EnergyBiz - November/December 2007 - (Page 58)

To achieve true customer self-care, utilities will progress through the four phases of electronic payment solutions adoption, which include the following: • Development—Customers register RPs or enroll in online bill pay, resulting in a reduction in billing calls and inquiries to the customer service centers of utilities. • Introduction—Increased customer enrollment/registration results in a deflection of an even greater number of customer inquiries from the utility’s customer service call center to online self-care. • Growth—Increasing numbers of customer service inquiries are deflected from the call center, and payment processing costs and use of paper statements are reduced. • Maturity—Paper statements are eliminated; customer self-care is achieved. Utility companies wishing to implement payment card acceptance, RPs, or online payment programs should contact their financial institutions for more information and to inquire about industry-specific programs such as the MasterCard Utility Industry Program. Such programs offer special rates specifically for the utility industry, making it even more beneficial for utilities to accept payment cards and offer this payment option to customers. Utilities that receive regular payments from customers have become more receptive to new payment options that reduce costs, increase efficiencies, and generate positive returns on investment. Payment card acceptance, RPs, and online payment programs can help utilities accomplish all those goals, provide a differentiator in competitive markets, and deliver valuable benefits to customers. Benefits of Electronic Payment Acceptance …To Your Company Greater customer satisfaction Reduced mail float Improved days sales outstanding Enhanced e-Bill adoption …To Your Customers Additional payment choices Enhanced convenience and control— no checks to write or put in the mail Opportunity to earn rewards in eligible loyalty programs for customers with rewards cards *The 2005/2006 Study of Consumer Payment Preferences was conducted by the American Bankers Association and Dove Consulting. 58 E n E rgyB i z November/December 2007 tHougHt lEadErsHiP – sPonsorEd By MastErcard WorldWidE

Table of Contents Feed for the Digital Edition of EnergyBiz - November/December 2007

EnergyBiz - November/December 2007 Contents Continental Grid Vision Needed Readers’ Views and Opinions Next for National Grid Clearing the Air The Need for Nuclear Energy Trade Status Report The Innovators California On The Leading Edge FERC Sparks Change Getting Coal Right Leadership in Times of Turmoil Innovation Delivers Return A Tale of Two IPOs LNGs Bright Prospects Generation Techologies The Age of Superconductors Leaders with Vision Get Ready for Plug-in Hybrids Betting on Batteries Cost of Decarbonizing Nuclear Helmsman – A chat with Dale Klein, Chairman of the U.S. Nuclear Regulatory Commission Global Energy Snapshot; Low-Income Energy Help; IT Spending Robust; The Greening of State Regulators; Generating Support Simplifying Offshore Wind Regs Chasing Construction Costs Energy Agency Sets New Course Deregulation Means Higher Rates Go-To Staffer Nightmare in Manhatten

EnergyBiz - November/December 2007

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