In Switzerland, where utilities are not subject to energy savings obligations, their performance in improving their clients' energy efficiency (EE) differs strongly. We established four groups of utilities and analyzed their incentives and constraints for promoting EE. Their perceptions varied in many aspects, including the profitability of EE programs and the role of leadership. However, the majority favors collaboration and does not see the lack of an adequate policy framework as a constraint. We hypothesize about the underlying reasons and conclude that collaborations among utilities can help with knowledge sharing, EE program design, and common measurement and verification methods.