New research by Accenture reveals that energy consumers are nearly twice as likely to trust their energy providers to safeguard their personal data than to advise them on energy consumption. At the same time, there is increasing interest among consumers in energy management services. Building a bridge between the two will help energy providers create new revenue streams.
For its sixth annual survey of energy consumers, Accenture interviewed more than 11,000 individuals in 21 countries, including Belgium. The report, The New Energy Consumer: Unleashing Business Value in a Digital World, found that 65% of consumers showed confidence in their energy provider to secure and protect their personal data and information about their energy usage. This rose to 76% among regular users of digital channels.
In contrast, only 36% said that they trust their energy provider to inform them about actions they can take to optimize their energy use. And, nearly four in 10 consumers (38%) said they believe that their energy provider is not effective in helping them manage their energy consumption. Two-thirds (66%) of respondents would be interested in products and services to help them save electricity – up from 56% last year – while 69% said that they would be interested in participating in an energy-management program to help them conserve energy. More than half (57%) said they would consider investing to become power self-sufficient, such as by installing solar panels and home-battery storage.
These findings are an invitation to energy providers to start thinking about how they can build even greater digital interaction with their customers and offer them more personalized products and services that answer their energy concerns.
In competitive markets, energy providers can create new revenue streams by offering digital solutions for home-related products and services, such as solar and other home-energy generation platforms, energy-efficiency tools, or even bundled home services. But even in a regulated marketplace such as Belgium, opportunities for energy providers include innovative partnerships or digital information services.
While interest in new products and services is high and increasing among all energy consumers, the research shows that consumers who use digital channels to interact with their energy provider may represent even greater value.
For detailed analysis of the challenges and opportunities, read the full report The New Energy Consumer: Unleashing Business Value in a Digital World
