An increase in customer satisfaction and loyalty metrics of Texas retail electric providers (REPs) comes at an opportune time as one in four Texans is now actively shopping for a new electric provider. The average Texas REP Net Promoter Score (NPS) has improved significantly to 15.1 in Q2 2020 from 14.0 the previous quarter. Before Q2 2020, REP NPS (a measure of customer satisfaction) had been rapidly declining. These and other findings are from the 2020 Cogent Syndicated Texas REP Trusted Brand study from Escalent, a top human behavior and analytics firm.
|Texas REP Net Promoter Score Trending|
Source: Escalent. Cogent Syndicated. Texas REP Trusted Brand. August 2020.
“It’s clear from our research that many Texas REPs are being challenged with customer loyalty right now,” said Chris Oberle, senior vice president at Escalent. “Our analysis built a model that identifies critical brand qualities and market trends required for REPs to attract new customers and increase NPS. The good news is we found that REP responsiveness to customer needs during the COVID-19 pandemic has helped many REPs turn around a negative slide in loyalty.”
The study monitors and benchmarks NPS among all Texas REPs on a quarterly basis. Some of the findings regarding NPS performance are:
The following is REP Net Promoter Score performance rankings as well as scoring changes from year-end 2019.
|Texas Retail Electric Provider Net Promoter Scoring|
|American Light & Power||54.5|
|Champion Energy Services||33.5|
|Green Mountain Energy||24.6|
|First Choice Power||13.2|
|CPL Retail Energy||5.9|
|Largest Net Promoter Score Changes From Year-End 2019|
|Largest Increases||Largest Declines|
|Gexa Energy||2.0||Ambit Energy||-0.2|
|Cirro Energy||1.2||Our Energy||-0.2|
|TXU Energy||1.0||Tara Energy||-0.2|
|Infinite Energy||0.8||YEP Energy||-0.2|
|Champion Energy Services||0.6||Ameripower||-0.2|
|First Choice Power||0.6||Alliance Power||-0.2|
|Xoom Energy||0.5||CPL Retail Energy||-0.5|
|NEC Retail||0.4||Discount Power||-0.5|
|Green Mountain Energy||0.4||Brilliant Energy||-0.6|
|Spark Energy||0.4||Direct Energy||-0.7|
|4Change Energy||0.3||TriEagle Energy||-0.7|
|American Light & Power||0.3||Summer Energy||-0.9|
|Beyond Power||0.3||Bounce Energy||-1.0|
|Veteran Energy||0.2||Just Energy||-2.3|
Cogent Syndicated measures Customer Engagement and Brand Trust among customers of Texas retail electric providers by surveying 5,146 customers across providers based upon data-driven models. The study measures key performance indicators (KPIs) to provide management perspectives on how to improve REP brand positioning, sales and promotion, customer trust, effective messaging, product sales, customer experiences, service quality, customer acquisition and loyalty. Escalent’s Brand Trust Index comprises nine factors: community support, customer focus, communications effectiveness, environmental dedication, local reputation, reliable quality, competitive rates, enhanced offerings, and billing and customer service. The study collects a demographically representative sample across all Texas service territories open for retail electric competition. Escalent will supply the exact wording of any survey question upon request.
For more information on the full study, click below.