Brand Trust Is Higher for Utilities That Spend More on Communication and Highlight Savings and Environmental Programs for Customers
28 June 2024 - 12:00AM
Higher investments in communication and more frequent messaging on
preferred channels increase Americans’ trust in utility companies
even though customers face ongoing inflation-related economic
difficulties. The utility industry Brand Trust Index is down for
the third year in a row, declining eight points to 680 on a
0-to-1,000 scale. However, Brand Trust is 5% higher than the
industry average among utilities that have effectively communicated
savings opportunities, environmental programs, and utility value
drivers. Today, we name these 33 top utilities as the 2024 Most
Trusted Brands.
Those are some of the latest findings of the 2024 Cogent
Syndicated Utility Trusted Brand & Customer Engagement™:
Residential study, which tracks the performance of 142 gas,
electric and combination utilities to identify brand and customer
experience opportunities and trends in the industry. The report is
published semiannually by Escalent, a top data analytics and
advisory firm with extensive energy, utility and brand
experience.
The Communications Intensity Index, an indicator of per-customer
spending, for the Most Trusted Brands is also 10% higher than the
industry average. More importantly, customers of the Most Trusted
Brands find the communication more relevant, accurate and easy to
understand.
“The real advantage of the 2024 Most Trusted Brands is their
expertise in crafting messages that reinforce the value proposition
and strengthen customer awareness of satisfaction-driving benefits
such as reliability, ease of service interactions, energy-saving
programs, and the ways the utility supports a clean environment,”
said Suzanne Haggerty, director of syndicated research with the
Energy team at Escalent.
Although monthly utility bill manageability perceptions have
stabilized since mid-2023, they are still significantly lower than
in 2021. Additionally, while customers have decreasing perceptions
that utilities offer reasonable rates for the services they
provide, which continues to lower Brand Trust, customers also
report decreased perceptions that their utilities are ethical in
dealing with customers or that utilities consider customer concerns
in business decisions.
Conversely, the 2024 Most Trusted Brands continue to
significantly outperform the industry on all three of those
perceptions. They have 9% higher value scores and their customers
have significantly higher perceptions of their ethics and
willingness to consider customer concerns. Additionally, the Most
Trusted Brands more effectively use bills to help customers
identify savings opportunities, with 6% higher scores for the
perception that the bill provides information on ways to lower
consumption.
Historically, higher-scoring utilities have also developed and
promoted a portfolio of products and services focused on energy
management and savings, allowing them to serve as consultative
partners rather than simple service providers. Sometimes, their
portfolios aren’t significantly different from those of similar
companies, but their program communication is easier to understand
and highlights customer benefits. This year, the Most Trusted
Brands see 6% higher scores for the perception that their voluntary
offerings can help customers lower their costs.
“Many customers have become cynical about utility motives. The
significant bill increases related to fuel prices in 2022 took an
incredible toll on Brand Trust and many customers were left jaded.
However, the 2024 Most Trusted Brands have really invested in and
optimized their communication strategies to achieve several goals,”
added Haggerty. “They’re helping customers manage utility spending
and sharing a convincing utility value proposition, which helps
fight customer cynicism, leading to improved Brand Trust.”
Escalent is pleased to name these 33 utilities as our 2024 Most
Trusted Brands.
Cogent Syndicated 2024 Most Trusted Utility
Brands* |
Atmos Energy – Midwest |
Mississippi Power |
Avista |
Montana-Dakota Utilities |
Black Hills Energy – Midwest |
National Grid |
Cascade Natural Gas |
New Jersey Natural Gas |
CenterPoint Energy – Midwest |
Nicor Gas |
CenterPoint Energy – South |
NIPSCO |
Chattanooga Gas Company |
Philadelphia Gas Works |
Columbia Gas – South |
Piedmont Natural Gas |
Columbia Gas of Ohio |
PSE&G |
Con Edison |
Puget Sound Energy |
Dominion Energy South Carolina |
Salt River Project |
Florida City Gas Company |
Spire Mississippi |
Georgia Power |
TECO Peoples Gas |
Green Mountain Power |
Washington Gas |
Indiana Michigan Power |
Wisconsin Public Service |
Intermountain Gas Company |
Xcel Energy – Midwest |
Louisville Gas & Electric |
|
* Utilities named as Most Trusted Brands are selected based on
having Brand Trust Index scores in the top decile of the industry,
the top score within their respective benchmark segment, or a Brand
Trust Index score within 20 points of the top benchmark segment
score and above the industry average.
