The energy market is undergoing a period of disruption. New technological developments, such as smart meters and Artificial Intelligence (AI), have transformed the competitive landscape, as customer experience (CX) becomes the key metric of success. With hundreds of thousands of customers unable to effectively communicate with their providers, 2018 was a particularly destructive year for the energy industry and we continue to see those trends in 2019.

At one end of the spectrum, Bulb Energy’s revenue increased by 1,700% between April 2017 and March 2018, making it the fastest growing private company in the UK. Propelled by exceptional ratings, the business was positioned 4th in the UK between July and September 2018 by the Citizens Advice Bureau. Meanwhile, the introduction of new technologies has rendered several small-to-medium organisations unable to keep up with customer service trends and demands, leading to closures. Small suppliers are competing in a ‘race to the bottom’, as ever-cheaper tariffs broaden the customer base – yet this alone does not ensure survival in...

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May 31, 2019
Category: News