Power to the People: UK Utility Companies’ Days are Numbered…

by | Feb 8, 2019

A survey of 2,486 UK consumers has painted a dim picture for traditional utility providers.

  • 91% – UK energy consumers willing to switch utility providers
  • 23% – Believe their utility providers did enough to contact them the last time services were disrupted (such as during the ‘Beast from the East’)
  • 75% – Say their own data isn’t used to help them at all
  • 52% – Feel they have more power in their relationship with utility companies than they did five years ago
  • 43% – Already stopped using traditional providers in favour of an alternative or are planning to
  • 41% – Believe things will get much harder for traditional suppliers
  • 69% – Would switch utility provider because they found a cheaper alternative

Other factors driving consumers to switch included:

  • 44% – Inaccurate billing
  • 33% – Data breaches or security issues
  • 30% – Poor communication
  • 28% – Interrupted service
  • 20% – Companies’ environmental records

The technologies utilities companies should be using as part of their customer experience:

  • 10% – Artificial Intelligence
  • 15% – Video chat services such as Skype or FaceTime
  • 44% – Smart meters
  • 41% – Text messaging and chat
  • 40% – Mobile apps

Today’s consumers have less and less patience for businesses that don’t know how to use their information – and none at all for those that don’t meet their own promises. As new utility companies offer incentives such as a more personal service, companies must look at what consumers are demanding and find a way to meet – and ideally exceed – their needs, delivering a first-class customer experience.” – Mustafa Atik, Utilities Expert at Quadient.

Energy giant npower set to cut up to 900 jobs
Ofgem itself forecasts that five of the ‘Big Six’ energy companies will make a loss or less than normal profits this year due to the implementation of the price cap, and with several recent failures of new energy suppliers, it is clear that many have been pricing at levels that are not sustainable. Even with these reductions, we still forecast significant losses this year, but we’re doing everything we can to minimise them whilst continuing to focus on service and value for our customers.” – Paul Coffey, npower Chief executive

Why UK Utility Companies’ Days are Numbered

Sources:

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