The following tables reflect regional peer benchmark Brand Trust
scores among the 142 utilities surveyed. These scores reflect the
level of trust customers have with each utility.
East Region Utilities Brand Trust Performance |
Utility brand name |
Service provided |
Brand Trust score |
PSE&G |
Combination |
708 |
Con Edison |
Combination |
701 |
National Grid |
Combination |
689 |
BGE |
Combination |
683 |
Delmarva Power |
Combination |
683 |
PECO |
Combination |
679 |
Eversource |
Combination |
653 |
Unitil |
Combination |
623 |
NYSEG |
Combination |
617 |
RG&E |
Combination |
591 |
Green Mountain Power |
Electric |
704 |
Duquesne Light Company |
Electric |
681 |
PPL Electric Utilities |
Electric |
681 |
Pepco |
Electric |
678 |
Penelec |
Electric |
666 |
Penn Power |
Electric |
666 |
West Penn Power |
Electric |
660 |
Potomac Edison |
Electric |
656 |
Met-Ed |
Electric |
655 |
Mon Power |
Electric |
649 |
PSEG Long Island |
Electric |
647 |
Atlantic City Electric |
Electric |
644 |
Jersey Central Power & Light |
Electric |
639 |
Appalachian Power |
Electric |
570 |
Central Maine Power |
Electric |
562 |
Washington Gas |
Natural Gas |
733 |
Philadelphia Gas Works |
Natural Gas |
725 |
New Jersey Natural Gas |
Natural Gas |
713 |
Elizabethtown Gas |
Natural Gas |
705 |
National Fuel Gas |
Natural Gas |
700 |
South Jersey Gas Company |
Natural Gas |
698 |
Columbia Gas – East |
Natural Gas |
691 |
Peoples |
Natural Gas |
691 |
UGI Utilities |
Natural Gas |
690 |
Midwest Region Utilities Brand Trust
Performance |
Utility brand name |
Service provided |
Brand Trust score |
Xcel Energy – Midwest |
Combination |
729 |
Montana-Dakota Utilities |
Combination |
725 |
NIPSCO |
Combination |
718 |
Wisconsin Public Service |
Combination |
715 |
Black Hills Energy – Midwest |
Combination |
711 |
Consumers Energy |
Combination |
701 |
Alliant Energy |
Combination |
695 |
MidAmerican Energy |
Combination |
694 |
Ameren Illinois |
Combination |
688 |
DTE Energy |
Combination |
681 |
Duke Energy Midwest |
Combination |
669 |
We Energies |
Combination |
666 |
CenterPoint Energy – Indiana |
Combination |
514 |
Indiana Michigan Power |
Electric |
720 |
Ameren Missouri |
Electric |
694 |
ComEd |
Electric |
679 |
Ohio Edison |
Electric |
674 |
OPPD |
Electric |
664 |
AEP Ohio |
Electric |
660 |
AES Indiana |
Electric |
658 |
The Illuminating Company |
Electric |
657 |
Toledo Edison |
Electric |
647 |
Evergy |
Electric |
627 |
AES Ohio |
Electric |
622 |
Columbia Gas of Ohio |
Natural Gas |
719 |
Atmos Energy – Midwest |
Natural Gas |
716 |
Nicor Gas |
Natural Gas |
705 |
CenterPoint Energy – Midwest |
Natural Gas |
704 |
Peoples Gas |
Natural Gas |
698 |
Spire Missouri – East |
Natural Gas |
688 |
Dominion Energy Ohio |
Natural Gas |
683 |
Citizens Energy |
Natural Gas |
680 |
Spire Missouri – West |
Natural Gas |
676 |
Kansas Gas Service |
Natural Gas |
673 |
South Region Utilities Brand Trust
Performance |
Utility brand name |
Service provided |
Brand Trust score |
Dominion Energy South Carolina |
Combination |
692 |
Louisville Gas & Electric |
Combination |
682 |
CPS Energy |
Combination |
661 |
MLGW |
Combination |
581 |
Mississippi Power |
Electric |
747 |
Georgia Power |
Electric |
731 |
OUC |
Electric |
725 |
Florida Power & Light |
Electric |
714 |
Alabama Power |
Electric |
703 |
Duke Energy Progress |
Electric |
696 |
TECO Tampa Electric |
Electric |
694 |
Dominion Energy Virginia |
Electric |
690 |
Duke Energy Florida |
Electric |
687 |
Entergy Mississippi |
Electric |
687 |
Southwestern Electric Power Company |
Electric |
686 |
Entergy Texas |
Electric |
681 |
JEA |
Electric |
678 |
Xcel Energy – South |
Electric |
675 |
Public Service Company of Oklahoma |
Electric |
674 |
Duke Energy Carolinas |
Electric |
673 |
Nashville Electric Service |
Electric |
671 |
Entergy Louisiana |
Electric |
666 |
