25 Oct Technology will deliver Suppliers the necessary transparency to adopt new business models
Energy retailers have already realised their world has changed. Some of the largest names in energy (Eon, SSE, SP, RWE) have already reduced, sold or closed some of their ageing fossil power fleets, and are busy investing new business models. Newcomers have entered the market, some with exclusively green and flexible offerings.
At the corporate end of the market, margins for energy retailers are fast dwindling and retailers are having to re-think their strategies for acquiring, retaining and now (perhaps for the first time) delighting their customers. Going beyond simply being the party that sends a bill.
Suppliers are looking at how they can become a long-term partner with customers, how they can go beyond the transactional tender process and be the one who is front and centre of the customer’s energy strategy – a true partner in this ever changing complex world.
This world now includes a range of energy options from efficiency technology, on-site generation and batteries to optimisation plays. All made possible by the falling prices of the technologies that power these (Solar, Batteries) and a fundamental shift in the power price and the opportunities that creates (read more about the energy price change here).
Suppliers themselves aren’t necessarily well placed to help customers in this challenge. They’ve had to contend with complexity for a long-time, and have applied a lot of brain power at understanding it. The problem is, they may not have spent enough time on how to simplify this for end customers, or provide the necessary transparency critical for being somebody’s “trusted advisor”. It’s very hard to ask your customer to trust you on complex energy investments, when they don’t really trust the bill you send them.
At Utilidex we believe that technology and data will play a leading part in delivering the necessary transparency for Suppliers to adopt new business models. Innovation, not regulation will supply the answer.
Digital Energy retailers will leverage technologies to provide transparency, they’ll focus on delivering engaging customer experiences, which ultimately deliver, long, open and trusted customer partnerships.
If you want to learn more about how Utilidex can help deliver a transparent, engaging service to your customers, please contact us today.