Navigating Involuntary Prepayment Meter regulations:

In the face of stringent regulatory measures and changes to requirements, such as the new Involuntary Prepayment Meter (PPM) regulations, utility companies find themselves navigating a complex landscape fraught with challenges. One of the foremost difficulties lies in ensuring compliance while also maintaining a customer-centric approach to debt management. The mandate to move customers involuntarily to prepayment meters only as a last resort underscores the need for utility providers to tread carefully, balancing regulatory requirements with the welfare of their customers.

The process of identifying which customers are suitable candidates for involuntary PPM installations also presents a significant hurdle. Utility companies must conduct thorough assessments of each customer’s financial situation to determine affordability accurately. This task can be challenging and time consuming, especially considering the added difficulty of reaching customers who have fallen into arrears and may not be engaging with their provider. However, failing to conduct these assessments diligently can lead to potential regulatory breaches and, more critically, harm to vulnerable customers.

At Aryza, we understand the challenges the utility sector face and we’re confident that Aryza Recover can help utility providers navigate these challenges. Aryza Recover is an effective collections platform which allows the consumer to self-serve via a web-application that can be accessed anytime from anywhere. The platform offers consumers the options to manage their arrears with the ability to pay now, make a promise to pay within a specified timeframe, or set up a repayment plan – which is based on the in-built affordability assessment.

Aryza Recover empowers utility companies to gain comprehensive insights into their customers’ financial capabilities, so they can identify those who truly require involuntary PPM installations versus those who may benefit from alternative forbearance options. Aryza Recover offers a campaign-based collections strategy, with configurable rules for different cohorts of arrears, so utility providers can tailor forbearance options to align with each customer’s financial situation, promoting fair and sustainable repayment plans.

Our software ensures compliance with regulatory standards like the Involuntary PPM regulations, mitigating the risk of non-compliance penalties and safeguarding customer welfare.

In short, Aryza Recover offers utility providers a proactive and customer-centric debt management strategy. By empowering providers to understand their customers’ financial needs better, we pave the way for enhanced regulatory compliance, improved customer satisfaction, and ultimately, a stronger and more resilient utility sector.