As we move into the fourth stage of smart metering maturity, we look at how we can use the data from smart meters to deliver products that help customers with their investments in behind-the-meter technologies. In return, you will retain the customer and increase profitability.
Utilities are often mistaken in thinking that behind-the-meter technologies are separate from their core business and from smart metering. Often a Utility will set up stand-alone business units to focus on these emerging technologies and don’t reflect on how to leverage the data from smart meters to come up with innovative pricing products to help with their objectives.
What if you created new pricing products that made behind-the-meter technologies attractive to your customers? Could you generate new revenue streams by creating partnerships with the resellers of these technologies?
What if you created new pricing products that took advantage of these technologies, reducing the bill of a high-value customer? Maybe they would be less likely to leave you for a competitor?
How about bundling pricing products and discounts for behind-the-meter technologies to customers who don’t pay on time? Maybe offer them these packages if they agree to sign up to ebill and electronic payment. Could the savings from chasing late payers outweigh the costs of these bundled offers?
Rather than seeing behind-the-meter technologies separate from your traditional business model, see them for what they are – a new world of opportunities to retain customers and improve the profitability of your core business.
Could you be using smart meter data to play a meaningful role in your customer’s adoption of behind-the-meter technologies?
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Contact me to find out how we can help you get the most from smart metering, demand response, and behind-the-meter technologies.