PRESS RELEASE FROM COPPER LABS
BOULDER, Colo. — Copper Labs, a utility technology and solutions provider that supports electric, gas, and water utilities with high-resolution meter data and real-time insights, announced a billing alerts expansion to its platform and mobile app. By combining hyper-granular usage data with AI-driven algorithms and localized weather data, Copper’s innovative platform can forecast a utility customer’s energy or water usage and share alerts mid-month if they are on track to have a particularly high bill. That advanced notice can give consumers time to adjust their consumption before it’s too late, and can provide utilities with a unique opportunity to engage their customers around energy efficiency offerings when they’re likely to be most receptive.
This announcement comes at a critical moment when utility billing transparency and customer support is more important than ever. According to the latest data from the U.S. Energy Information Administration, roughly 27% of all U.S. households—34 million families—have had difficulty paying energy bills or have had to keep their homes at an unsafe temperature because of energy cost concerns. At the same time, a range of factors, from increasingly extreme weather and natural disasters to geopolitical conflicts and evolving energy policies, are leading to significant energy rate increases. In fact, rate increase requests by energy utilities in the US hit an all-time record high in 2022, even as consumers struggled with the wider effects of inflation.
“An unexpectedly high bill can lead to frustration or even difficult decisions about how to prioritize a limited budget,” said Dan Forman, CEO of Copper Labs. “Utilities recognize the problem and are looking for new ways to support their customers, but they often lack the data and tools needed to do so effectively. Copper can help by collecting and sharing data on energy and water use in near real-time, and providing actionable insights that help customers make effective decisions in the moments that matter most.”
Copper Labs’ patented hardware is uniquely able to remotely collect near real-time data from existing energy and water meters without hardware retrofits and at a fraction of the time and expense of new smart meter deployments. In addition to its hardware, Copper also offers sophisticated software platforms to help utilities and their customers effectively use that data to better manage consumption, increase transparency and prevent system overload. Its mobile app empowers utility customers with personalized insights and alerts and can provide timely information on carbon emissions, relevant utility rebate programs and optimal times for energy or water usage. Utilities can access the high-resolution data from a web portal and send targeted messages to customers, enabling new real-time demand management capabilities and a more personalized customer experience.
Copper Labs’ patented technology remotely collects near-real-time data from existing utility meters without extensive infrastructure overhauls and at a fraction of the time and expense of smart meter deployments. With the high-resolution meter data Copper unlocks, we empower electric, gas, and water utilities to better support an informed transition to a low-carbon economy, increase resilience in the face of a changing climate, improve equity, manage demand and deliver an excellent customer experience. Visit CopperLabs.com for more information.