An evolving energy market provides opportunity for growth and innovation
In the last two decades, the competitive energy market has experienced tremendous growth due to increased deregulation across the US. The emergence of Retail Electric Providers (REPs) to offer electricity contracts to residential, commercial, and industrial customers at more favorable terms than the local utility is more prevalent than ever before.
As REPs continue to increase market share by establishing innovative electricity service offerings and products to meet sophisticated customer needs and expectations, they are faced with challenges related to:
- Customer acquisition and retention strategies
- Dealing with fluctuating utility rates
- Ability to differentiate in the marketplace
- Sales and marketing mobilization and execution
- Varying levels of state-specific metering technology maturity
- Access to usage data
Put our industry experience and proven methodologies to work for you
At West Monroe Partners, we believe that Retail Energy Providers have a significant opportunity to increase enrollments, decrease customer churn, and improve profitability. West Monroe has the core competencies to develop strategies and implement solutions, enabling REPs to differentiate and thrive in an increasingly competitive landscape.
1. Customer Experience - West Monroe understands that REPs require Customer Experience support at various engagement levels, enabling them to enhance customer usage tie-points, expand product/program offerings, and support bill reduction initiatives. This can include:
- Structured demand side management (DSM) programs
- Home Area Network (HAN) monitoring and control of devices
- Renewable/alternative energy choices
- Customer conservation initiatives
2. Enterprise-Level Planning - Enterprise-Level Planning is an essential element to sustain and improve market position while undergoing transformative changes. West Monroe Partners has the capacity to assist with the organizational change management (OCM) and Business process optimization (BPO) elements during the strategic planning and implementation of these transformative initiatives.
3. Systems Integration - This includes the ability to automate the customer enrollment and fulfillment processes. WMP develops the back-office capability that will transform manual entry into a streamlined, seamless process.
4. Data Intelligence - Effective Data Intelligence starts with the acquisition and validation of customers’ load shaping profiles. Data Intelligence occurs by design, not by accident, and successful REPs connect a series of complex back-office systems and dynamic operational processes to acquire customer data and improve their internal energy supply/demand projections.
Why West Monroe?
In today’s competitive energy market, West Monroe Partners enables Retail Energy Providers to improve and grow their market position through increased operational efficiency, cost reduction measures, and increased services revenues. Our multi-disciplinary team ensures that IT Enterprise Architecture, data intelligence, and customer-facing operations are strategically aligned to meet your organization’s objectives.