Energy security, affordability key focus among consumers

KUALA LUMPUR: Energy security and affordability remain foundational expectations among consumers, according to the Ernst & Young (EY) Energy transition consumer insights report.

The report surveyed 70,000 residential energy consumers across 18 markets over two years, including 4,000 consumers in Malaysia.

In a statement yesterday, EY Consulting Sdn Bhd shared that the research shows that 79% of Malaysian consumers are more interested in reducing their energy costs and consumption today compared to a year ago by monitoring their energy usage, reducing environmental impact, and purchasing new energy products and services as the key focus areas among the consumers.

“This year’s insights revealed that a critical mass of consumers has now joined the ‘omnisumer’ category. This is a person or business entity that participates in a dynamic energy ecosystem across a multitude of places, solutions and providers.

“Nearly three-quarters of Malaysian consumers (71%) say they would prefer multiple energy solution providers over a single one, and more than 25% would turn to a company such as a green charity, solar provider, or home improvement retailer over their energy provider when it comes to solutions,” said the report.

Meanwhile, it said the majority of consumers have already invested or plan to invest in products that change their energy lifestyles, which is 90% in energy-efficient appliances, as well as in energy-efficient windows, doors and insulation; in automatic home cooling, and electric vehicles. — Bernama

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