Around 7 in 10 consumers want to reduce energy costs, consumption

The majority of Southeast Asians follow suit, especially those working from home.

Consumers are now taking into account energy as a priority, with 71% of consumers being more interested in cutting their energy costs and consumption compared to the previous year.

In a report by Ernst & Young (EY) the key focus areas for consumers to reduce their energy costs and consumption are monitoring energy usage (65%), reducing environmental impact (61%), and purchasing new energy products and services.

“Energy’s central role in our lives has never been clearer and, for consumers, the issue is now personal. Rising prices, security concerns and the decarbonization agenda have hit home and passive energy consumers are no more,” said Mark Bennett, EY Asia-Pacific Energy & Resources Customer Experience Transformation Leader.

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There are also changes amongst Southeast Asian consumers in thinking about and using energy as a significant majority, particularly those who are working from home, are more willing to adapt behaviours to reduce consumption, said Eric Jost, EY Asean Energy Leader.

EY added that a “critical mass: of consumers are now part of the “omnisumer” category, meaning they participate in a dynamic energy ecosystem. Around 42% prefer multiple energy solution providers over one, and over 25% would switch to a company such as an online retailer, solar provider or home improvement retailer for solutions over their energy provider.

The majority are also investing or intending to invest in other energy products such as energy-efficient appliances (82%), energy-efficient windows, doors and insulation (67%), smart thermostats (60%), and electric vehicles (59%).

The survey was conducted amongst 70,000 residential energy consumers across 18 markets over two years.