Kentucky Utilities |
Electric |
665 |
Entergy Arkansas |
Electric |
659 |
OG&E |
Electric |
651 |
El Paso Electric |
Electric |
650 |
Austin Energy |
Electric |
630 |
Entergy New Orleans |
Electric |
629 |
Kentucky Power |
Electric |
586 |
FPL Northwest FL |
Electric |
583 |
Florida City Gas Company |
Natural Gas |
764 |
TECO Peoples Gas |
Natural Gas |
752 |
Piedmont Natural Gas |
Natural Gas |
746 |
Chattanooga Gas Company |
Natural Gas |
743 |
Columbia Gas – South |
Natural Gas |
741 |
Spire Mississippi |
Natural Gas |
737 |
CenterPoint Energy – South |
Natural Gas |
735 |
Atmos Energy – South |
Natural Gas |
721 |
Spire Gulf Coast |
Natural Gas |
714 |
Dominion Energy North Carolina |
Natural Gas |
711 |
Spire Alabama |
Natural Gas |
707 |
Virginia Natural Gas |
Natural Gas |
707 |
Texas Gas Service |
Natural Gas |
703 |
Oklahoma Natural Gas |
Natural Gas |
695 |
West Region Utilities Brand Trust Performance |
Utility brand name |
Service provided |
Brand Trust score |
Puget Sound Energy |
Combination |
692 |
Avista |
Combination |
684 |
Colorado Springs Utilities |
Combination |
680 |
NorthWestern Energy |
Combination |
680 |
Xcel Energy Colorado |
Combination |
674 |
Black Hills Energy – West |
Combination |
657 |
PG&E |
Combination |
577 |
SDG&E |
Combination |
511 |
Salt River Project |
Electric |
756 |
Seattle City Light |
Electric |
717 |
SMUD |
Electric |
714 |
Snohomish County PUD |
Electric |
708 |
Idaho Power |
Electric |
692 |
Tucson Electric Power |
Electric |
692 |
APS |
Electric |
691 |
Los Angeles Department of Water & Power |
Electric |
691 |
Rocky Mountain Power |
Electric |
685 |
Pacific Power |
Electric |
671 |
Southern California Edison |
Electric |
669 |
PNM |
Electric |
667 |
Portland General Electric |
Electric |
660 |
NV Energy |
Electric |
633 |
Cascade Natural Gas |
Natural Gas |
749 |
Intermountain Gas Company |
Natural Gas |
729 |
NW Natural |
Natural Gas |
712 |
New Mexico Gas Company |
Natural Gas |
709 |
SoCalGas |
Natural Gas |
702 |
Dominion Energy – West |
Natural Gas |
696 |
Southwest Gas |
Natural Gas |
684 |
About the Utility Trusted Brand & Customer
Engagement™: Residential study
Escalent conducted surveys among 61,432 residential electric,
natural gas and combination utility customers of the 142 largest US
utility companies (based on residential customer counts). The
sample design uses a combination of quotas and weighting based on
US census data to ensure a demographically balanced sample of each
evaluated utility’s customers based on age, gender, income, race
and ethnicity. Utilities within the same region and of the same
type (e.g., electric-only providers) are given equal weight to
balance the influence of each utility’s customers on survey
results. The Brand Trust index score is a composite based upon
consumer ratings across six factors. Escalent will supply the exact
wording of any survey question upon request.
For more information on the full report, click here.
About Escalent
Escalent is an award-winning data analytics and advisory firm
that helps clients understand human and market behaviors to
navigate disruption and business transformation. As catalysts of
progress for more than 40 years, our strategies guide the world’s
leading brands. We accelerate growth by creating a seamless flow
between primary, secondary, syndicated, and internal business data,
providing consulting and advisory services from insights through
implementation. Based on a profound understanding of what drives
human beings and markets, we identify actions that build brands,
enhance customer experiences, inspire product innovation and boost
business productivity. Visit escalent.co to see how we are helping
shape the brands that are reshaping the world.
Contact Stephanie
Salvadero, 734.838.5192stephanie.salvadero@escalent.co
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