Millenials drive value but unloyal, says survey

Millennials may drive huge future value for energy companies but are harder to keep happy and more likely to switch supplier. New research from Accenture analysed the results of a […]

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By Jonny Bairstow

Millennials may drive huge future value for energy companies but are harder to keep happy and more likely to switch supplier.

New research from Accenture analysed the results of a customer satisfaction survey from across 17 countries.

It shows that millennials want to be the first to experience new energy products and services and experiment with new technology.

As a generation they’re more interested in renewables, with 46% predicted to sign up for solar panels in the next five years compared to just 14% of those over 55.

As early adopters of new technology, 19% of UK millennials are interested in home energy management (like remote heating apps) compared to just 6% of people their parent’s age.

However, millennials may not be the perfect energy consumers after all, as they are 18% more likely to change energy supplier in the next year than the older generation.

A whopping 80% of them said they would switch if they didn’t get a seamless experience whereas half of people over 55 wouldn’t change.

Millennials want to use social media to contact their supplier, with a quarter currently of those in the UK interacting on social media with their supplier compared to only 3% of those in the older generation.