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This report examines the evolution of smart meter based prepaid electric service in the United States (US).
The early experience with this new payment option, especially among the rural electric cooperatives, suggests that there can benefits for consumers and utilities alike.
For householders, these include better control over their energy usage, reduced consumption, bill savings, and increased customer satisfaction, while utilities can experience improvements in collection and debt levels, operational efficiency, and front-line staff morale.
The potential benefits of offering a prepaid option for consumers are attracting interest from a wide range of utilities, including the investor-owned companies who serve around 70% of the nation’s residential electric customers.
The purpose of this report is to illumine the opportunity for utilities as they prepare for their prepaid pilots and service launches.
The report provides a review of market developments and the status of regulation, insights into prepay program design, and consumer adoption forecasts for the next five years. It also examines the vendor landscape for smart prepayment back-office solutions.
Access the report here.