TXU Energy Message to Regulated Utility Executives: Competition Puts Focus on Customers, Customer Services to Achieve Success
Texas electricity company invited to Next Generation Utilities Summit in California to share its experience transitioning from a fully regulated market to open competition
TXU Energy’s message is simple: There is a fundamental difference in the mindset of a company when value is created based on customer choice.
Organizers of the Next Generation Utilities Summit in Newport Beach, Calif., invited TXU Energy to share with executives of noncompetitive power companies how the retail electricity provider created and benefits from a customer-centric approach to business.
“The entire summit revolves around the difference between a customer and a ratepayer,” said Don Smith, vice president of customer operations for TXU Energy. “TXU Energy has spent the past decade and millions of dollars developing service plans and customer services that meet our business and residential customers’ needs and exceed their expectations. In this hyper-competitive market, we want consumers to choose us because we deliver the best service, offer the best electric service plans and innovate constantly to make TXU Energy their best option.”
Smith, who worked for more than 20 years in a fully regulated market, said even regulated utilities can benefit from a mindset that focuses more on customers.
“These companies would not only be better-positioned for any future competition, but they would also minimize consumers’ complaints to regulators, reducing costs and increasing returns,” Smith said.
Among other things, Smith urged utility company leaders to:
- Get basic service right
- Redefine the relationship with the customer
- Re-think customer segments
- Try to establish a competitive culture in the regulated environment
- Expand analytics capabilities to better understand what is happening to customers
- Focus on the company brand to continuously create positive connotations
About TXU Energy
TXU Energy is a market-leading competitive retail electricity provider, powering the lives of more Texans than any other retailer. TXU Energy offers a variety of innovative products and solutions, allowing both its residential and business customers to choose options that best meet their needs, including exceptional customer service, competitively priced electricity service plans, innovative energy efficiency options, renewable energy programs and other electricity-related products and services. Visit txu.com for more information about TXU Energy. REP #10004.