UK Power Networks has been named Britain’s Most Admired Company for the Energy Distribution and Supply sector for 2022.
The award, part of the Britain’s Most Admired Companies survey conducted by Echo Research in partnership with Coventry University, places UK Power Networks alongside companies such as Amazon, Legal & General, and Vodafone.
The annual benchmark has been running for 33 years, inviting C-suite business leaders across the FTSE, as well as financial analysts, journalists, and commentators to rate companies in their sector.
The 2022 survey, which has just been announced, rated 259 UK companies after interviewing 292 C-suite peers and analysts across 28 sectors.
Companies are rated based on a set of 13 criteria, including Quality of Management, Quality of Products and Services, Financial Soundness, and Environment, Social and Governance (ESG).
UK Power Networks took the top spot in five criteria: ‘Capacity to Innovate’, ‘Inspirational Leadership’, ‘Quality of Management’, ‘Ability to Attract, Develop and Retain Top Talent’, and ‘Long-term Value Potential’.
UK Power Networks says that it had an outstanding year in 2022. It was ranked number one in the Institute of Customer Services’ Customer Satisfaction Index, and had the most satisfied customers in the sector at 93%, according to industry regulator Ofgem.
The company has also made a major commitment to helping the UK reaching net zero targets. UK Power Networks is processing over 9,000 Low Carbon Technology (LCT) connection requests every month – a 300% increase in less than a year, and leads a commercial EV trial using data from 6,000 vehicles to slash costs of EV fleets for local businesses.
Sandra Macleod, CEO of Echo Research, says, “We were delighted to award UK Power Networks top place in its category for 2022. This has been a year of unparalleled change and disruption across the energy supply market. UKPN should be particularly proud, therefore, to have been judged the Britain’s most respected energy distribution and supply business by sector peers and city analysts.
“This study reflects the views from a company’s closest observers and harshest critics – its peers and analysts. Over its data-rich history, Britain’s Most Admired Companies study has consistently reflected the drivers of reputation, each year pinpointing those businesses that are at the top of their sectors and those leading in specific reputational criteria.”