In 2022, supply chain issues and extreme weather plagued the utility sector, causing energy prices to surge by 14.3% in the U.S., and by more than 50% in other parts of the world. This has not only frustrated both customers and suppliers, but also fueled customer demand for engaging digital experiences, such as the ability to continuously monitor energy usage, access billing information, and communicate easily with a provider.
In fact, customers are looking to digital experiences more than ever: according to EY’s 2022 Energy Survey, 65% of respondents have increased their interest in monitoring their energy usage over the past year, with 61% saying they want to use digital tools to help reduce their impact on the environment.
However, when it comes to innovative customer experiences, energy and utilities (E&U) have often lagged behind other industries. According to the J.D. Power 2022 U.S. Utility Digital Experience Study, as many as a third of large utilities do not yet offer customers an app. Now, changing customer expectations are finally prompting energy utilities to make the customer experience a priority.