Escalent
Escalent
Cogent Syndicated

Rate Increases in A Volatile Energy Market explores how a variety of communication channels and other brand activities can help shape brand perceptions as these external forces compound to impact utility customers. Determine why preemptive strategies to increase communication intensity can positively impact customer awareness and opinion in the face of continued rate increases.

Uncover how a protracted scenario of low consumer sentiment index and the possibility of other deteriorating economic metrics could shift clients’ focus toward “saving money” as their priority indicator and why customers are likely to adopt utility programs that promise savings.

Value

The report will enable subscribers to:

Understand Your Customers
Understand how customers perceive rate increases, bill amounts, and the value they receive from their utility

Measure Impact
Gain insight into customers’ responses to macroeconomic conditions, and how those responses impact their utility relationship

Improve Customer Relationships
Identify actions that your utility can take to maintain strong satisfaction and customer relationships in the face of these trends

Methodology

  • 70,000+ residential electric, combination, and natural gas customers
  • 140 electric, natural gas and combination utilities
  • Web-based survey
  • Sample design: US census data and strict quotas used to ensure a trustworthy and representative sample of each evaluated utility’s customers based on age, income and race

Areas of Inquiry

Economic Factors

  • Impact of inflation on customer financial condition
  • Difficulty in paying varying household expenses (energy, food, housing, etc.)
  • Impact of inflation on customer behavior, decision-making, and motivation to seek financial assistance

Customer Focus Factors

  • Utility providing reasonable rates for delivered service

Product Experience Factors

  • Ease of using different rate options
  • Rate options are performing as promised

Service Satisfaction Factors

  • Manageability of monthly bill
  • Information for lowering energy consumption provided within bill
  • Ability to pay bill using preferred payment method
  • Effort for paying bill is reasonable
  • Time required to pay bill is reasonable
  • Bill contains accurate and useful information
  • Bill is easy to understand

Rate Options & Experience

  • Rate selected by customers
  • Different rate selections customers would prefer (net metering, demand rate, load cycling, etc.)
  • Customers’ awareness of utilities’ different rate offering
  • Likelihood of switching rate program
  • Customers’ trust of utility setting fair and reasonable rates
  • Benefits customer would support with a 2%-10% rate increase

Subscription Details

Publication Date: July 2022
Deliverables:

  • Detailed report with analysis of data

Investment: Contact Us

Cogent Syndicated 2022 Rate Increases in a Volatile  Energy Market Factsheet
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