The research underscores the consumer preference for simple to understand bundling, such as how cable MSOs offer consumer packages that included telephony, broadband and cable in one bill. Research conducted by Energy Saving Trust revealed that energy bills are the least user-friendly to interpret and understand.

“As technology evolves and life becomes more hectic people are becoming less tolerant of numerous bills with individual charges and varying payment deadlines,” explains Meagher. “Utility providers need to offer a bill that combines all alerts and monitoring fees so all the consumer has to worry about is a one-off monthly bill.”

But the interest among consumers in being able to monitor real-time power usage in order to use electricity more efficiently is very high.

“Consumers want the best of both worlds,” says Meagher. They want “to protect their home and pinpoint cost savings, but without any additional hassle.” He adds that utility companies need to meet users’ growing demands while recognizing “the opportunities offered to them if they can extend smart metering into the home – higher retention levels, increased service offerings and ultimately, higher profit margins. It’s a win-win situation all round.”