We have a competitive electricity market with 33 different retail brands across the country, offering an extremely wide variety of plans, payment options and special deals.
We encourage consumers to regularly shop around for the best electricity deal. There are two reasons for this: firstly, it can save you money an average of $162 a year based on our latest estimates. Secondly, active consumers place competitive pressure on electricity retailers to offer good deals.
We recently asked grownups.co.nz members whether they’d switched power companies – nearly 70% had, some more than once. Our website whatsmynumber.org.nz is a free, fast way of comparing your options and potential savings.
Switching ensures you’re on the best deal. But another option is to contact your current electricity supplier and ask what’s available, especially if a competitor is offering you a better rate. After all, if you’re happy with your supplier’s service and have been a loyal customer, you’re likely to be valuable to them and they may be keen to improve their offer. In fact, I’d recommend contacting your current retailer every year or any time your situation changes to stay up to date and get the best deal possible.
So, whether you ultimately choose to switch or stay, the most important thing is to actively consider the options available and make a choice that best suits your circumstances. It’s easy.
Carl Hansen, Chief Executive, Electricity Authority
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