Market Overview

Cogent Reports: Texas Retail Electric Providers Post Historic Levels of Customer Trust

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Nine Texas Retail Electric Providers Are Most Trusted by Their
Customers

Texas retail electric providers (REPs) are hitting a home run when it
comes to brand trust. Market Strategies announces nine Texas REPs as
Most Trusted Utility Brands for 2018. The level of trust among these
Texas REPs is unprecedented, and they are reaping the reward with a
highly loyal customer base. These and other findings can be found in the
2018 Texas Retail Electric Provider Trusted Brand Study™, a Cogent
Reports™ study by Market
Strategies International-Morpace
.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180726005066/en/

As Brand Trust Grows, So Does Customer Loyalty and Growth Potential (Graphic: Business Wire)

As Brand Trust Grows, So Does Customer Loyalty and Growth Potential (Graphic: Business Wire)

A significant highlight from the findings is that Texas REPs have
developed customer trust to the highest level ever recorded by the
study, and the level of loyalty has grown as well. More good news for
brands in this category, their customers are very happy and 93% are
willing to recommend the brands to friends and family. Brand Trust
scoring is based on Texas REP customer responses to questions that
include brand health, service quality and value. The overall Texas REP
Brand Trust score increased 17 points from last year, to 735 (on a
1,000-point scale).

"Cultivating trust is one of the most important elements of creating a
loyal consumer base that is willing to advocate on your behalf. Trusted
brands follow through on their promises to provide high-quality service
at competitive prices, offer value-added services, and consistent
outreach to the customers and communities they serve," said Chris
Oberle, senior vice president, Market Strategies International-Morpace.
"On the other hand, our research shows that REPs with lower brand trust
will be financially challenged, as they attract rate-shopping customers
who are likely to leave them if they don't continue to offer the lowest
rates."

Customer trust also has a direct impact on financial performance, as 76%
of Texas REP consumers with low brand trust use "lowest rates" as their
main reason for choosing a new provider. Meanwhile, those with high
brand trust with their provider are less likely to switch providers for
lower bill amounts.

Below are the 2018 Texas Retail Electric Provider Brand Trust
performances by customer trust level and REP size segment. Market
Strategies International-Morpace would like to congratulate this year's
nine Most Trusted Brands among Texas REPs!

 
2018 Texas Retail Electric Provider Brand Trust Performances
       

Texas REP
Segments

        Most Trusted
Brands
Trusted
Brands
Other
Brands

Large Brands

(More than 1%
market share)

4Change Energy

 

Green Mountain
Energy

 

StarTex Power *

Ambit Energy

Cirro Energy

CPL Retail Energy

Direct Energy

First Choice Power

Just Energy

Reliant Energy

Stream Energy

TXU Energy

Champion Energy Services

 

Gexa Energy

               

Challenger
Brands

(0.83% to 1%
market share)

 

Amigo Energy

 

Bounce Energy*

Discount Power

TriEagle Energy

Alliance Power

Spark Energy

               

Niche Brands

(0.62% to 0.82%
market share)

America Light &
Power*

 

Infinite Energy

 

NEC Retail

 

WTU Energy

Entrust Energy Frontier Utilities
 

* Highest-scoring REP in segment
Most Trusted Brand =
Top quartile of market on Brand Trust index score or within 20 points of
the top scorer in ranking segment
Trusted Brand = 715 Brand Trust
index score to Most Trusted Brand cutoff
Market share is based upon
study respondent share
Contact
us
for individual TX REP Brand Trust scoring

About the Texas Retail Electric Provider Brand Trust Study

The study measures Brand Trust among 88% of the Texas retail electric
provider customers by surveying 5,571 customers across 53 providers
based upon a data-driven brand trust model. The Brand Trust model
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. Market Strategies-Morpace will supply the
exact wording of any survey question upon request.

About Market Strategies International-Morpace

Leading market research firms Market
Strategies International
and Morpace
bring clients closer to their customers through exceptional insights.
The firms specialize in brand, customer experience, product development
and segmentation research, and are known for blending primary research
with data from syndicated, benchmarking and self-funded studies to help
clients succeed. They have earned the trust of many of the world's top
brands across the automotive, consumer & retail, energy, financial
services, health, technology and telecommunications industries. Market
Strategies and Morpace are combining into one firm, as part of an
acquisition of both firms by STG, and will be rebranded under a new name
to be announced later in 2018. With more than 450 research
professionals, the collective firm is now the 15th largest market
research firm in the US and top 25 globally.

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