Energy as a Service Market is projected to reach $112.7 billion by 2030, growing at a CAGR of 7.6% from 2021 to 2030. Further, considering that various states in India are easing covid related restrictions and businesses are operating at full capacity, the demand domestically has risen. Pozitive Energy an Ofgem-licensed energy provider and a leading independent, technology-led supplier of electricity and gas to the B2B market is one of the UK’s fastest-growing energy suppliers capturing more than 1% of the market with year-over-year sales growth of 480% in 2020 by Industry Analyst Plimsoll and Cornwall Insight. It is also the only energy supplier with zero non-conformity in all industry audits for the last several years in a row. It has offices spread across 3 continents and employs over 600 employees. CXOToday in conversation with Vipin Pathania, COO- Pozitive Energy.
Share your opinion on the current industry situation in India.
The energy sector in India is evolving drastically. From the increase of renewable energy in the energy mix to the privatization of the sector, there is a 360 degrees shift. Currently, customers are facing issues in terms of billing, service, power cuts, and delayed new connections. All of these issues can be resolved once deregulation takes place.
How do you fill in the gap with the opportunity in the industry?
The experience of operating in the UK for so many years taught us to be financially independent, technologically strong & people positive. These three pillars have made us grow exponentially. As an organization, we turned the pandemic into an opportunity for all of us. Our SaaS-based technology was put to its best use during the COVID lockdown as all our systems are in the cloud & enabled us to seamlessly work without any disruptions whatsoever. Our systems can fill in the gaps of manual dependency to communicate with various partners involved in this industry like generators, transmitters, distributors, meter operators, data collectors and aggregators.
What is the greatest challenge the industry is facing?
The UK’s renewable energy sector is facing significant challenges as a result of political, environmental, and social pressures. This includes the country’s goal of achieving net-zero emissions by 2050, concerns about emerging technologies, growing public awareness of climate change issues, and a difficult market for renewable energy. All these factors have caused some unpredictable price hikes in utility bills. The shift towards smart metering is also posing subsequent challenges, government subsidies are not a long-term sustainable model. The industry needs better infrastructure & investments for continued growth and evolution.
How has the new tech innovation created new standards for the industry by your company?
We are about 90% automated & are continuously integrating more systems & features in our tech products. Major challenges in the industry from the supplier’s point of view are better communication, service, billing, and timely site-related tasks. Our automated engines can complete all these tasks efficiently & quickly (in seconds) which can take days to get done in the market currently. Since our team creates products as per the customers’ needs and simplifies the task(s) at hand, we are able to innovate and set new industry standards.
How do you assure that the company is ready to meet future challenges like changing demands and technology?
We are an evolving company, having in-house technical engineers and AI specialists who are continuously keeping eye on changing trends and new requirements. We are not just meeting the demands but also setting up roadmaps for the industry to follow with our early integrations and ability to plan ahead of time.
We also notice a massive shift from having mid-level skilled employees to more sophisticated, analytical, and technically skilled employees due to technological advancements. We are constantly training & conducting skill upgradation workshops for our employees in order to meet demands & bridge the gap.
How do you make your product fit the market?
Our products are designed keeping in mind one simple agenda – simplifying business processes for the business. We are constantly trying to provide bespoke solutions while maintaining agility & having a tech-forward approach. The fact that our team comprises professionals who have in-depth knowledge of the fields we enter & regular communication with the customers, helps us decipher the needs aptly.
What is your company’s strategy for marketing the product?
We supply energy through our brokers and have established a very intricate network for ourselves. Off late we are also exploring sponsorships & collaborations with business associations. We recently became the official utility supplier to England Rugby. The marketing strategy is to upsell & cross-sell through one platform becoming a one-stop shop across industries that believes in passing on their profits to the customers. So, the model is based on a very simple idea – ‘The more you buy, the more you save!’.
