Press release
29 Nov 2022  | London, GB

Providers risk being left behind as energy becomes a personal priority for consumers – EY research

Press Contact


  • The passive energy consumer is no more – 71% of consumers are more interested in reducing energy costs and consumption compared to a year ago
  • Confidence in energy providers shaken – only 40% of consumers are confident they will create value
  • Transforming customer experience is now an imperative for energy providers’ survival

Energy is now top of mind for consumers as it increasingly impacts their lifestyles and their wallet. This is according to the EY ‘Energy transition consumer insights’ report, which surveyed 70,000 residential energy consumers, across 18 markets over two years. The research shows that 71% of consumers are more interested in reducing their energy costs and consumption today compared to a year ago, with 65% saying their interest in monitoring their energy usage, reducing environmental impact (61%), and purchasing new energy products and services (50%) has increased in the past year.

This year’s insights reveal that a critical mass of consumers has now joined the “omnisumer” category – a person or business entity who participates in a dynamic energy ecosystem across a multitude of places, solutions and providers. Nearly half of consumers (42%) say they would prefer multiple energy solution providers over a single one, and more than 25% would turn to a company such as an online retailer, solar provider, or home improvement retailer over their energy provider when it comes to solutions. Meanwhile, the majority of consumers have already invested or intend to invest in products that change their energy lifestyles – 82% in energy efficient appliances; 67% in energy efficient windows, doors and insulation; 60% in a smart thermostat; and 59% in an electric vehicle.

Greg Guthridge, EY Global Energy & Resources Customer Experience Transformation Leader, says:

“Energy’s central role in our lives has never been clearer and, for consumers, the issue is now personal. Rising prices, security concerns and the decarbonization agenda have hit home and passive energy consumers are no more.”

Confidence 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.

Guthridge says: “It is clearer than ever that it is the consumer who will play the most critical role in creating a sustainable energy future. And while consumer engagement in energy has never been higher, there is much more they will need to do personally, particularly as their confidence in energy providers, and in the industry itself, has been shaken.”

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 product and service experiences.

However, opportunities do exist for those energy providers who find ways to engage and inspire change. Eighty-one percent 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.

Guthridge says: “Energy providers can do more to support consumers amid ongoing uncertainty and change. Investing in the capabilities that will help consumers move forward on their energy journey is a no-regret action. Providers cannot go back, stand still or even slow down. Transforming the customer experience is now an imperative for survival.”

EY believes energy providers can seize consumer momentum now and light the path ahead through six no-regrets strategic imperatives that reinvent the energy experience, build a foundation for tomorrow, and engage and inspire consumers. Find out more  here.

 -ends-

Notes to Editors

About EY

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

Related news

Wavering consumer confidence could stall the energy transition, new index finds

LONDON, 26 April 2023. The energy transition is in full swing, but are consumers convinced of the benefits? Wavering consumer confidence may stall progress, according to a new Energy Consumer Confidence Index (ECCI) published today.

Providers risk being left behind as energy becomes a personal priority for consumers – EY research

LONDON, 29 NOVEMBER 2022. Energy is now top of mind for consumers as it increasingly impacts their lifestyles and their wallet.

EY modelling reveals multiple energy transitions accelerating around the world, but handbrakes risk progress

LONDON, 5 DECEMBER 2023 Changes to the energy system have reached critical momentum and will continue to accelerate over the next decade, but several handbrakes pose a serious risk and could stall progress, according to the new EY report, If every energy transition is different, which course will accelerate yours?

Offshore wind reaches crossroads, as spiraling costs and supply chain issues force developers to reassess projects – EY research

LONDON, 14 NOVEMBER 2023 Turbulent times in the offshore wind sector could change the way large-scale energy projects are built and funded in the future, according to the latest EY Renewable Energy Country Attractiveness Index (RECAI).

ESG remains the top focus for miners, but capital risks increase as mineral demand pressure builds amid energy transition

LONDON, 12 OCTOBER 2023. Mining executives rank Environmental, social and governance (ESG) as the biggest risk to their business, according to the EY Top 10 business risks and opportunities for mining and metals in 2024 report.

US gains ground in electric vehicle readiness, but China and Norway remain out in front

LONDON, 9 September 2023. China has retained the pole position when it comes to progress toward an electric vehicle (EV) future, according to the latest EY Electric Vehicle Country Readiness Index.