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Consumer Reaction to Rising Energy PricesPublished by: IDC Published: Nov. 7, 2006 - 20 Pages Table of ContentsTable of Contents Energy Insights Opinion In This Report Methodology Situation Overview Introduction Utility Efforts Survey Findings Customers' Experience with Bill Increases Figure: Consumers' Reported Change in Monthly Energy Bills in the Past 12 Months Figure: Consumers' Perceived Reason for Bill Increase Customers Attitudes and Satisfaction Regarding Price Figure: Consumer Satisfaction with the Price of Electricity, 2004 and 2006 Figure: Attitudes Toward Utility Prices Differences Among Customer Groups Reaction to Increasing Bills Figure: Information Received from Utility About Possible Bill Increases Figure: Information Provided by Utility Rated as Very Helpful Figure: Actions Taken in an Effort to Use Less Energy Figure: Reasons Customer Took Energy Efficiency Action Tools and Services to Help Manage Energy Figure: Awareness of Tools and Services Offered by Utilities to Help Customers Manage Their Energy Figure: Use of Utility-Offered Tools and Services Figure: Estimated Take Rate for Fixed Billing for Online Customers Analysis Future Outlook Essential Guidance Actions for Utilities Billing and Rates Energy Efficiency and Conservation Public Relations/Education Learn More Related Research Synopsis AbstractThis Energy Insights report discusses consumer reaction to rising energy prices, the impact of higher prices on customer satisfaction, and customer response to utility companies' efforts to help customers manage their increasing monthly bills. Consumers are feeling the pain of higher energy prices. Data from the 2006 Customer Insights Market Survey (CIMS) indicates that the majority of customers have experienced increases in their monthly energy bills in the last year and customer satisfaction with the price of electric service has dropped since 2004. According to Barb Ryan, senior analyst for Energy Insights, "High utility prices have captured the public's attention and this provides an opportunity for energy utilities. Now, when energy is at the forefront of customers' minds, utilities should focus on educating their customers about energy use and introduce innovative rates, billing programs, and energy efficiency programs to help customers gain more control over their energy bills." Get Full Details About This Report >> |
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