The global power generation market was valued at USD 1.8 trillion in 2022 and is projected to reach around USD 3.9 trillion by 2032, with a CAGR of 8.04% during the forecast period from 2023 to 2032.
Methodology
The analysis is based on customer reviews and conversations online in the segment. The analysis results presented are completely unbiased and not based on any subjective judgment. The source data used for the analysis are user conversations available publicly online like public forums and social media.
Total number of customer conversations analyzed: 14,996
Executive Summary - Customer Experience Insights From the Electric Utility Industry
Over the years, there have been significant changes in electric utility consumption patterns, and customers have expressed evolving needs, concerns, and challenges. Issues such as bill payment problems, power outage concerns, unexpected higher charges, etc., have become common among customers. Electric utility service providers need to analyze customer experience insights to address these concerns and maximize growth potential.
With in-depth analysis of customer reviews, service providers can identify key pain points and areas for improvement. By acting on these insights and implementing targeted strategies, electric utility service providers can strengthen customer relationships and increase customer satisfaction.
Clootrack, a customer experience analytics platform, has generated insights after a comprehensive analysis of approximately 15,000 customer reviews from 25 electricity utility providers in the United States.
The findings outlined in this report aim to empower electric utility service providers with the necessary knowledge and insights to adapt to the evolving needs of their customers.
Top 2 Drivers of Customer Experience in the Electric Utility Industry
The mobile app's user-friendly interface and detailed energy usage report provided by companies have garnered more positivity among electric utility customers.
1. App Experience
The simple and user-friendly interface of apps allows customers to easily manage their needs at their fingertips, offering a convenient and hassle-free experience. A well-designed and intuitive app contributes to this positive experience. Personalization options and fast access to necessary information further simplify the process for customers, making it simple and easy to find what they need. Moreover, tracking usage and making payments directly through the app adds a layer of convenience for customers.
Customers say:
“user friendly, making it fast to pay bills or look up information regarding usage.”
“very easy to use and navigate. it's also very convenient, just like most things these days.”
“i am very happy with the user-friendly system, i am not that experienced with the computer, but i find this system to be very easy to navigate. keep up the good work.”
2. Energy Consumption Report
Energy usage reports offer transparency and control to customers, presenting clear and easy-to-understand information about their energy use and outages. Customers are also satisfied with providing information regarding estimated restoration time and a user-friendly interface for easy reporting and monitoring outages. With the ability to track usage daily or hourly, customers can monitor their energy consumption more effectively and make informed decisions about their usage. This level of transparency allows customers to identify areas of high energy consumption and adjust their usage to reduce it, ultimately leading to cost savings and improved energy efficiency.
Customer says:
“i am able to track my electric usage and able to view and pay my current bill.”
“it helps me with understanding my bill, outages and fun facts to saving energy.”
“easy to use and navigate. gives real-time updates on current status and outages.”
Top Customer Concerns in the Electric Utility Industry
Customers' top concerns are around bill payment, customer service, fees, and charges.
1. Bill Payment
Customer concerns about bill payment primarily revolve around payment processing, billing discrepancies, customer service, and payment options. Regarding payment processing, customers express concerns about delays, payments not being correctly recorded or acknowledged, and charges appearing on the bill even after providing proof of payment. Billing discrepancies are another concern, with customers experiencing discrepancies between budget billing and actual bills, unexpected bills, and inconsistent delivery of bills, causing frustration and inconvenience.
Customer service is a significant concern, with difficulties in reaching the support team, delays in resolving billing issues, and a lack of efficiency and response from customer service. Finally, payment options also worry customers, as they often face limitations in payment methods and the inability to make payments on the app without providing banking information or opting for auto bill pay.
Customers say:
“I am thoroughly disappointed with this company's service. billing is difficult to understand and payment option charges are ridiculous”
“having a difficult time changing my payment option. app is not being very "user friendly”
“i cant change my payment option to a card instead of having to put bank info in. very frustrating.”
2. Fees and Charges
Customers often raise concerns regarding the transparency, fairness, and necessity of fees associated with their services. The lack of clarity in charges often leads to customer confusion and frustration. They express confusion about being billed for services they have not received and being charged again for balances already paid.
Customers say:
“wrongfully charging people money. after a month, the bill came out an enormously greater than the regular monthly bills.”
“charging me three times the amount of what it would have cost to pay for just the gas and electric over the winter by adding a service charge as a surcharge for delivery of the product I was already paying towards. How is this legal or even close to practical or ethical?”
Rising Customer Need: Meter Functionality
Meter functionality is crucial for customers, directly impacting their energy usage measurements and billing. If the meter is not functioning correctly, it may lead to incorrect measurements and inaccurate billing. This can have significant financial implications for customers, as they may pay more than their energy usage.
Customers say:
“i have been dealing with a faulty meter for over 75 days with no results in resolving issues related over billing”
“i started reading my meter to find out the reading that i was getting bill for were incorrect.”
“also disgruntled as they can sneakily install a smart meter on private property without my knowledge or consent beforehand.”
Detailed Report
You can access the detailed report here.
Source: Clootrack
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