Keeping pace with changes in billing and payment in the utility industry

Rebecca Harris, Research Analyst –

Utility companies have been around for more than 100 years. Many things have changed in the past century—refrigerators are in every home, thermostats and meters can talk to the utility, and homeowners are more empowered to create their own electricity.

PSEG LI Pay by Text

PSEG Long Island offers pay by text, including an emoji option. Source: PSEG Long Island

Billing and payment have always been important components to utility companies, but even these tasks have transformed. The electronic age gave rise to new forms of billing and payment channels: websites, mobile browsers, apps and texting. PSEG Long Island notably now even offers payment through emoji. J.D. Power’s latest Electric Utility Residential Customer Satisfaction study showed that “electronic bill-pay is increasing” year-over-year, as are paperless communications and mobile use.

The move toward online and mobile channels highlights the importance of making billing and payment easy and convenient. According to data from Chartwell’s 2016 Consumer Survey, easy billing and payment are major drivers of customer satisfaction (link available to Billing and Payment Leadership Council members only).

At Chartwell, we’re excited to share how utilities are accomplishing easy billing and payment. That’s why we’ve released our Billing Survey and Payment Survey. These surveys will uncover enrollment numbers for billing and payment programs, costs of paper and electronic bills, policies for non-payment and channel participation, among others. Secure your access to updated billing data and payment data by taking Chartwell’s Billing Survey and Payment Survey.

If your utility is interested in participating in Chartwell’s new Billing Survey and Payment Survey, please contact Zahra Dhanani at zdhanani@chartwellinc.com for more information.

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