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The global shift from gas-powered cars to electric vehicles (EVs) is driving exponential growth in the EV charging market. This growth is fueled by new EV models, government incentives, and efforts to reduce fossil fuel dependence. Utility companies have a unique opportunity to become integral players and capitalise on revenue opportunities.

However, utility companies face the challenge of integrating the EV charger ecosystem into the electric grid, hindering mass EV adoption. As the world moves closer to an electrified future, utilities can play a crucial role in bridging the gap between EV charging station deployment and widespread adoption.
In this blog post, we will explore why utility companies should enter the EV charging market and how they can do so effectively with Monta's assistance.

Electricity consumption is on the rise

Eurostat claims that countries within the European Union generated 2’664 TWh of electricity in 2020. According to a Deloitte report, with consumption in Europe expected to grow by 1.8% annually until 2030, the transport sector is set to drive 11% of this increase due to rising electric car adoption.

The electricity consumption linked to the transport sector is forecasted to jump from 59 TWh in 2017 to 200-260 TWh in 2030, creating a new market of around 140-200 TWh waiting to be served. Considering an average price of 0.25€ per kWh (Eurostat), this market development translates to a potential €35.35 to €50.5 billion in new revenue for European utility companies.

The race to electrify: Keep up with the EV revolution

Utility companies need to enter the market quickly and establish a strong presence while the market is still growing. However, with intense competition and rapid technological advancements, staying ahead of the curve can be challenging.

Additionally, regulatory, infrastructure, and logistical barriers can make it difficult to provide a seamless and reliable charging experience for customers.

To succeed, a proactive approach by investing early and building a network of partnerships with other industry players is needed. It is crucial to have a comprehensive understanding of client needs and expectations and to have a clear, adaptable strategy to remain relevant in this constantly evolving market.

Winning the EV race: Why utility companies need to act fast and stay agile

The electric vehicle (EV) revolution is already underway, and as a utility company, it's important to act quickly and effectively in offering EV-related products and services to avoid losing market share to your competitors.

For example, if your competitor offers an attractive bundle of EV charging and electricity services that your customers find irresistible, they may switch providers, resulting in high churn rates and missed revenue opportunities for your business.

By being proactive and investing in EV-related products and services, you can secure your position in the market and stay ahead of the competition, providing your customers with the best experience possible.

Adapt or be left behind

Utility companies face a crucial decision - either adapt to the growing EV charging market or risk losing out to competitors. By being proactive, you can not only save costs but also generate new streams of revenue by catering to the needs of EV users. However, two significant challenges must be addressed:

  • Managing the load increase on the grid infrastructure;
  • Finding an all-in-one solution for different charging needs.

Challenge #1: The grid

As EV adoption increases, utility companies face the challenge of managing the growing demand for electricity and the strain it puts on their electrical networks. When EVs reach 50% of vehicles on the road, it can cause issues during peak energy usage. To ensure a stable power supply for all, effective strategies are necessary to manage the impact of EVs on the grid. Fortunately, solutions exist to balance the electrical grid and provide reliable access to electricity for everyone.

Boost profits with intelligent pricing management

Utility companies can attract more EV drivers and maximise revenue opportunities by offering flexible pricing options. This means setting different prices based on factors like the time of day, amount of energy used (kWh), or duration of the charge, to meet the unique charging needs of different user segments.

For instance, offering lower rates during off-peak hours or discounts for longer charging sessions could be an incentive for EV drivers to choose your charging services. These flexible pricing options can also help mitigate the risk of overloading the grid by encouraging EV drivers to charge their vehicles during off-peak hours when demand for electricity is lower.

Maximise power efficiency with Load Balancing

Effective energy management is crucial for maximising the potential of limited power availability in buildings and locations. Load balancing is a smart tool for power consumption and distribution that plays a vital role in ensuring optimal distribution of power and avoiding the risk of overloading, even during peak demand.

With the rapid growth of electric vehicles, load balancing has become even more critical to maintaining stability in the electricity grid and individual electrical installations. By implementing load balancing, you can maximise your electrical installation's potential without sacrificing performance or incurring additional costs. Load balancing also ensures scalability for future load requirements, such as adding new charge points.

Challenge #2: Serving the needs of all your different customers

To effectively meet diverse needs, utility companies must implement an all-in-one charge point management software. This simplifies complex access and pricing systems for homes, workplaces, public spaces, and heavy vehicles.

By choosing a reliable software partner, companies streamline operations, maintenance, and customer support while gaining real-time insights. Additionally, user-friendly software, compatible with different charging stations and supported by excellent customer service, ensures efficient management, reduced costs, and optimised station performance.

All-in-one solution for diverse charging needs

Revolutionise your business operations

Monta's platform is a game-changer for businesses looking to streamline their operations and reduce operating costs. The platform offers an all-in-one solution that includes an integrated accounting, invoicing, and payment system, providing complete control over pricing, access, and utilisation. With features like a wallet system, pricing engine, member fees, and subscriptions, all the heavy lifting is taken care of, freeing up your time and resources.

Effortlessly manage RFID charging cards with Monta's user-friendly app

Monta also puts emphasis on delegating tasks to users where possible and beneficial. For example, activating, blocking, and deleting RFID charging cards can simply be done from the app, saving utilities around 5-10€ per card tagged and sent to customers, plus support effort around lost or stolen cards.

Enhance the user experience with RFID tagging system and Bulk Upload Feature

One of the most impressive features of Monta's platform is the user-led RFID tagging system, which allows for quick and easy identification of charging points and users. This feature provides a seamless user experience, enhancing customer satisfaction and loyalty. Moreover, the platform's bulk upload feature simplifies the process of adding multiple charge points, saving you time and effort.

Find reliable installers and optimise resource allocation with Monta's consolidated platform

Monta's platform also includes a public page for installer jobs, offering a convenient way to connect with installers and contractors to help you get access to one of the scarcest resources required for rolling out charging infrastructure. By consolidating all your needs in one place, Monta's platform ensures that your operations are efficient and cost-effective, giving you a competitive edge in the market.

Embrace the EV revolution with Monta

Since 2020, Monta has been dedicated to making EV charging the best experience possible for the entire EV ecosystem, including EV drivers, charging businesses, and utility companies.
Our goal is to support the transition towards a more sustainable future by helping EV drivers and businesses go and stay electric. To achieve this, we offer the most reliable EV charging app and the most advanced charge point management platform on the market.

Unlock the power of Monta's All-in-one software solution

By empowering the pioneers in the EV industry, we aim to expand the EV charging infrastructure and enable everyone to EV better.

Monta's platform has already earned praise from Danish utility leaders like SEF A/S and NRGi for its flexibility and ability to meet customers' unique needs. With our expertise and technology, utility clients can leverage our all-in-one software solution to streamline operations, reduce costs, and benefit from smart pricing and load-balancing systems for greater flexibility and adaptability.

Don't miss out on establishing yourself as an industry frontrunner in the booming EV charging market. Join forces with Monta and stay ahead of the curve.