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Poor customer service is one of the big drivers of churn in energy retail. It’s not difficult to recall a time when you’ve felt underwhelmed when querying an inaccurate electricity bill, when trying to understand a change in payment plan or when changing account after moving home.
But under the surface, there’s a fair amount of innovation happening to address customer pain points, particularly in the digital space. Our research points to a transition away from the traditional approach centred around operational efficiency towards a customer-first approach.
We recently held our first New Energy Summit, in Amsterdam, on the 28-29th of May 2019.
The event brought together over 100 industry stakeholders ranging from energy suppliers, hardware manufacturers, data specialists, retailers, to insurance providers across Europe and beyond.
Following the success of last year’s event in Berlin, we hosted another European Digital Energy Summit to continue the discussions we had twelve months ago. The Edinburgh event brought together a record-breaking number of attendees and we even saw a bit of sunshine in the Scottish capital! Most importantly, we saw a breadth and depth of insightful, intriguing and inspiring discussion from a wide range of stakeholders.
If you didn’t manage to come to the event, don’t worry – there’s always next year! Plus, we’ve brought together the key messages from the two days, which focused on Customer Data Value and the Connected Home.
In the energy sector, we hear a lot of discussion about “the customer”. On the one hand this is great to hear; a sign that an industry that hasn’t traditionally been customer centric is now gradually becoming more so. But it’s also a horrible generalisation – one that we have also been guilty of.
Of course, there is no such thing as the customer, especially when it comes to electric vehicles. There are myriad different customer ‘types’, differing in a multitude of ways, from hard characteristics such as their driving habits or whether they have off road parking, to soft characteristics such as attitudes, values and preferences.
How many Western Europeans will be regularly using energy insight tools in 5 years? By energy insight tools I’m referring to the devices, often apps, which allow energy customers to see, monitor and act on their energy consumption.
Well, according to industry experts, it’s a staggering 65 million households!
The UK Government has fired the gun for the ‘new energy’ race, with a clear indication that it is putting flexibility closer to the heart of Britain’s electricity system. Starting guns have also been fired in a few other European countries with some races likely to start in the (near) future.
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