Shop, Switch, Repeat:
The Electricity Consumer Cycle - NEC Coop
Apr 17, 2018
Have you noticed it? The billboards look the same, the TV commercials sound the same, the same promotions are flowing into your mailbox. “Low rates! A $200 gift card to enroll! Free nights and weekends!” They’re all fighting to win you, the electricity consumer, and talk you into signing a 12-or 24-month contract.
If you’ve tried out a few different retail electricity providers (REPs), good. Why not? That’s what deregulation is all about. In fact, the consumer switching rate in Texas is high, with almost 44% of customers saying they have used more than one retail electric provider (REP) at their current residence, and one in five have used three or more*.
We switch, hopeful for the next best thing: a “lower rate”, or perhaps that bill credit enrollment that was too tempting to pass up. But when the ball drops and your bill shows up with a list of added fees, or your rate spikes, or you spend an hour on the phone with automated customer service, you’re back where you started.
So, what is it?
Why can’t these big, heavy-hitting electricity companies keep their customers? It’s not for lack of competitive rates, or creative gimmicks or even online account systems. No, it really comes down to one thing: trust. We, as consumers, need to trust that a company will always do the right thing. That’s what translates to a loyal customer.
Feeling a personal connection—whether it’s a familiar voice on the phone, customer service knowing you by name, knowing a company cares about doing what’s right for you. If a company can’t muster up that trust in a customer, the relationship will fail, no matter how big they are or how low their rate.
That’s why when you stumble upon a company or a brand that you love and trust, it’s exceptional. You certainly don’t see it every day—a customer talking about how much they truly love their electricity company. But when you find it, you won’t want to leave.Why choose NEC Co-op Like this article? You might be interested in: Electricity in 2018: Why Are We Still Confused?