Confidence is shaken but sustainability engagement is resilient
In all aspects of their energy experience, consumer confidence has been deeply shaken, creating potential barriers to the energy transition. Only 40% are confident their energy provider will create value for them and their community in the future, and less still (35%) are confident in the affordability of their energy in the next three years.
Conversely, consumer engagement in sustainability is resilient, with more than one-third (39%) willing to pay a premium for sustainable products and services – up from 36% last year. However, only half (51%) of consumers are clear about the actions and investments they can make in order to be more sustainable. And less than one-third have a good understanding of terminology such as “renewable energy”, “sustainability”, “carbon neutral” and “net zero” – this remains unchanged since last year’s survey, despite media attention on the energy crisis and climate change.
Energy experience out of step with consumer transformation
Almost all consumers are making some changes to their lifestyles to reduce energy and save money, time, and the planet. However, the energy experience of today is out of step with the speed and breadth of the consumer transformation that is underway. Nearly three-quarters (72%) of consumers are not satisfied or only partially satisfied with the performance of their energy provider when it comes to new energy products and service experiences.
However, opportunities do exist for those energy providers who find ways to engage and inspire change. 81% of consumers tell us they want their energy providers to offer support and advice about new energy products and services, and they still turn to providers first when purchasing new energy solutions. Similarly, nearly three-quarters (73%) are interested in some form of energy metaverse experience.
EY believes energy providers can seize consumer momentum now and light the path ahead through six strategic imperatives that reinvent the energy experience, build a foundation for tomorrow, and engage and inspire consumers. Find out more here.
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About EY Romania
EY is one of the world's leading professional services firms with 365,399 employees in more than 700 offices across 150 countries, and revenues of approx. $45,4 billion in the financial year that ended on 30 June 2022. Our network is the most integrated worldwide, and its resources help us provide our clients with services allowing them to take advantage of opportunities anywhere in the world.
With a presence in Romania ever since 1992, EY is the leading company on the market of professional services. Our more than 900 employees in Romania and Moldova provide integrated services in assurance, tax, strategy, and transactions, and consulting to clients ranging from multinationals to local companies.
Our offices are based in Bucharest, Cluj-Napoca, Timisoara, Iasi, and Chisinau. In 2014, EY Romania joined the only global competition dedicated to entrepreneurship, EY Entrepreneur Of The Year. The winner of the national award represents Romania at the world final taking place every year in June, at Monte Carlo. The title of World Entrepreneur Of The Year is awarded in the world final. For more information, please visit: www.ey.com