Isra-Mart srl : Consumers looking for options in crowded energy market

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Almost three quarters of consumers are happy to shop around for electricity, energy efficient products, and similar green services, potentially breaking the grip of traditional energy providers on the energy services market.

That is the conclusion of a major global survey of consumer attitudes conducted by consulting giant Accenture, which suggests that the energy market is set to become far more competitive as alternative suppliers, such as retailers, phone providers and e-commerce sites, attempt to break into the fast-expanding market for green energy services.
Around half of the 10,199 people surveyed for the Revealing the Values of the New Energy Consumer report said they would consider buying electricity, energy-efficiency products and related services from cable or phone companies, while 45 per cent said they would purchase the same services from web sites.

The poll also revealed pent up demand for emerging green technologies, with 60 per cent of respondents expressing interest in automated electricity management systems, while just over a third would install a 'set and forget' smart device to turn appliances on or off automatically.

Moreover, 36 per cent said they were interested in monitoring and managing energy use using personal electronic devices, suggesting that traditional energy suppliers will have to offer a wide range of smart meter technologies if they are to stop mobile technology providers eating into the market.

Interestingly, 57 per cent of respondents said they would adopt an electricity management programme even if it did not reduce their electricity bills, while almost a third said they would adopt a programme that actually cost them five per cent more on their electricity bill, suggesting that environmental concerns are increasingly affecting energy purchasing decisions.

"Incumbent utilities clearly remain the provider of choice, but new 'beyond-the-meter' products and services offer an opportunity for alternative suppliers," said Omar Abbosh, managing director of resources at Accenture UK and Ireland. "They are also raising consumer expectations about the nature and quality of service."

The report's findings are likely to be welcomed by UK policy makers, particularly after Energy and Climate Change Secretary Chris Huhne said that one of the main motivations behind the government's proposed electricity market reforms and universal smart meter rollout is to introduce more competition to the energy market.