J.D. Power and Associates Reports: Overall Satisfaction Among Business Customers of Retail Electric Providers in Texas Increases Notably Due to Improvements in Price and Customer Service

WESTLAKE VILLAGE, Calif., Dec. 1, 2010 /PRNewswire/ -- Lower perceived electricity prices and vastly improved customer service have led to a considerable increase in business customer satisfaction with retail electricity providers in Texas, according to the J.D. Power and Associates 2010 Texas Business Retail Electric Provider Customer Satisfaction Study(SM) released today.

(Logo: http://photos.prnewswire.com/prnh/20050527/LAF028LOGO-a)

The study, now in its second year, measures business customer satisfaction with retail electric providers in Texas by examining four key factors (listed in order of importance): price; billing and payment; communications; and customer service.

Overall satisfaction among business customers of electric retailers in Texas in 2010 averages 629 on a 1,000-point scale--an improvement of 17 points from 2009. Driving the overall improvement are increased satisfaction with price and customer service, which both improve by 23 points from 2009.

Satisfaction with price has improved primarily due to lower customer-reported prices per kilowatt-hour, which have declined by 15 percent in 2010, compared with 2009.

Customer service satisfaction has been bolstered by notable improvements in electric retailer websites. Compared with 2009, satisfaction with customer service provided by the retailer website has increased in numerous areas in 2010, including the clarity of information provided; ease of navigation; timeliness of resolving problems; and helpfulness of e-mail or Web chat responses. Approximately 40 percent of business customers indicate they read their monthly account statement online, and 24 percent say they prefer interacting with their electric retailer through the website compared with any other contact channel.

"As usage of electric retailer websites continues to increase among business customers, the importance of the online contact channel will also grow," said Chris Oberle, senior director of the energy and utility practice at J.D. Power and Associates. "Efforts to enhance the convenience and usefulness of websites may become an important differentiator for brands."

GEXA Energy Corporation achieves a score of 681 and performs particularly well in three of the four factors: pricing; billing and payment; and customer service. Following in the rankings are Stream Energy (676) and Direct Energy (631).

Study findings include the following key trends:

• More than one-half of business customers indicate their current contract with their electric retailer will expire within the next 12 months.
• Approximately one in five businesses with contracts expiring during the next 12 months say they are likely to switch providers.
• Nearly one in five business customers say they have a direct contact at their retailer for service. Overall customer satisfaction increases to an average of 689--60 points higher than the industry average--when a business is provided with a direct contact.
• In 2010, there has been a 60 percent increase in retailer-initiated contacts (calls, visits and e-mails), compared with 2009.

The 2010 Texas Business Retail Electric Provider Customer Satisfaction Study is based on responses from 2,227 business customers of electric retailers in Texas. The study was fielded between May and June and September and October 2010.

For more information, view Texas business electric retailer ratings at JDPower.com.

About J.D. Power and Associates

Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction.  The company's quality and satisfaction measurements are based on responses from millions of consumers annually.  For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a global information and education company providing knowledge, insights and analysis in the financial, education and business information sectors through leading brands including Standard & Poor's, McGraw-Hill Education, Platts, and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2009 were $5.95 billion. Additional information is available at http://www.mcgraw-hill.com/.  

No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. www.jdpower.com/corporate

SOURCE J.D. Power and Associates

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED