15 Utilities Named Most Trusted Utility Business Partners
New research shows that business customers want to work with utilities
that they trust. When businesses have a strong brand relationship with
their utility, they then view it as a trusted partner and seek its
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. These findings are
from the 2018
Utility Trusted Brand & Customer Engagement™: Business Cogent Reports™
study by Market Strategies International.
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(Graphic: Business Wire)
High Brand Trust Enables Stronger Utility Influence with Business
Customers
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Low
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Moderate
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High
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Utility business partner qualities
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Brand Trust
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Brand Trust
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Brand Trust
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Has programs that help the local economy
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7%
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19%
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30%
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Trust to keep account information secure
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13%
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29%
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39%
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A partner in aiding the success of our business
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4%
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15%
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26%
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A trusted advisor on energy topics
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4%
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17%
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29%
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Combined partner qualities
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22%
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53%
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69%
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Conversely, falling Brand Trust relates to diminished business customer
loyalty, advocacy and support for rate increases. In fact, only 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.
“A hallmark of top-performing utilities is they actively pursue trusted
relationships with their business customers through economic development
programs, providing product recommendations during service interactions
and building programs that help customers succeed in business,” said
Chris Oberle, a senior vice president at Market Strategies
International. “Business customers are a main source of utility revenue,
and customers with low trust will look to third parties for energy
advice and guidance.”
Market Strategies congratulates 15 Most Trusted Utility Brands among
business customers this year. The Brand Trust index is based upon 35
questions that relate to a suite of emotional attachment and management
performance factors. The study also provides market demand profiles for
over 60 value-added business customer offerings.
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East Region
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Brand Trust
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Utility Brand Name
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index
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BGE
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795
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Con Edison
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786
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PSE&G
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783
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PPL Electric Utilities
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748
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PECO Energy
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738
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PSEG Long Island
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725
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NYSEG
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707
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Penelec
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700
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Jersey Central Power & Light
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699
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National Grid
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697
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West Penn Power
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693
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Eversource Energy
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688
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Appalachian Power
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685
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Midwest Region
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Brand Trust
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Utility Brand Name
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index
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Consumers Energy
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751
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DTE Energy
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751
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ComEd
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744
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Duke Energy Midwest
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741
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MidAmerican Energy
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739
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KCP&L
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731
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Xcel Energy – Midwest
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731
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Wisconsin Public Service
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730
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Ohio Edison
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729
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CenterPoint Energy – Midwest
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728
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We Energies
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720
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AEP Ohio
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716
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Alliant Energy
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715
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Ameren Illinois
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704
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Ameren Missouri
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699
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NIPSCO
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686
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South Region
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Brand Trust
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Utility Brand Name
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index
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CenterPoint Energy – South
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770
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Georgia Power
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760
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Kentucky Utilities
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758
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Alabama Power
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752
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TECO Tampa Electric
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741
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Florida Power & Light
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737
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Dominion Energy Virginia
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736
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Entergy
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735
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Gulf Power
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720
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OG&E
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717
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Public Service Company of Oklahoma
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717
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Duke Energy Carolinas
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712
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Duke Energy Florida
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710
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Louisville Gas & Electric
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707
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Southwestern Electric Power Company
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701
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SCE&G
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697
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Duke Energy Progress
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694
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CPS Energy
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687
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West Region
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Brand Trust
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Utility Brand Name
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index
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Puget Sound Energy
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778
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Salt River Project
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769
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Southern California Edison
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738
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Rocky Mountain Power
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732
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Xcel Energy – West
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723
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Portland General Electric
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721
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NorthWestern Energy
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717
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SDG&E
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716
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Idaho Power
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709
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LADWP
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707
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PG&E
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702
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APS
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687
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NV Energy
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683
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Pacific Power
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678
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PNM
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659
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About Utility Trusted Brand & Customer Engagement: Business
Market Strategies conducted surveys among 8,903 business electric and
combination utility customers of the 60 largest US utility companies
(based on customer counts). Utilities are given equal weight to balance
the influence of each utility’s customers on survey results. Market
Strategies will supply the exact wording of any survey question upon
request.
About Market Strategies International
Market
Strategies International is a leading provider of research and
consulting services to utility management, trusted by the world’s most
successful organizations to help them thrive. We blend primary research
with data from our syndicated, benchmarking and self-funded studies to
provide clients with exceptional research insight that helps solve their
challenges. Our research specialties include brand, communications, CX,
product development and segmentation. Our syndicated products, known as
Cogent Reports, help clients understand the market environment, explore
industry trends and monitor their brand within the competitive
landscape. Founded in 1989, Market Strategies is one of the largest
market research firms in the world. Read Market Strategies’ blog at FreshMR,
and follow us on Facebook,
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and LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180702005035/en/
Copyright Business Wire 2018
Source: Business Wire
(July 2, 2018 - 8:00 AM EDT)
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