EMACS 2006 - Improving Customer Satisfaction: Highlights of Utility Successes

This Energy Insights Perspective examines highlights of the EMACS 2006 conference, which focused on utility successes in improving customer satisfaction. Claes Fornell of the University of Michigan, who leads development and design of the American Customer Satisfaction Index (ACSI), set the tone with his presentation on the economic value of customer satisfaction. According to Fornell, across all industries, a 1% improvement in customer satisfaction is worth 4.6% in market value growth. And for the utility industry specifically, an individual utility's ACSI score directly correlates with its stock price. Several conference sessions focused on the strategies utilities are using to improve satisfaction. Highlights of these sessions include: