Wattn is a Norwegian energy company providing smart and sustainable electricity solutions to customers across Norway.
Norwegian electricity retailers face a series of challenges in an increasingly competitive energy market. With the rise of renewable energy sources, decentralized energy production, and evolving consumer expectations, retailers seek to differentiate themselves while ensuring sustainable growth.
Wattn defined the following core objectives
- Increase customer loyalty by delivering smart energy services that provide added value
- Offer innovative solutions without requiring extensive in-house development resources
- Establish technical and commercial partnerships that ensure future-proof flexibility in handling volatility in the energy market
To achieve these goals, Wattn decided to partner with Onics (former Datek Smart Home), a cutting-edge provider of smart energy solutions. Through this collaboration, Wattn was able to leverage Onics’ suite of technologies, including the Eva App, a comprehensive cloud platform, and a complete hardware kit for home energy management. This case study explores the impact of these solutions on Wattn’s business strategy and customer experience.
Challenges and market dynamics
Before engaging with Onics, Wattn faced several pressing challenges
- Customer Retention and Loyalty
The energy sector has high customer churn due to price-driven switching behaviours. Wattn needed to provide added value to retain customers and enhance their lifetime value.
- Limited In-House Development Resources
Developing and deploying innovative digital solutions required significant investment in technology and expertise. Wattn had key personnel with deep technical competence, and they quickly identified Onics as a solid partner with complementary capabilities and scalable capacity to deliver what they needed on strategic and operational levels.
- Futureproofing for Market Volatility
The rise of electrification (due to higher numbers of EVs, EV chargers, heat pumps, etc.), along with interconnected energy markets and increase in intermittent renewable energy production, has led to higher volatility in supply and demand of energy. This has resulted in a need to utilize distributed energy resources (DERs) in new ways, requiring new services, business models, and technological capabilities.