Billing And Payment Preferences In Australian Residential Supply: Industry Research

Billing And Payment Preferences In Australian Residential Supply

Published Date: October 2006

Published By: Datamonitor

Page Count: 17

Order Code: R313-18096

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Introduction

With utilities focused on reducing cost-to-serve, opportunities exist within the billing and payment operations to reduce costs in line with customer preferences, thus securing both a lower cost-to-serve and improved customer satisfaction. This brief draws on results from a survey of over 2000 Australian households to highlight customers' predilections for lower-cost billing and payment options.

Scope

A survey of over 2000 households across Australia regarding behaviours and preferences relating to bill presentment and payment.
Analysis of preferences and behaviours overall and broken down by electricity spend

Highlights

Australian households show a preference to shift away from more expensive payment channels to cheaper options, such as Direct Debit, even without an incentive.

If incentivising a switch to Direct Debit, the most popular inducement of those suggested was a 2% discount on each bill.

There is significant interest in options such as bill smoothing and combined electricity and gas bills.

Reasons to Purchase

Identify ways in which to incentivise customers to choose lower-cost payment methods.
Understand the differences in preferences by electricity spend.
Assess the opportunity for smooth billing and combined gas and electricity billing and electronic billing.

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