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John Tews
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Syvetril Perryman
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J.D. Power and Associates Reports:
Green Mountain Energy Company Ranks Highest in Customer Satisfaction with
Texas Residential Electric Retail Providers in Inaugural Study
Customers Subscribing to Green Power Pricing Plans Are More Satisfied,
Despite Paying Higher Prices
WESTLAKE VILLAGE, Calif.: 13 August 2008 — Among electric retail providers in Texas, Green Mountain Energy Company ranks highest in customer satisfaction, according to the J.D. Power and Associates 2008 Texas Residential Retail Electric Provider Customer Satisfaction StudySM released today.
The inaugural study measures customer satisfaction with retail electric providers in Texas by examining four key factors (listed in order of importance): pricing, billing and payment, communications and customer service. Starting in 2002, the Electric Reliability Council of Texas opened portions of the residential electric utility market in the state to retail competition. According to the Public Utility Commission of Texas, 42 percent of Texas residential customers were served by competitive retail electric providers by the end of 2007, totaling approximately 5.1 million households.
Green Mountain Energy Company achieves a score of 716 on a 1,000-point scale and performs particularly well in three of the four factors: billing and payment, communication and customer service. Stream Energy (687) and Reliant Energy Retail (659) follow Green Mountain Energy Company in the rankings. Stream Energy performs particularly well in the pricing factor.
“By providing superior levels of customer satisfaction, Green Mountain Energy Company has also achieved notably high levels of customer advocacy and loyalty,” said Jeff Conklin, senior director of the energy and utility practice at J.D. Power and Associates. “A high percentage of Green Mountain Energy Company customers say that they would definitely recommend their electric retailer to family and friends, and these customers also make many more positive recommendations about their provider, compared with customers of other electric retailers in Texas.”
The study finds that customers who select a “green” pricing plan—for which electricity is produced using renewable resources such as solar, wind or geothermal power—report paying more for electric service, on average, than do customers subscribing to other types of pricing plans. Customers subscribing to green power plans report paying an average of $202 per month, while customers on fixed price plans report spending $178 per month, on average. Customers with variable price plans report paying an average of $170 per month. However, green power customers are also more satisfied with their electric service, on average. Overall satisfaction for customers on green power plans averages 716, compared with satisfaction of fixed-price plan subscribers (674) and variable-price plan subscribers (606).
The study also includes the following key findings: - Nearly one-half (43%) of customers say they initially signed up with their retail electric provider more than four years ago.
- Approximately 35 percent of respondents report that they switched providers within the past 24 months.
- Respondents who have switched providers within the past 24 months are more satisfied (with satisfaction scores averaging 674) than customers who have remained with their provider for more than four years (609).
The 2008 Texas Residential Retail Electric Provider Customer Satisfaction Study is based on responses from more than 2,500 online interviews conducted in June 2008 among residential customers of electric retailers in Texas. For more information on Texas residential electric retailer ratings, please visit JDPower.com
About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services firm operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The firm’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on boat ratings, 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 leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor’s, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com/.
Media Relations Contacts:
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John Tews
J.D. Power and Associates
Director, Media Relations
5435 Corporate Drive, Suite 300
Troy
, MI
48098
USA
(248) 312-4119
john.tews@jdpa.com
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Syvetril Perryman
J.D. Power and Associates
Specialist, Media Relations
2625 Townsgate Road, Suite 100
Westlake Village
, CA
91361
USA
(805) 418-8103
syvetril.perryman@jdpa.com
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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 # # #
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What does J.D. Power and Associates do?J.D. Power and Associates' research, consulting, and performance improvement services are used by a variety of industries to improve product quality and customer satisfaction. The firm's research is based solely on responses from millions of consumers and business customers worldwide. Product and service rankings that result from this research reflect the opinions of consumers and business customers-not the opinion of J.D. Power and Associates. Rankings are derived from nationally syndicated studies that serve as industry benchmarks for measuring and tracking quality and customer satisfaction. J.D. Power and Associates conducts the research, publicly announces the results, and then offers analysis based on consumer feedback to product and service providers to help them improve their businesses.
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