The implementation of free consumer concept in the energy industry creates significant opportunities in the market for the companies and customers while the rights acquired by the free consumers can also pose major risks for energy companies. Experian minimizes the risks that can arise from customer payments through effective credibility management processes and offers solutions to energy industry leaders for maximizing the benefits that both the companies and customers can gain.

Istanbul, Turkey, April 13, 2017 - The implementation of free consumer concept in the energy industry creates significant opportunities for the companies and customers while the rights acquired by the free consumers can also pose major risks for energy companies. While the customers' credit risk management becomes unavoidable, determining effective strategies from customer targeting processes to collection management is very important.

A major priority of the electricity retail industry is to increase the number of contracts by creating awareness among subscribers and transferring them into free consumption agreements, said Experian Turkey General Manager Mehmet Bozacıoğlu, adding: 'Lifting or lowering the current free consumer limit applied in the existing system will create a more competitive environment among the retail companies of the industry and trigger an orientation towards more favorable alternatives particularly for those subscribers with higher price sensitivity.'

Mehmet Bozacıoğlu stated that all the energy companies in the market should develop a healthy growth strategy for the regions outside their own regions and distribution regions. He said: 'Systematical handling of the steps to be taken in the process of determining the customers with low creditworthiness and high price sensitivity and giving offers through data-based analysis decision support systems designed together with industry experts plays a significant role in managing the existing risks most effectively. At Experian we offer infrastructure and consulting services that combine the right channel, right customer and right offer components for effectively growing the free customer portfolio.'

Experian's suggestions and recommendations for the energy industry leaders include:

  • Effective customer segmentation (granular determination of subscribers, offers and actions)
  • Building collection management framework
  • Adaptation of customer and data-driven credit risk management practices

About Experian

Experian is the world's leading global information services company. At life's big moments - from buying a home or car, to sending a child to college, to growing a business by connecting it with new customers - we empower consumers and our clients to manage their data with confidence. We help individuals take financial control and access financial services, businesses make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.

We have 17,000 people operating across 37 countries and every day we're investing in new technologies, talented people and innovation to help all of our customers maximize every opportunity. Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Learn more at www.experian.com.tr or visit our global content hub at our global news hub for the latest news and insights from the company.

Experian plc published this content on 13 April 2017 and is solely responsible for the information contained herein.
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