ATLANTA – Financial and insurance services – warranty plans, in-home wiring/piping insurance and financing tools – are the most popular and profitable utility offerings among residential customers, according to Chartwell research published in Residential Warranty & Financing Programs, a new report released this month.

The slowdown in deregulation and low success rate of some non-core products led to a revival in some old energy-related standbys, including appliance protection plans, financing and repair, as well as in-home wiring or piping protection plans, which are relatively new to the scene.

Chartwell’s 2002 survey of 50 energy companies regarding their residential products and services reveals that in-home wiring service contracts grew from 4% of utilities providing this service in 2001 to 8% in 2002. With the growth in the number of utilities planning (from 4% to 6%) and considering (from 12% to 14%) an in-home wiring protection plan, Chartwell predicts this service will become a more common utility offering.

These plans are garnering interest as utilities seek to repeat the success of phone companies. Under a home wiring maintenance agreement, homeowners pay a monthly fee on their utility bill in exchange for the utility’s handling inside wiring/piping repair.

For example, Progress Energy’s HomeWIRE guards against problems with outlets, switches, fuses, breakers, inside wiring and the outside meter can, up to $500 per year, for $3.95 per month. HomePIPE covers the repair or replacement of natural gas piping inside the home, including leaks. It costs $2.95 per month. The Chartwell report includes a five-page case study on Progress Energy’s program. It also includes a case study on EnergyUnited’s use of an outsourcer to provide a range of appliance warranties.

Residential Warranty & Financing Programs, which is available for $250, also includes an Excel database of 22 utilities’ warranty plans, including covered appliances, monthly cost, deductible and other details.

The report is part of The Chartwell Utility Marketing Research Series, an ongoing information service that provides utility case studies; topical analysis and research centered around specific products or services in the utility and energy services marketplace; and a database of 70 utilities and the products and services they offer.

For more information about the Research Series or the Report on Residential Warranty & Financing Programs, call (800) 432-5879, or (404) 237-9099. Press contact: Jennifer Quay Allen (404) 237-9099.