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2024 Consumer Energy Report

According to a new TransUnion survey of household energy consumption and fraud and the results are of concern to utility providers. A concerning number of consumers said they’d been delinquent in payments or victimized by fraud. Findings included:

Delinquencies 

  • 16% of household reported they’d been 90 days or more past due on a utility bill in the last year
  • 14% were homeowners and 25% were renters among consumers with an average credit score

Fraud

  • 13% of consumers said they were targeted but didn’t fall victim to a utility related fraud attempt
  • 4% of respondents said they were both targeted and victimized
  • A quarter Gen Zs were targeted by fraud attempts but did not fall victim, compared to 15% of Millennials, 14% of Gen X and 7% of Baby Boomers

Billing increases

  • Among those households that missed payments, 72% said their bills had increased a little (43%) or a lot (29%) over the past year

Understanding the risk profile of consumers can be an important tool for flagging signs of financial distress. Find out more about how to proactively reach out to customers to prevent missed payments and potential service interruptions. 

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