1. What is Dynamic Pricing?
Dynamic pricing is a feature that allows you to set up a smart pricing model on the charge points operated by you. It enables you to sell electricity following the actual market prices as it changes throughout the date.
This feature allows you to adjust your pricing model depending if the price of electricity is high or low at the exact moment end user starts the charge. Monta will the data of the electricity prices from Nord Pool when indicating the exact electricity spot price for the end users. At the same time you can add other tariffs and additional fees in order to make sure you can cover your cost of electricity.
You can set up a Dynamic price group in the Monta Portal.
2. How to create a Dynamic price group?
Access the Team on Monta Portal
Click on "Price groups" and then on "Add new"
Select the price group type
You can set up a Dynamic price group as a Public price, Member price, Sponsored or Cost price group.
Select Spot price type
Next to the Master price field, you can select what type the price group should be. There, you need to select Spot.
3. Create a Dynamic price group model
Add Fallback price per kWh
Enter a description of the price group and indicate the fallback price. This will be the pice per kWh if for some reason Monta cannot get the data about electricity price from NordPool.
Incl. VAT toggle
Select whether the spot price includes VAT. If you toggle this on, then the VAT will be applied only on the spot price, but not on the tariffs.
If you toggle the percentage toggle on, you can discount the spot price. In the calculation, the system will take the percentage and multiply it by the spot price.
Example: 70% x 2 DKK = 1.4 DKK
If you toggle "Min" on, you can put the minimum spot price you want the driver to pay. If NordPool send information to Monta for a lower value, we will use the minimum spot value you put in the field, instead.
This is the maximum value that spot price can be. If NordPool send information to Monta for a higher value, we will use this maximum you put in the field, instead.
Add Transportation Tariff (only for Danish Market)
Select the provider the grid services according to your region. This tariff will be applied on top of the spot price and will vary according to the data received from the grid service provider in you region. Here is guide that explains how to add transportation tariff in regards to your region.
Add additional pricing per kWh
Indicate if you would like to have any additional pricing per kWh. You can add an absolute additional fee, in the currency of the Team, or a percentage additional fee.
Please note, these additional fees will be applied on the whole Dynamic price. Therefore, before adding additional percentage pricing per kWh, please check if you have toggled on "Incl. VAT", because that will change the calculation.
Once you have set up the Dynamic price, you will see it in the bottom of the screen. Please check the calculation and make sure your setup is correct, before saving and applying the price group.
Here is an example setup, which explains how the calculation works.
- The spot price comes in as 3 DKK/ kWh
- We have toggled VAT, which adds 0,75 DKK and the price is now 3,75 DKK/ kWh
- We have toggled "Min" on and inserted 5. As your minium is higher that the spot price + VAT, the new price becomes 5 DKK.
- The tariff of the electricity provider we have chosen is currently 0,61 DKK. Hence, the price becomes 5 + 0,61 = 5,61 DKK
- Final dynamic price is 5,61 DKK.
Updated Setup A
Now, we are going to update the price group and add additional percentage pricing per kWh.
When we added the 25% additional pricing per kWh, it was applied on the whole price of 5,61 DKK. Therefore, the new price became 5,61 DKK x 25% = 7,01 DKK/ kWh.
As you can see, a small change to the setup can significantly change your final pricing. That is why, we encourage you to use the different settings and carefully observe how the final calculation is formulated.
4. Where can I apply a Dynamic price group model?
You can apply a Dynamic price group model to all the price models you need!
Public and Member - Do not lose or overcharge for the cost for the electricity, use the smart pricing model and create better EV world today!
Sponsored - set up a sponsored price and reimburse your employees the exact price they have while charging.
Cost Price Group - this price group allows you to create a price group that will follow how much you pay for the kWh charged to your service provider. You can follow the exact price per kWh with the dynamic price structure and follow your exact expenses as charge point operator.
Let’s create a fair and transparent EV charging experience together!