Do Energy Consumers Respond To Behavioral Nudges?

Nowadays, people can choose suppliers of goods and gain profit from daily transactions. For these purposes, people started to choose between energy suppliers, minimizing the costs of monthly utility bills. European governments and institutions created instruments to track the price of goods (gas, energy, water, etc.) which helped customers change suppliers. With new trends of free change of supplier, customers become the new pushpower for middle-sized and small-sized companies, as they can choose the much lower prices, which small companies can offer, but with a bit higher risks. It makes it possible to contribute to big monopolists on the market, which also occurred in 2016 in Ukraine. After the reformation of the marketplace of natural gas supply, all firms were able to take customers and offer them a lower price than the previous monopolist of customers and gas delivery – “Oblgaz.” It pushed the development in the sphere and enabled a lot of infrastructural and technological instruments inside the industry. It helped people realize they can choose the supplier to decrease monthly payments, which is not as tricky as they imagined.