How to create a Rate set
Last updated: March 9, 2026
This article outlines the basics for creating new rate sets in Factor
Prerequisites
If your rates will be temporal rates (e.g. specific different rates for different times of day/week/year), before you create the Rate set you will need to create a partition.
📄 How do I create a partition?
Creating a Rate set
Step 1: Navigate to the rate sets home page and click Add new.
Step 2: Configure the rate set
Give your new rate seta name. This name will appear in drop down boxes in other areas of Factor when you are prompted to select a rate set.
If your rate set should inherit charges from other preconfigured charge schedules, select these from the Select rate sets to include drop down. Multiple rate sets can be inherited. Read more about rate set inheritance below.
If you need to define rates in this rate set, click Add charge A rate set can have any number of rate codes defined.
Step 3: Configure the rate
Give your rate a description, this field is optional.
Select a currency for the rate.
Select the Units for the rate. A rate can have multiple units selected.
Enter the date from which the rate is valid from.
Select your rate type, either temporal or flat.
For flat rates, enter the amount.
For temporal rates:
Select the partition to use for the rate. When selected, the parts will be automatically populated for you.
Enter the amount for each part and optionally a description.
Step 4: Configure more rates over time, if needed
Each rate in Factor has a Valid From date that defines when it begins to apply. The Valid To date is automatically determined by the Valid From date of the next rate in sequence.
To define a new rate that applies from a point in time click + and configure when the rate should be come active from.
Step 5: click Save rate set
Rate set inheritance
Rate types
Flat rates
A single fixed charge applies uniformly, independent of time of day, day of week, or season. The rate does not vary with usage patterns and may be expressed as a charge per unit of consumption (kWh), per demand (kVA), per day, or as a fixed monthly fee.
Temporal rates
Variable rates apply depending on the time of day, day of week, or season etc. Different unit rates may be set for peak, shoulder, and off-peak periods, summer, winter and can apply to consumption (kWh), demand (kVA), daily charges, or other billing determinants. Temporal rates are explicitly linked to a Partition.
📄 Understanding Partitions, Temporal expressions and their purpose
Recommendations
A rate code can have multiple rates over time, and those rates can be set up with different rate types. For clarity and easier management, we recommend using the same rate type within a rate code whenever possible. Only mix rate types in the same rate code if you have a strong reason to do so.
Maintain clear naming conventions for rate sets that include effective dates
If you operate across multiple network areas:
Create separate rate sets for each network operator
Use consistent naming conventions to identify network-specific rates