This is the third installment of a three-part “how-to” series devoted to exploring Dynamics 365 solutions in the Utilities industry. Over the past few months, we’ve shared insights into how utility companies can overcome technology challenges that are unique to their industry and how the market for utilities has changed dramatically. And today we’re exploring how to make that needed transition to where you’re providing services to your customers other than just electricity. Enjoy!
Usage of electricity is no longer on the rise. In fact, it’s now going down, and with government regulations around zero emissions and zero carbon footprint, usage is expected to continue spiraling down. Energy Efficiency programs providing more efficient appliances – as well as a more energy-conscious consumer mindset – will push the demand further down. And on top of everything else, electricity as a commodity product has always had margins and high churn rates. Each Utility provider needs to keep all of this in mind when strategizing for future growth and continued success in the industry.
Mature Energy Service Providers understand all of these industry truths and are beginning to move from just being energy rate providers to energy service providers. Today, they invoice by services, not kWh because they view the consumer as a customer, not a rate payer. In other words, it involves more than simply looking for new revenue opportunities – it means a true shift in how the customer is perceived throughout the company: it’s crucial to view them as long-term customers who desire a trusting relationship with their Utilities provider.
To be that trusted partner, here are a few new services that Utilities providers are considering:
- Home Services provider
- Home Protection Plan provider
- Energy Efficiency Program provider
- Low energy producer
- Distribution system optimizer
- Capacity provider
- Energy services supplier for Commercial and Industrial communities (also known as the C&I community)
- Consistent communications
Because today’s consumers expect more out of Utilities providers, including real-time access to more on-demand information and services to help them save money and help the environment, many Utility companies are now providing power usage audits, home services plans, and energy efficiency plans; upgrading consumers to smart meters; and sharing efficiency best practices in monthly newsletters. Leveraging Microsoft Dynamics 365 with PowerObjects can enable Energy Service Providers to deliver services and experiences to businesses and customers, across connected devices, insight, and intelligent action. Think of it this way: you can provide a true customer-centric journey in which energy is simply an underlying commodity cost for the service.