![]() ![]() The foundation of any utility is providing reliable service, be it keeping the lights on or safely providing gas or water. Given customers’ prioritization of sustainability, how are we greening our own operations?.How are we thinking differently about programs, products and services that deliver value for consumers, the organization and the planet?.Is our workforce strategy and employee experience aligned to our customer approach?.How can new technology and data empower our customer strategy and differentiate the experience?.Are our customer operations agile enough as channels diversify, digitization advances and energy solutions expand?.How are we creating effortless experiences for customers to engage with us?.While understanding their unique customer base is vital, there are six key questions that utilities industry should ask as they consider this transformation: To overcome these challenges and build for a new energy future, transforming the customer experience is now essential to survival. Further, newsworthy disruptions in service due to adverse weather events - like the numerous wildfires, heat waves, freezes and storms across the US recently - only add to consumers’ perceptions that they might not be able to count on their local utility. ![]() Since 2021, more than 80 energy providers have gone out of business in competitive markets. Rising prices and market disruption have fueled their interest in clean energy and energy efficiency and helped accelerate adoption of new solutions like electric vehicles and rooftop solar.Īt the same time, volatility has taken a toll on consumer confidence in an industry that for years has been taken for granted. Utilities must determine today how and where they will play - both in the short and long term - and focus their investments and resources on four no-regrets actions to enable that strategy.ĮY research of 70,000 consumers across 18 regions over the last two years found that consumers are not just ready for change, they are leading the way. And as the market evolves, new players - with new capabilities - are entering the playing field and will continue to do so, adding even more complexity. Ensuring an equitable transition will take time and a broad array of energy sources. At the same time, reliability and resiliency underpin the utility’s license to operate and can’t be ignored. Capital only goes so far, and keeping costs low to avoid rate hikes in a down economy is critical. However, increased pressure around decarbonization and the adoption of cleaner energy sources, electrification and related infrastructure needs, and customer-driven disruption will make this energy trilemma even more difficult to balance.įor now, many utilities feel a sense of urgency around these challenges and the related energy transition, but change won’t happen overnight. In 2023, US utilities industry have a multi-prong ambition to realize: how to provide reliable, affordable and sustainable energy or safe water to customers. ![]()
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