Everything Ahmad Farooqi said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Farooqi: Net-zero is "dead on arrival" without active customer participation
“Without customer involvement, this net zero business is dead on arrival.”
Farooqi: Outside retail aggregators understand customers far better than regulated utilities
“These companies understand customers a hundred times better than regulated utilities. They have come in from the outside. They know how to talk and communicate to customers and do the pricing in a way that the customer says, oh, I see, this will lower my bill,…”
Farooqi: Data from 400 implementations links higher savings to greater peak reduction
“The data that Scott was referring to that I had developed in my previous career we had data from 400 implementations of time varying rates across the globe. And what we found was that the bigger the savings opportunity, the more will be the reduction in peak l…”
Farooqi: Poor marketing will kill even the best electricity rate design
“As I said, you can have the best rate design and market it poorly, and nobody will take it. And you're going to have the worst rate design and market it effectively, and everyone will take it.”
Farooqi: The utility regulatory model is risk-averse and not customer-centric
“The problem with our regulatory model, unfortunately, is again the issue. It is very risk averse, and it's very revenue focused. It is not customer centric.”
Farooqi: Most utility time-of-use rates enroll only 1-2% of customers
“We have seen a lot of interesting attempts to innovate rates over the last two decades, and a lot of them unfortunately fall in the category of doing a checklist. Oh, we're going to offer a time of use rate, but we don't know how to design it properly so custo…”
Farooqi: Utilities should market dynamic pricing around savings, not peak penalties
“Why, why lead with the higher price? Lead with the lower price. I mean, that's like marketing one A, right? But we somehow, because of the cost of service mindset, can't seem to understand it. But all of us, our customers who go to Macy's, Nordstrom's, and Saf…”
Farooqi: The three key drivers of failed utility rate programs
“And so long peak periods, insufficient price differential, and bad marketing, those are the hallmarks of failure.”
Farooqi: Voluntary grid alerts lose impact without tangible financial incentives
“See, the problem with alerts is they only work a few times. Then it's like the, you know, the kid who cried wolf doesn't have an impact. You have to make it tangible by giving them a monetary payment or charging a higher price.”
Farooqi: SMUD achieved 97% TOU enrollment and 4-8% peak reduction
“They have 97% of the customers on their default TOU rate. Peak reduction of four to eight percent has occurred, which is very consistent with our database.”
Farooqi: Oklahoma has run price-to-device thermostat programs for a decade
“A good example of that actually goes back a few years to Oklahoma again. They have prices to devices for 10 years now with their dynamic pricing program. What they do is they send a price signal directly to the thermostat, but it is up to the customer to pre-c…”