The consulting firm Simon-Kucher has published the results of its latest global study on energy consumers, in which more than 6.000 respondents from 6 European countries took part, including 1.000 French. This study analyzes the behavior of households in the face of the current energy crisis, the perception that consumers have of their energy suppliers and the trends concerning the rate of cancellation.
The study reveals that energy suppliers are not perceived as solution providers by a majority of French consumers. Their product portfolios are very little known to their customers: on average, each customer only subscribes to two products with their supplier and only 2 out of 5 customers are aware of the offers offered by their energy suppliers apart from electricity. , gas and water. Some innovative solutions such as electric mobility or smart home services remain largely unknown to the public: less than one in ten consumers say they are aware of these service offers.
Consumers consider that electricity prices are high while the majority of tariff increases have not yet been passed on in the contracts signed
Two out of three respondents consider electricity prices to be high and 62% of them do not expect the price of energy to decrease over the next two years. According to our experts, these inflationary forecasts may indeed materialize, given that the price increase has not yet reached most consumers due to the extension of the duration of contracts.
High prices are pushing consumers to switch providers more frequently and churn rates are expected to soar compared to previous years
One out of 3 customers surveyed reported one or more changes of energy supplier in the past 3 years. The cancellation rate has tripled between 3 and 2015 and should continue to rise in 2021. For those who have not yet taken the plunge, the share of French consumers who say they are ready to change supplier has more than doubled since 2023, with almost 2021% of respondents acknowledging that they are likely or very likely to switch energy supplier in the next 20 months.
For customers who do not intend to switch electricity supplier, satisfactory contractual conditions and the absence of glaring problems stand out as the main factors for their retention. The main reason given for termination is price, but paradoxically enough, the choice of a new supplier is based on price in only 24% of situations. Other selection criteria play an important role in the choice of a new supplier, such as the recommendation of a third party or the ease of taking out the contract.
Energy providers are not fully exploiting the potential of innovative energy solutions
The study assessed customer interest in alternative energy sources such as photovoltaic panels. On average, 75% of French consumers surveyed are interested in this type of solution when it is possible to install them. As for tenants, the study reveals that more than 90% of them show a strong interest in sustainable energy solutions, despite the fact that they do not always have the possibility of installing them. Despite this general enthusiasm, the study reveals that only 7% of respondents have to date installed an alternative energy solution: the sector is therefore very promising for energy suppliers able to capture this market potential.
Consumers are increasingly interested in how the market works and in measures to reduce the amount of their electricity bills
While customers perceive electricity as a particularly expensive product, the study reveals that in reality, most of them do not know the tariffs provided for in their contracts. More than 60% of French customers thus acknowledge that they do not know the price they pay per kWh. This “energy paradox” actually reveals that energy suppliers have a lot of room for improvement in terms of communication and customer relationship management.