PEPPs Uncover NZ’s Best Electricity Deals

PEPPs Uncover NZ’s Best Electricity Deals

The inaugural PowerSwitch Electricity Price Pick (PEPP) survey has identified some of the best-priced electricity companies in the four main centres.

The PEPP survey is provided by PowerSwitch, the independent guide to electricity pricing produced by the Consumers’ Institute with funding from the Ministry of Consumer Affairs. PowerSwitch is free for all consumers to use and can be found at www.powerswitch.org.nz.

The PEPP survey analyses the likely cost of power consumption for small, medium and large households in Auckland Central, Wellington, Christchurch and Dunedin, and has identified considerable variation in electricity pricing around the country.

Overall the survey found Genesis Energy and Empower to be the cheapest retail electricity suppliers in Auckland Central and Wellington respectively. Contact Energy was the cheapest in both Christchurch and Dunedin. Some consumers stand to make significant savings if they switch suppliers.

PEPP Results: Best Deals (Company / Plan name)

Area Small Household Medium Household Large Household
Auckland Central/Manukau Genesis EnergyComposite Genesis EnergyComposite Genesis EnergyComposite
Wellington EmpowerAll Day Economy (Standard user) Empower All Day Economy (High user) Empower All Day Economy (High user)
Christchurch Contact EnergyAll Day Economy Contact EnergyAll Day Economy Contact EnergyAll Day Economy
Dunedin Contact EnergyAll Day Economy Contact EnergyAll Day Economy Contact EnergyAll Day Economy

Consumers’ Institute chief executive David Russell said that the results will give consumers a good indication of the best deals currently available.

“The PEPPs are designed to highlight some of the best deals around for electricity consumers right now, and also to allow consumers to see which companies consistently provide the best pricing over time.”

“While the PEPPs are a useful guide to the best deals for our three model profiles in four locations, many households have unique profiles and are located outside the main centres. We would encourage all consumers to visit PowerSwitch and enter their own details to find the deal that suits their individual situation.”

Consumers’ Institute welcomes the recent decision by Meridian Energy to scrap it’s compulsory $150 bond for new customers.

“We have real fears that any across-the-board introduction of bonds will have an anti-competitive effect since they are likely to discourage households from switching to cheaper suppliers. We will continue to closely monitor the use of bonds within the industry.”

PowerSwitch plans to announce a further set of PEPPs in six months time.

© Scoop Media