Maingate, a European ICT company focused on the energy sector announced today the publication of the white paper “The Perfect Storm”, which details the benefits to utilities and households of rolling out Home Energy Management Services in the UK.
The research is based on the data gathered from one of the largest consumer trials in Europe conducted by Maingate in partnership with E.ON and it illustrates how HEMS can increase the revenues and profitability of utilities whilst driving down domestic energy consumption.
The white paper addresses the key questions facing utilities:
How to facilitate a reduction of consumption without destroying revenues?
The financial model described in the white paper demonstrates that there is a strong business case for utilities to offer HEMS and counters many of the barriers to adoption of rolling out these services to households.
The paper also highlights:
• How the energy market is broken
• The poor relationship Utilities have with their customers
• How Utilities can address decreasing margins and increasing churn
• How innovators outside the energy sector are successfully launching HEMS and stealing the march on Utilities
Baard Eilertsen, CEO and President of Maingate says:
“There is a real sense of urgency in the UK. Energy bills are continuing to rise and households are still completely in the dark when it comes to their energy usage. The business case for utilities to offer these services is compelling and as our research demonstrates, it will ultimately increase customer loyalty, which is in short supply right now, as well as improve the outlook for revenues and profitability.
“OFGEM and the government’s focus on encouraging switching does not address demand. The domestic sector is the largest consumer of energy in the UK so how we consume energy needs to be part of the solution. Our research demonstrates that providing consumers with greater transparency and control of their energy usage, can have a sustainable impact on UK household energy bills – to the tune of £6 billion – as well as a material impact on consumption and carbon emissions. Regulators should find ways of encouraging the utilities to provide these services and educate consumers about the benefits of HEMS.”