Technology is driving change in the utility sector faster today than it has since the advent of the industry more than a century ago. For utility customers – ranging from the largest corporations to individual households – new technologies are offering different ways to interact with their utility, from paying a bill to sourcing generation.
Many utilities have only just begun to transform the customer experience. However, a growing number of utilities no longer see their customers simply as ratepayers attached to a meter, but rather, as individuals with an array of preferences. In order to maintain their role as a trusted energy advisor, it will be necessary for utilities to gain a deeper understanding of customer preferences.
Our new report discusses a horizontal approach to each customer class – commercial, small business, municipal or residential – that requires an ongoing transformation, rather than a one-time pivot in business practices. By embarking on this transformation today, utilities will be well-positioned to increase their value to customers and shareholders.