Brattle Principal Ahmad Faruqui has authored an article on the importance of customer centricity in utility industry strategy, which has been published in the November 2019 issue of Public Utilities Fortnightly.
The article, “Customer Centricity: Lynchpin of Utility Strategy,” argues that customers must be central to utilities’ strategies because utilities’ revenue model continues to be premised on sales growth, which has remained nearly stagnant since the end of the Great Recession.
Dr. Faruqui’s article points out that customers do not purchase electricity for the sake of owning electricity but in order to derive energy services from it. Utilities that transition to become energy services utilities (ESUs) will be placing customer needs at the center of their business model. Utilities will likely see a growth in sales as well as customer loyalty if they analyze customer decision making and listen to their customers’ needs.
Read the full article on the Public Utilities Fortnightly website.View Article