Evolving and Optimising to the Future Supplier Model
The Future is Different.
Consumers’ Changing Relationship with Energy
We know that the future of the energy sector is going to be fundamentally different. It is evolving rapidly and with that comes both opportunity and risk. A key change will be the way in which consumers engage with energy – via services rather than as a stand alone commodity. The successful retailers will be the ones that adapt, shape and deliver this new relationship.
What is driving the changes?
Net Zero and the cost of energy are driving many of the changes. The energy markets are likely to evolve, with sharper price signals that more closely reflect temporal costs. Smart meters, alongside market wide half hourly settlement will result in suppliers being more directly exposed to these prices. Technology, innovation and digitalisation are likely to underpin new products, services and tariffs for consumers. All of which should enable more effective and efficient use of our energy system.
Tomorrow’s Successful Energy Retailers
Tomorrow’s successful suppliers and energy related retailers will be those that embrace the changes that are happening, adapt their businesses models and shape the new relationship consumers will have with energy – providing new products and services that meet consumers’ wants and needs.
This transformation will require a clear strategic direction, commercially rooted and consistent with brand identity, alongside a programme to establish how this might be delivered to provide services and service levels that consumers and the regulator expect.
New products and services will need to satisfy consumer desire for easy and effective energy and cost management – with smart control of a range of potential assets such as solar panels, battery storage, heat pumps, EV chargers and controllable demand. Change will touch many areas of the business such as forecasting, tariffs, asset operations, customer care (including debt), and technology & data.
We understand the changing retail landscape, and the innovation coming to market. We also understand the changing market arrangements, the sharper price signals that these will provide. In addition, we understand the associated metered, market and settlement data and the potential technology has for realising its value.
Partner with us to engage with the broad range of stakeholders required to embrace and progress the change journey – setting a strategic direction that differentiates your business, developing options for delivering this, bringing together delivery partners that can undertake trials, informing decisions and establishing a delivery programme.
Our knowledge, alongside our independent stakeholder and project management capabilities, enables us to make real progress – and that is the value we bring. Contact us today to learn more about how we can support your business transformation.
