August 09, 2018
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With almost 60 energy companies operating in the UK and a record 5.5 million customers switching energy suppliers in 2017, the Utilities and Power industry is becoming increasingly competitive in the market as the loss of market share between the Big Six has seen 30% of switches to small and mid-tier energy providers.
From smart grids and smart meters to data collection and the Internet of Things, digital is transforming the UK’s utility and power industry with companies having to develop digital-orientated business models that allow them to better meet shifting customer behaviour and growing customer fluidity.
Digital has never been more important to companies in the utility and power industry and by 2020, 95% of bill-paying customers will be fully digital-savvy. Clearly then, the companies with the strongest online presence and continued commitment to digital will be the ones who benefit most – both now and in the future.
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