Empowering Energy Customers with Sustainable Digital Payouts

Energy Customers Want Sustainable Digital Payouts, Onbe’s Survey Finds

Do your energy customers have the power of choice? With full or partial energy deregulation in 17 U.S. states and the District of Columbia, more consumers than ever can choose their energy provider—and they’re looking for convenient, eco-friendly digital payment experiences that align with their values.  

In Onbe’s 2023 Energy & Utility Payments Survey, we asked over 600 consumers what they expect from the payout experience, whether they’re owed an incentive, energy efficiency rebate, or a refund after terminating their contract. Our respondents’ preferences aligned with the most cost-effective, efficient, and sustainable approach to making payments at scale: digital solutions. By shifting to a payouts gateway offering digital choices, retail energy providers can not only stand out by providing their customers with in-demand options, but they also can streamline their payment operations to reduce costs and labor—key to staying resilient regardless of deregulation status.  

Influencing provider choice

38% of Onbe’s survey respondents were in deregulated markets and could choose their retail energy provider. While the provider’s popularity in market held some sway, consumers were influenced more by their bottom line, with more than half reporting that competitive rates drove their selection. Incentives are also a key component of an attractive deal, with 35% of consumers reporting they would be most influenced to sign up with a provider if they received an energy efficiency rebate.  

To get the most value from their incentives program, energy companies should consider using a payouts gateway to offer the most popular choices, including instant virtual payments. Onbe’s survey found that 62% of energy customers prefer digital options, such as virtual prepaid cards, payment apps, and digital wallets. These choices offer convenience and fast gratification, allowing customers to immediately use their incentives to pay off debt (31% of respondents), enjoy shopping and entertainment (25%), donate to charity (8%) and more.    

Zeroing in on sustainability

Digital payments are key to reducing carbon emissions, saving nearly 25 grams of CO₂ per payment compared to a physical card—a win for environmentally conscious energy companies and their customers, alike. Onbe’s survey found that 67% of consumers look for more sustainable behaviors from their providers, including clean energy options. Consumers also rated their personal sustainability practices as 7.7 out of 10 in importance, on average, suggesting that they value opportunities to make greener choices—from opting for paperless billing to reducing their energy use at peak times.

With many energy companies transitioning to renewable power and striving to reach Net Zero in the coming decades, eco-friendly payouts are a natural extension of larger green initiatives and can empower customers to make a positive impact on their own—whether by earning an incentive for energy-efficient behaviors or by choosing to receive a greener payment option at the point of payout.

Meeting customer needs more efficiently

Leveraging a managed disbursements provider and fast-to-deploy digital payment options can also help utility companies make ad hoc payouts more efficiently. For example, our survey found that 40% of consumers who had experienced a prolonged power outage received an appeasement payout to cover losses such as spoiled food. Companies can get these programs off the ground quickly by offloading activities such as payment fulfillment, fraud prevention, and customer service to their payments partner, reducing complexity and risk while gaining the flexibility to quickly meet customer needs.

With the energy and utilities sector continuing to undergo changes ranging from deregulation to decarbonization to digital transformation, switching to a modern payment solution can help companies stay agile and operate more efficiently as they meet the future of energy. Learn more about Onbe’s sustainable, cost-effective solutions for energy companies.