Speaking to more than 400 industry insiders at the 26th annual Retail Energy Executive Forum™, TXU Energy’s Chief Operating Officer Scott Hudson told the crowd that establishing an emotional connection with – and delivering added value to – customers is essential to the company’s success.
“When the Texas market first opened in 2002, the approach to retail electric service was very transactional and driven by price,” Hudson said at the event in Charleston, S.C. “Today, we look to create an emotional connection with our customers through products and services that empower them and help them save money.”
Advanced metering systems helped transform the market and enabled TXU Energy to launch TXU Energy Free Nights® in 2012. By leveraging the 15-minute interval data, the company helped bring the benefits of advanced meter data and time-of-use plans to life.
“We created an emotional connection with consumers by giving them the ability to sleep cool and comfortably at night for free,” Hudson said.
More than 100,000 customers have signed up.
“Fast forward to 2015 and the launch of TXU Energy Free Mornings and EveningsSM,” Hudson said. “When we asked our customers for feedback on Free Nights, they told us they wanted free electricity during the busiest times of the day – when their families are getting ready for the day ahead and when homework, dinner and other family activities are in high gear.”
Texas is the most robust and competitive market for retail electricity in the U.S. Nearly 80 percent of the state’s 6 million-plus households are open to competition and nearly all of those meters have been replaced with an AMS infrastructure.
“Retail competition is at the beginning of something big,” Hudson said. “It’s an exciting time with emerging technologies and new products and services. However, we are most focused on how our customers experience this transformation. In the end, it’s about delivering on what we promised.”
DNV GL presented the three-day forum.