Smart Prepay Energy
Innovations in smart grid technology and faster communications are enabling utilities to adopt new business strategies and pricing models. By 2020 it is projected that there will be roughly 800 million smart meters installed globally. This presents a huge opportunity for utility providers to increase customer satisfaction, increase energy conservation, reduce bad debt, and reduce utility cost of service, while improving profitability. Additionally, traditional or “thick” prepaid meters will soon face end-of-life.
With Redknee’s smart prepay energy solution integrates with AMI, allowing energy providers to create pay-as-you-go (PAYG) offerings for electricity, water or gas with flexible price plans and dynamic pricing methods. With this solution energy providers can rapidly launch new tariffs and services to challenge the traditional business model and offer customers easily accessible and convenient energy solutions that meets their needs. What’s more, energy providers can significantly lower risk and OPEX by eliminating collection cost of unpaid bills and reducing complaints.
Improve Cash Flow and Operations
Redknee’s smart prepay energy solution provides both prepay and pay-as-you-go pricing models out of the box to protect revenues and improve cash flow. In addition, energy providers can increase revenues through innovative new products and services, and new business models, such as partnership-based offerings.
Enhance Customer Satisfaction
Energy providers can increase customer satisfaction and drive loyalty by giving customers more control over their energy spending. Through self-monitoring or automated notifications to their smartphone or other mobile device, the customer gains a real-time view of their energy usage and spend. The customer is empowered with immediate online access to their credit and consumption information. This transparency will help customers improve energy efficiency and avoid unexpected disconnects.
Features of Redknee’s Prepaid Energy solution:
- Pre-integrated with leading Meter Data Management and Head-End Systems
- Dynamic rating and pricing management
- Low Balance notifications and meter control functions
- Vending and top-up functionality for street dealers, POS owners and kiosk
- Integrated into PayPal
- Rich set of web services (REST) APIs for integration into Customer Information Systems (CIS) and Payment Gateways
- Customer portal accessible via mobile clients (Web) and SMS
- Operation portal with integrated CSR desktop
- Remote connect and disconnect functionality
As the energy sector continues to implement smart technologies, Redknee is helping a number of energy companies to look beyond to prepare for a more connected future. We recently announced a partnership with Elster to deliver an end-to-end energy solution, which includes a pre-integration with their Connexo MDMS. To read the full announcement, click here.