Business Customer Satisfaction with Electric Utilities Deteriorates as Rates Rise

More than half (52%) of U.S. businesses say they are aware of electric utility rate increases this year, spurring a significant decline in overall customer satisfaction. According to the J.D. Power 2022 Electric Utility Business Customer Satisfaction Study,^SM released today, a combination of rising rates, inadequate communication and lack of visibility on corporate citizenship initiatives have caused overall satisfaction scores to decline 12 points (on a 1,000-point scale) year over year.

"Businesses are facing a tough economic environment right now as they confront the effects of inflation, talent scarcity and continued supply chain challenges," said Adrian Chung, director of utilities intelligence at J.D. Power. "Blanket increases in their electric utility bills—without clear corresponding communications and adequate support from their utility on how to manage these costs—are simply adding to an already difficult situation for many businesses. But rising rates do not necessarily have to result in lower customer satisfaction. In fact, the handful of electric utilities that are getting the business customer engagement formula right are able to maintain or even drive higher levels of satisfaction and affordability perceptions."

Click here to read the press release, including which utilities rank highest in customer satisfaction and additional key findings from the 2022 study.