Why Doesn’t Dynamic Pricing Make Sense for Electricity Customers?

It does. Messaging is the problem.

Every day, we spend money on products that are priced based on how in-demand they are. Phone plans give free nights and weekends. Airplane tickets are more expensive during holidays. Sports tickets go up when the team’s arch-rival is in town.

When it comes to electricity pricing, however, the idea of costs shifting throughout the day or year “does not make sense” to the majority of people polled in a new survey by EcoAlign, a marketing agency focused on energy and the environment.

Respondents wanted assurances that their bills wouldn’t go up, while others wanted technology such as smart thermostats to help manage use if they enroll in programs

About one-third of the 1,000 people surveyed thought dynamic pricing did make sense, with savings being the biggest driver. But glancing at a word cloud shows that the strongest associations were that dynamic pricing is a rip-off, confusing, unfair and expensive.

(Follow the link above to read the full article or download DEFG’s report now.)

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