such as peak and off-peak hours. The rate plans can then be applied to customers’ accounts, allowing them to pay different rates depending on when they use electricity. 
  
  Tips & Tricks: 
  When setting up rate plans, it is important to consider the needs of customers and the goals of the utility. For example, if the goal is to reduce peak demand, then it may be beneficial to set higher rates during peak hours and lower rates during off-peak hours. 
  
  Related Information: 
  Time-of-use definition is just one component of the IS-U-MACO SAP for Utilities Marketing Communication. Other components include customer segmentation, pricing, and billing. All of these components work together to help utilities manage their energy usage and optimize their customer service.