Smart Pay As You Go (PAYG)
PAYG is a digital platform to drive customer engagement and experience
Our thin approach to prepayment results in a true PAYG experience. Using a single central wallet consumers can monitor their balance, receive predictions on duration of credit and top up whenever and wherever.
OVO Energy selects Siemens as its partner in energy retail innovation
Siemens Managed Applications and Services decided to leverage established technology already deployed in the mobile telecommunications industry, to design an innovative smart PAYG system that utilised a ‘thin’ smart meter-based approach.
More than simply meeting your regulatory requirements
Ease of implementation
We offer a straightforward implementation of achievable in a matter of months. The programme is designed for minimal constraint on your resource and finances. Proven integration with internal supplier systems such as CIS & billing.
Reduction in cost to serve
Your cost to serve can be reduced significantly by a thin approach (compared to the standard thick approach to PAYG). Savings arise from several factors including a major saving in investment terms on in-home displays, thin approach negates need for an IHD focusing on using technology. Access through an app is straightforward and intuitive and above all flexible.
No reliance on IHD’s gives a future benefit, insulating you from the ongoing cost of replacement of broken IHDs and the potentially large cost of replacing many of them as they come to the end of working life.
Managing both electricity and gas balances together in tandem through a central wallet can deliver cost savings. You know the typical picture where over the warmer summer months a customer builds up a significant debt resulting from standing charge, when they first go to use gas after a cooler day and top up an amount that is insufficient to cover the debt. They are compelled to contact you to understand. This drives an increase in customer contacts and as a result cost. The central wallet prevents this standing charge debt build up and maintains a greater level of consumer engagement with their energy usage, whenever and wherever.
The thin use of a central wallet delivers further cost savings as it significantly reduces the volume of transactions you are required to pay. The standard approach with separate gas and electric balances require a specific top-up for each of these. Whereas the central wallet is simply one transaction to deliver the same outcome.
Siemens are ready for the mass roll-out of smart meters, learnings from the programme to date have been taken into account and the offering is now SMETS2 enabled, integrating with a partner’s adapter for communication with the DCC.