With CRM 7.0 EhP3 SAP developed a very powerful tool called the Product Modeling for Utilities (PMU).
The PMU provides you with a framework that integrates numerous new functions like the configuration, price object, status- and version management, product transport, different usages, etc. in one UI.
With the fully and seamlessly integrated BRFplus framework you have a modern and open rule engine at hand where you can implement your own logic according to your business needs without any modification.
This also means that with CRM 7.0 EhP3 the ‘classical’ Product Modeling Engine (PME) should be only used for the non-utilities products like materials!
Of course the IPC is still supported also for utilities products (like electricity, gas, …) and can be maintained using the PME functionality. Nevertheless for the utilities products (like electricity, gas, …) SAP strongly recommends to use PMU instead of PME!
Be aware that very many major functions like the Product Transport, BRFplus rule framework, Price Object, Reference Products, etc.…to name just a few are available in PMU and not in PME with CRM 7.0 EhP3 already!
Also keep in mind that any future development will be done in the context of the PMU and not in the PME!
Materials configured with PME can be seamlessly integrated into the PMU via redefinition techniques without changing the materials and it’s configurations!
One special situation you have to keep in mind though: Assume you used utilities products (like electricity, gas, …) in lower releases than CRM 7.0 EhP3 with PME configuration. SAP does not provide a mass switch for all the contracts in the system using products with PME configuration to products with PMU!
The switch in these contracts rather takes place on a one-to-one basis when the product in the contract will be changed ( via product change). In case you don’t touch the old contract at all and create a new contract the old contact stays at it is, but the new contract should get a product configured with PMU. This procedure ensures that gradually all you legacy data will be switched to the new technology!
The new PMU (Product Modeling for Utilities)
For more details see the documentation which can be found here and the learning map which can be found here (you need to click "SAP Utilities in SAP CRM 7.0 EHP 3 " to reach your personal Learning Map.