Energy question: Is demand management key to slashing electricity bills?
And since the nation is spending more time indoors, experimenting with different pastimes and hobbies has become the norm.
But according to new research by Origin Energy, some households are interested in doing more than just hunting down a new Netflix series. In fact, they’re looking to slash their energy bill and be rewarded for it with a concept called ‘demand management’.
Origin found that 76% of Aussies are willing to adjust the temperature on their heating or cooling appliances to receive financial incentives or rewards. More than half (58%) would be okay with their energy provider contacting them via text to encourage them to adjust temperature settings.
In short, demand management is a concept that asks energy users to reduce their consumption entirely during hours when electricity demand is at its highest in exchange for an incentive, such as a gift card or credit on your annual bill.
Demand management has grown in popularity over the year, both among retailers and regulatory bodies, as it has the potential to benefit both energy customers and the industry.
“Demand management helps to reduce strain on the network when the balance between supply and demand can be tight, and also assist with the transition towards a cleaner, smarter energy system in Australia,” said Origin executive general manager retail, Jon Briskin.
“While customers will be rewarded for shifting their energy use, the broader network will also benefit as we can help reduce demand, and support grid stability during peak periods.
How Aussies feel about using other technologies
Given the benefits and uptake of demand management amongst many households, Origin also found that Aussies also believe that the prospect of technologies will also help the industry.
More than majority (71%) believe that new forms of technology will revolutionise how the country uses and purchases energy, while 65% said it would also make it easier to manage their electricity consumption and bills.
Want to learn more about how demand management works? Check out our detailed guide!
Or if you’d like to learn more about Origin’s new demand management program, Spike, have a read of our recent article.