Utility industry research firm Market Strategies has named the 2018 fifteen most trusted utility brands by business customers.
The utilities include:
Alabama Power DTE Energy BGE Duke Energy
CenterPoint Energy Georgia Power ComEd PSE&G
Kentucky Utilities Con Edison Consumers Energy
Puget Sound Energy Salt River Project Xcel Energy
The research firm conducted a survey of 35 questions among 8,903 business consumers served by 60 of the largest utilities in the US.
The findings of the survey include:
- Business customers want to work with utilities that they trust
- Strong brand relationship between the two drives consumers to view their service provider as a trusted partner resulting in them seeking advice on energy topics
- Business customers that have a strong relationship with their utility also show increased appreciation for their utility’s economic development activities and more frequently use its digital and consumption management offerings
Factors leading to falling brand trust relates to diminished business customer loyalty, advocacy and support for rate increases.
28% of businesses with low trust want to purchase energy from their utility, while 40% of those with high trust levels want to use their utility to purchase their energy.
Chris Oberle, a senior vice president at Market Strategies International, said: “A hallmark of top-performing utilities is they actively pursue trusted relationships with their business customers through economic development programmes, providing product recommendations during service interactions and building programmes that help customers succeed in business.
“Business customers are a main source of utility revenue and customers with low trust will look to third parties for energy advice and guidance.”