Tuesday, February 18, 2014

Parks Associates Announces New Consumer Satisfaction Research on Time-Of-Use (TOU) Electricity Billing and Variable-rate Pricing at 2014 Smart Energy Summit

Energy conference sponsored by Speed Wire, Percepscion, and more

U.S. households with time-of-use (TOU) electricity billing are more satisfied with their electricity service, according to new research Parks Associates announced today at the 2014 Smart Energy Summit. Among energy consumers with free nights or weekends, 53% are “very” satisfied with their overall electricity services, but only 34% without this TOU service are very satisfied.

Smart Energy Summit, February 17-19 in Austin, features keynotes from Austin Energy, Nest, Lowe's, Comcast, and ecobee. 2014 Smart Energy Summit sponsors are Speed Wire, Percepscion, Alarm.com, Earth Networks – WeatherBug, ecobee, EcoFactor, Lowe's, Opower, People Power, PlanetEcosystems, Qualcomm, Technicolor, Z-Wave, AlertMe, Schneider Electric, and Tendril.

"Consumers are notoriously reluctant to adopt variable-rate plans for fear it will increase their costs; Parks Associates research finds over one-half of consumers expect their electric bill would increase under these plans," said Tom Kerber, Director, Energy and Home Controls Research, Parks Associates. "But once a home with a TOU plans adapts consumption patterns to off-peak times, consumers will see lower electricity bills, which could contribute to higher satisfaction."

Parks Associates research shows 5% of U.S. broadband households switched to a TOU plan in the last 12 months in an effort to lower their monthly bill. Households using TOU plans have higher electricity bills on average.

"The connected home is changing the consumer relationship to all home services, including energy, security, and controls," Kerber said. "This week at the 2014 Smart Energy Summit, we are discussing research and current market trends with more than 250 industry leaders to identify new strategies to engage consumers in energy-related and smart home services.”

The Dallas-based firm is a leader in consumer energy research and hosts the Smart Energy Summit each spring. Materials from the summit are available by contacting Holly Sprague at hsprague@gmail.com or 720.987.6614.

About Smart Energy Summit

Smart Energy Summit: Engaging the Consumer addresses the evolution of the consumer utility market, the impact of COVID-19 on energy management programs, and new opportunities to drive engagement in utility-sponsored programs. Virtual panels and networking sessions, featuring executive-level experts from multiple industries, address discuss strategies for utilities, service providers, retailers, software providers, and manufacturers to expand and monetize energy management and other energy-focused offerings through consumer engagement, new business models, unique partnerships, and innovative technologies.

Smart Energy Summit hosts virtual sessions on February 23-24, April 28, August 4, and October 27 in 2021. The summit agenda features leaders from utilities, state and national regulators, telecom and security companies, retailers, and OEMs. Follow the event on Twitter at @SmartEnergySmt and #SmartEnergy21. For information on speaking, sponsoring, or attending Smart Energy Summit, visit www.ses2021.com.
 

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