Digitalization of Customer Experience for Energy Retailers

Document created by m.sisovs on 15-Feb-2017
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   Emerging unsatisfactory experience of electricity consumers (NPS index of Spanish utilities has been below 0% in 2015), holding bilateral supply contracts with corresponding retail companies is clearly indicating two problems. The first one is a communication gap between two ends of electricity supply chain, i.e. main market participants are ignoring customers' preferences by tightening policies on solar generation and energy storage; whereas electricity consumers lack an easy and convenient manner to solve the problem of incresing billing and smart consumption. Consequently, the second problem is a significant loss of revenues of electricity retail companies (often subsidiaries of utilities), which despite large amount of assets, resources and tools do not withstand the competitive environment.

 

 

 

   Implemented measure of wide deployment of Smart Meters until the end of year 2018 in Spain results in an exponential growth of utility data. These data enable a range of enhacement of utilities' business models, especially, customer-oriented ones. Our team is strictly convinced that mentioned data and the tools in the scope of Data Science are able to improve the respective metrics of customer experience, costs and service quality. Moreover, they are able to affect all three characteristics simultaneously. Long-term perspective of newtork technology and digital solution implementation lead towards enabling Internet of Things and Smart Home ideas. Thus, solving one single problem has distinct perspctive benefit opportunities.

 

 

   In the scope of this project, our team would develop a simulation of a platform for improved customer experience and interaction for energy retailers. The need of rearranging the business strategies from volume-oriented to quality-oriented is crutial. The solution allows a potential customer to understand, analyse and anticipate his consumption and, therefore, energy bills. Simple visualization, pricing alerts and analysis of customer journey should be the initial phase of interaction. On later stage it shouold be followed by segmentation and personalised services (for instance, pricing and attention).

 

Our team strongly believes in the need of adapting customer-oriented solutions and business models and we are ready to prove it in the next stages of this challenge.

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