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Industry in transition: This is required for partnership with the new electricity customer

Published: June 22, 2022, 3:10 p.mThe winter electricity prices have, to say the least, made consumers pay attention to their electricity bills. Now the electricity companies have to show the customers that they offer something more than just an invoice, and there are mainly five areas that are required to create a partnership with the new electricity customer.Read more about what it takes to become the electricity supplier of the future There is a lot of electricity on the agenda right now. After a winter of record high electricity prices, Russia’s invasion of Ukraine has put a knife to the throat of European energy use, while the climate crisis requires a shift away from fossil fuels in every single industry, from transport to steel production. – Energy is indeed an industry undergoing strong transformation, and it takes place widely throughout society, states Fredrik Engdar, responsible for business area energy at Accenture. – Above all, we see that customers, regardless of whether they are private customers or business customers, today make completely different demands on their electricity supplier than they have done in the past.Fredrik Engdar, responsible for business area energy at Accenture.Fredrik Engdar, responsible for business area energy at Accenture. The report “The New Energy Consumer” from Accenture states that the relationship between customer and electricity supplier was previously basically transaction-based. Electricity came out of two holes in the wall, the bill was paid, nobody thought more about it than that. – But both the high electricity price we see now and the high awareness that exists around sustainability have changed this significantly. The end customer today wants to participate and contribute to the energy transition by buying greener electricity, but they also want help from the electricity companies to make their own electricity consumption more efficient.

A big shift in perspective

And this presents the electricity companies with a major shift in perspective. Not least, it requires a new view of what actually creates value for both themselves, and for the customer. According to the report, there are mainly five areas that electricity companies need to think about in order to create an emotional, rather than transaction-based, relationship with their customers: Purpose, Products, Technology Platforms, Talent and Partnerships.- All of these five are equally important, but having a ambitious and genuine purpose that is filled with real content rather than platitudes is the foundation. The purpose must then drive action, because it is undoubtedly the case that customers and companies want to buy services and products from companies that contribute to the transition around sustainability. It is with a clear purpose that companies can find the direction to develop new products and technical platforms, the is with a clear purpose they can attract employees and customers, and it is with a clear purpose that they find the partnerships that will be decisive in being able to become an important player, not only in the electricity market, but in the energy transition that is now taking place throughout society. And here Fredrik Engdar sees that the Swedish companies are in a good position. – Many Swedish electricity companies are already far ahead, because they know what they want to achieve and they seem to be genuine in their desire to get there. Now it is time to take the next step and continue driving the transformation towards a sustainable society.The report also shows that consumers want help to adjust their energy consumption themselves. Partly via advice and tips, partly also via new products and environmentally friendly alternatives. – The Swedish companies are in a good position when it comes to offering green electricity, but then they need to help customers in their transition and make electricity use more efficient. To achieve this, both greater insight into customer behavior and needs, as well as new types of products, are needed.

New forms of partnership

Another important aspect of the transition is new forms of partnership to change energy use in close cooperation with business customers and other players in the market. – Partnership is a matter of the heart for me. The energy transition has already led to completely new kinds of cross-border collaborations between industries that we have not seen so often before. For example, furniture companies that sell solar panels, fast food chains that become charging stations for electric cars, oil companies that buy power companies – the combinations are many, sometimes surprising, and occur everywhere. – It is the increasing customer insight, and self-awareness, that is behind it. The companies realize that they cannot do everything themselves, but that they must enter into partnerships both with actors in other industries and with fast, digital startups that can help develop new capabilities and accelerate the energy transition. These constellations will be crucial to being able to be relevant in the new energy market.Read more about the transformation of the electricity industry

FACTS

25 percent – so many electricity companies say that their inability to formulate a purpose that engages customers is an obstacle to developing the customer offer.78 percent – so many electricity companies note that the companies that are unable to help their customers to net-zero emissions with the help of greener products and offers will fall behind.64 percent – so many electricity companies find it challenging to find the balance between profitability and transforming the customer experience. The article is produced by Brand Studio in collaboration with Accenture and not an article by Dagens industri

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