89% of consumers are interested in energy independence

Around 50% of respondents say they spent more on electricity in the last year, says EY research
89% of consumers are interested in energy independence, says EY research
Worldwide, only 15% of consumers are satisfied with the price of energy. Photo: Pixabay

A survey carried out globally on consumer satisfaction with the energy market showed that 89% of respondents are interested in renewable energy and self-production to reduce dependence on traditional suppliers.

The conclusion is part of the Energy Consumer Survey, produced by EY, one of the largest consulting and auditing companies in the world. 70 residential consumers from 18 countries were interviewed, such as Brazil, China, , , the United States, the United Kingdom and Australia.

According to the research, the number of consumers considering installing solar energy on their roof almost doubled in the period (2021 x 2022), as did those considering purchasing an electric vehicle.

Energy expenditure

Around 50% of consumers say they spent more on electricity in the last year, and more than a third of them believe they are in a situation of energy poverty, which means dedicating at least 10% of their income to electricity and/or natural gas. Bringing it to the Brazilian scenario, 85% of consumers say they are taking measures to reduce energy consumption. 84% prioritize decisions focused on reducing energy costs.

Worldwide, only 15% of consumers are satisfied with the price of energy and accessibility in financial . Only 22% blame geopolitical tensions, such as the war between Russia and Ukraine, for the increase in energy prices. And, for 35% of respondents, the reason lies with energy suppliers, who raised prices to obtain higher revenues.

The study included a diverse sample in of age and income, with at least 18 years old and 75% of respondents appearing as payers or holders of the energy bill. In Brazil, just over two thousand people were interviewed between April and May of last year.

Brazilian among the most confident in the energy market

The survey brings the Energy Consumer Confidence Index (ECCI), an index that measures consumer confidence in the energy market, including the ongoing energy transition, and their optimism about the implementation of these measures.

The ECCI provides an overview of the energy market, following the Consumer Confidence Index model, an index that helps predict economic growth or recession. Among the information revealed is the way consumers view the energy market, the value delivered by energy suppliers, access to clean energy options, financial accessibility and the progress of the transition to a reality with low or no carbon emissions.

In the ECCI ranking, China leads, with 77,6 points, which makes its consumers the most confident in the world in relation to the energy market. Next comes Malaysia, with 70,6; Hong Kong, with 69,2; Canada, with 66,2; Brazil and Australia, tied with 65,5; USA, with 64,8; and Holland, with 63,2.

Generation Z (under 25 years old) has the highest ECCI among Brazilian consumers. On the other hand, the so-called boomers (over 57 years old) are the least confident. More than two-thirds of Brazilian respondents say they are interested in renewable energy, home power generation and new energy products and services. Almost half — 47% — accept paying more for sustainable products and services, but below the percentage recorded in the previous study, which was 53%.

“The EY survey indicates relevant challenges for the energy market, demonstrating that Brazil is connected to a global agenda, with a growing number of young consumers who will continue to demand innovative and sustainable services from companies”, says Ricardo Fernandez, partner responsible for EY's Power & Utilities industry.

In order for the country to continue to occupy a relevant position in global discussions, it is essential, in Fernandez's opinion, to solidify the regulatory framework, as well as for large energy suppliers to be aware of the profound transformations required by this new reality.

“In this context, rethinking your business processes, systems architecture and technology, in addition to being attentive to the cultural aspects of organizations, will be essential to operate successfully in the new energy world, where captive customers are unlikely to be part of everyday life. ”, concludes the executive.

Photo by Wagner Freire
Wagner Freire
Wagner Freire is a journalist graduated from FMU. He worked as a reporter for Jornal da Energia, Canal Energy and Agência Estado. Covering the electricity sector since 2011. Has experience in covering events such as energy auctions, conventions, lectures, fairs, congresses and seminars.

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