Increasing understanding to improve the industry
It’s no secret that the energy industry has gained a bad reputation for customer experience. At CNG, we’re determined to be different and to try lead our sector in to changing for the better. We believe that there needs to be greater trust and understanding within the industry, which can only be achieved if suppliers are more transparent with energy users, sharing their knowledge and understanding with both domestic and business customers.
However, a recent survey has shown that more than four in ten British people don’t know about their energy tariff. Energy users still don’t have a good understanding of our industry, or their own supply, and this in large part is due to the fact that there’s no real meaningful communication between energy companies and the businesses and households they supply to.
This is having a negative impact on energy users, and the industry as a whole. Because there is little understanding, consumers are confused and feel that energy companies are being dishonest and do not have their best interests at heart. Not only is this making it so that negative customer experiences are the norm, but it’s preventing consumers from having the confidence to find a better deal.
The same survey found that one in five British people have stayed with the same energy supplier for upwards of a decade, despite the fact that if they switched, they could have found a better deal. The savings which could have been achieved by switching were estimated to be around £231.47 each year, and reasons for not switching varied from not trusting other suppliers, to not having enough time.
The issue of trust is relevant both in business and domestic supply, especially in the case of SMEs. Small businesses, through no fault of their own, don’t have the time or resources to dedicate to energy supply, and this is where the industry needs to step up and support. After all, there are many similarities between domestic and SME energy buying.
Through a lack of understanding and knowledge, businesses and households are missing out on significant savings, as well as having a bad experience of the energy industry. Sadly, this is nothing new, for years the media has been saturated with stories about energy users being overcharged, placed on the worst value deals and feeling as though they don’t know what to do.
Energy suppliers have the power to change this, and to empower their customers through investing time and care in them, and being open and honest. This is something that we’re been trying to drive throughout the industry through our ‘Power Up’ initiative, championing trust, honesty and doing the right thing by energy users. It is only when this happens that energy users will feel knowledgeable and confident enough to take control of their supply and ensure that they have a tariff and supplier that is right for them.