Essense Partners released its annual Top 40 Utility PowerBrands ranking for U.S. investor-owned utilities. PowerBrands systematically evaluates more than 200 measures of utility brand strength, categorized along four dimensions: brand identity, corporate narrative, customer experience and employee experience.
The 2018 Winners
The top 10 utility PowerBrands of 2018 are:
- FPL
- Consumers Energy
- Gulf Power
- Green Mountain Power
- Georgia Power
- Commonwealth Edison
- Alabama Power
- PECO
- Duke Energy
- Portland General Electric
PowerBrands Movers and Shakers
Compared to last year, FPL jumped from ninth on the list to first place, and Portland General Electric made the biggest jump overall, going from 35th place in 2017 to 10th place this year.
This year’s rankings also welcomed eight electric utilities among the Top 40 PowerBrands: Med-Ed (No. 18), Minnesota Power (No. 21), Southern California Edison (No. 23), Great Plains Energy (No. 32), IPL (No. 36), West Penn Power (No. 37), Westar Energy (No. 39) and Alliant Energy (No. 40).
Methodology
The PowerBrands methodology uses a combination of quantitative and qualitative factors, with criteria that include over 200 measures.
Each utility’s PowerBrands Score is made up of four core brand value drivers that positively reinforce each other – brand identity, corporate narrative, customer experience and employee experience. Each brand driver is made up of multiple evaluation criteria that are weighted uniquely to fit the dynamics of the energy sector.
Together, these criteria result in a single PowerBrands Score for the utility.
Benefits of a High PowerBrands Score
In our experience, having a high PowerBrands Score is associated with several immediate benefits for utilities. First, a utility with a high PowerBrands Score can better withstand negative press and can soar higher on positive news stories. Second, the higher the PowerBrands Score, the easier it is for a utility to get customers to serve as community advocates, to have them sign up for utility programs and in general to have them be patient and loyal customers.
Longer‑term, a high PowerBrands Score means that your brand is more resilient and adaptable to change as utility business model shifts begin to happen. Because each of your brand drivers is working well to strategically reinforce what your brand stands for, any of the levers can be used to dynamically shift the brand’s connection with customers over time. Fundamentally, a true brand leader is able to inspire its audience base to follow it, and this is what a high PowerBrands Score enables.
For more on methodology and to view the full 2018 Top 40 Utility PowerBrands list, click here.