Utility companies are often perceived as antiquated and oppressive against their customers, being indifferent to or celebrating customers’ high electricity bills. Customers are typically not given the tools to engage and manage their electricity bills, leading to frustration and poor loyalty. There also appears to be a consensus in the industry that performance-based regulation will become more prevalent, and incentives to improve efficiency to achieve reductions in delivered energy prices requires stronger customer engagement.
Utilities must shift the way they interact with their customers if they want to build customer loyalty and remain competitive in deregulated markets. Engaging customers with energy management must tackle two challenges:
- Customers are not energy experts with plenty of time to decipher complex meter readings
- Customers have limited time to be in front of dashboards, apps, monitors and displays 24/7/365 to optimize energy use
With the roll-out of smart meters and new market mechanisms such as demand response and dynamic pricing, managing energy use is going to become more and more complex for end customers, and Utilities providing modern services to help customers engage with energy will beat the competition when it comes to attracting customers and retaining existing ones.
Minimum capital cost propositions are sought by worldwide Utilities willing to redefine the electricity market and engage their customers into modern energy programs. Providing visibility into energy spending is key to foster customer engagement, as it enables nonintrusive interpretation of energy use and automated detection of energy saving opportunities for each customer, allowing Utilities to introduce a portfolio of new cutting edge energy services with immediate benefits:
- Loyal customer base with constant technology innovation
- New customers attracted by clear market differentiating services
- Enhanced product range and exploration of new markets
- Improved public image with clear commitment to energy savings
- Competitiveness on retail energy markets inline with performance-based regulation
- Government support by taking the lead on energy efficiency
Boosting customer engagement translates is about providing tools to allow any customer to manage his own energy use. Wattics Engagement platform operates as a virtual energy manager for Utility customers, and automates the discovery of significant energy events from interval meter readings, to enable engagement from non-experts into energy savings.
By working with Wattics, Utilities can innovate on the market and provide services in which customers are proactively notified when relevant issues will result into higher bills if not looked after. Notifying customers via SMS/email/app when unusual energy use is detected (failure, wastage) improves customer experience, and fosters user engagement and loyalty.
Wattics energy analytics engines are designed to learn and diagnose electricity use 24/7, and will:
- Identify wastage/anomalies/failures when they occur
- Translate them into clear, actionable contextual insights
- Proactively send energy saving recommendations on phone/email
Wattics interfaces with Utilities’ backend platforms to retrieve anonymised interval meter readings. Consumptiopn kWh readings are processed in real-time by Wattics energy analytics engines, and actionable insights are delivered to end customers on our Wattics cloud dashboard and mobile devices.
Through smart analytics and real-time notifications, more energy savings are implemented:
Wattics offers bespoke solutions matching unique commercial and technical requirements:
- Target market (residential, commercial, industrial)
- Data availability (real-time, 15mn interval, periodic upload, etc)
- Access to data (web interface, push mechanism, website parser, etc)
- End product targeted (end-user cloud dashboard, notification service, in-house tool, meter firmware, etc)
Wattics zero capital cost solution requires no extra hardware installed in customer premises. We invite you to get in touch with us to kick off the discussion and we can together define a bespoke solution for your market and your requirements.
Doubling your Recurring Revenue through Energy Analytics – Webinar Series June 2017
Energy analytics systems are crucial for energy consultants; however, specifically software as a service (SaaS) energy analytics allow for a…Read more
Building energy management systems market to reach $13bn by 2026
Investment in the Internet of Things and cloud-edge computing continues to grow, which continues to fuel demand for building energy management systems…Read more
7 Tips To Successfully Select an Energy Management Solution
With a whole host of different of energy management solutions on the market, how can you choose the correct one that meets your own business needs?…Read more