CUSTOMER FOCUSED UK UTILITIES

The COVID-19 pandemic has pushed many people into a position of financial hardship. This ability-to-pay crisis is predicted to worsen as job support furlough schemes and other government support for those struggling to pay or using prepayment meters unwind and employment levels adjust. This is reinforced in a recent survey by the Financial Conduct Authority, which shows more than a quarter of UK adults are considered to have low financial resilience. Our research shows that this is the time for utilities to innovate, to prepare and test initiatives that will support their customer-focus claims and to provide tangible solutions for customers in challenging times.

From our research on consumer opinion and a scan of industry, public, and social media, three critical themes emerge:

1. Energy use and spending are up, and, for some, income is down, driving households into arrears

2. People are open to change, and many are looking for innovation and support to reduce their utility bills

3. Now is the moment to act so that your organization is best positioned to create a better future and build more meaningful relationships with consumers.