Consumer Trends 2024 – Affordability: Energy Affordability Challenges Through the Eyes of Residential Customers

Chartwell’s 2024 Residential Consumer and Future Views of the Customer Surveys take a close look at the customer-utility relationship through the eyes of consumer preferences and expectations. This year three key themes were identified: Energy Affordability Challenges, Digital Experience, and Consumer Expectations for Utility Roles in the Future. This report, the first in the series, offers insights on energy affordability, an ever-present challenge for utilities and their customers in light of rising costs and the need to maintain efficient, reliable, and cost-effective operations.

Investments that utilities make to improve their operations, grid reliability, security, and more rely on funding that comes in no small part from utility customers. Although many projections anticipate that consumers’ energy costs will decrease in the long term, immediate financial pressures can add friction to the customer-utility relationship. A strategic and balanced response to customers’ increasing expectations is needed to reduce friction and promote partnership between the utility and its customers.

CONTINUE READING

• To continue reading this research piece, please login using your Chartwell credentials and click the “View Resource” button.
• If you do not have login credentials, click here to connect with Tim Herrick about Chartwell Membership.