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Deloitte Resources Study 2014

July 23, 2014

Informed & In Charge

What Other Purchases Would Consumers Make from their Utilities Company
What other purchases would consumers make from their utilities company?

Knowledgeable Electricity Customers Seek Greater Choice and More Control of Energy Value Chain

The Study provides a number of useful insights into U.S. consumers of energy resources, including three of the most critical questions electric company executives and boards face today:

  • What do my customers truly value, and what will they potentially demand beyond safe, reliable, affordable, and now environmentally responsible, electricity?
  • How are advancing technologies and new market entrants affecting the U.S. electric marketplace?
  • In what ways are opportunities evolving for “the utility of the future”?

The Study captures two perspectives: The business portion is based on more than 600 online surveys with business decision makers. The consumer portion is based on more than 1,500 demographically balanced online consumer surveys.

The Deloitte reSources Study 2014 is the fourth issue of an annual study which commenced in 2011, designed to gauge how businesses and consumers are managing their energy resources consumption, particularly their electricity usage. The 2011 study revealed the “Great Recession” was clearly influencing customer behavior: Businesses and consumers were taking actions to reduce their energy resources consumption, and they were doing so mainly as a means to cut costs.

Over the course of a few years, however, the findings suggested a fundamental change was taking place as opposed to a short-term response to difficult economic conditions. Many businesses, for instance, had set long-term goals of reducing their electricity resources consumption in the range of 20 25% over a three- to four-year period, and they were sticking with these goals and allocating significant resources to them, even as the economy improved and their focus on cost-cutting lessened in favour of growth. On the consumer side, an attitude of “resourcefulness” had become entrenched, and consumers, by and large, indicated they did not intend to revert back to their prerecession electricity resources consumption patterns. A sustained movement toward thoughtful, deliberate energy consumption was essentially underway. The findings of this year’s study provide further insight into the direction this movement is taking and what it may mean to electric companies and to businesses of various sizes across industry sectors.