The energy sector has faced a major transformation in recent years. The liberalization of the energy sector ensured that energy supply was no longer possible in the traditional “push strategy.” The customer became the center of attention, as customer churn became a common concept within the sector. From now on, an individual could actively choose an energy supplier, something that was impossible before. In their choice, customers were initially often led by favorable pricing. In a later phase, green energy made its appearance and became a decision factor just as valuable as price. In order to tackle these changes, suppliers started recruiting complementary profiles in other sectors that experienced a similar transformation. These recruits came mostly from the financial and telecom world to embrace a more customer centric approach within the organizations.
For utilities, the foundation of the energy marketplace is changing. Increasingly, business models and operational approaches of the past are being stretched to their limits and a tipping point has been reached.
What does this mean for energy providers looking to remain successful in the future?