Understanding the Strained Ratepayer
Understanding Where Utility Bills Rank in the Modern Household Budget
Challenge
Bellomy aimed to explore how changes in household expenses impact customer priorities and utility bill payments. The goal was to gain insights into customer financial pressures and their implications for utility companies.
Solution
In Fall 2024, Bellomy conducted a survey as part of its quarterly Utility Heartbeat Poll, asking panelists to reflect on their household expenses and income. A follow-up poll was conducted to further understand the integration of these expenses into customer budgets.
Results
Increased Household Expenses
The majority of participants reported that their bills consume more of their income compared to the previous year. Nearly all noted increased food expenses, with about three-quarters also citing higher car and internet bills. While increases in electric and gas bills were less pronounced, over half still reported higher utility costs than the previous year.
Budget Prioritization
In the subsequent poll, over half of the respondents identified rent or mortgage as essential expenses, followed by nearly one-third who prioritized electricity, water, and natural gas bills. These utilities ranked higher in payment priority than car, internet, and phone bills.
Customer Response to Financial Strain
If faced with difficulty paying utility bills, over three-quarters of customers indicated they would contact their utility to seek an extension or establish a payment plan. This underscores the importance of utilities being approachable and flexible during financial hardships.
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—Tiffany/Market Researcher, Utilities
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