Energy providers face competition for consumer cash

Consumers are statistically likely to consider buying efficiency technology from a range of companies rather than traditional providers, according to research by Accenture. The survey found that 73 percent of […]

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By Vicky Ellis

Consumers are statistically likely to consider buying efficiency technology from a range of companies rather than traditional providers, according to research by Accenture.

The survey found that 73 percent of consumers would consider buying electricity, energy efficiency products and related services from companies other than traditional energy providers.

Greg Guthridge, global Managing Director for Accenture’s utilities service said: “Incumbent utilities clearly remain the provider of choice, but new ‘beyond-the-meter’ products and services offer an opportunity for alternative suppliers. They are also raising consumer expectations about the nature and quality of service. Electricity providers will have to broaden the range of their services, be innovative and transform the way they engage with consumers. Utilities could potentially capitalize on the opportunity by working with other consumer brands to drive added value products and services.”

The survey polled 10,199 people in 18 countries, which suggests that energy providers face widespread tougher competition for consumers’ attention.