Power Bill Anxiety a Factor for Young Kiwis

Power Bill Anxiety a Factor for Young Kiwis

Survey Shows Homes Warmer/Drier With Heat Pumps and Residents Healthier

Auckland, 20 September 2012 – Drier homes and improved health are some of the findings of a new Canstar Blue survey examining consumer satisfaction with Heat Pumps, released today.

An overwhelming 87% of respondents said that their homes were easier to heat following the installation of a heat pump, and 49% reported better health, said Derek Bonnar, Canstar New Zealand National Manager.

“Many New Zealand homes are not well insulated. Damp, cold homes are more expensive to heat, as well as having the potential to cause winter health problems for people living in them.

“Heat pumps are one of the most efficient forms of heating available1 with the advantage that they can also cool the home during summer. Nearly half (49%) of those in the survey reported that their power bills had decreased when using a heat pump, and just over half (55%) said they used their heat pump for cooling in the summer,” said Bonnar.

Brand Winner
The consumer survey found that Daikin heat pumps has the most satisfied customers, taking out the overall satisfaction award for the second year in a row, with a five star rating.

The survey covered eight categories:
1. Value for money
2. After sales service
3. Reliability
4. Ease of Use
5. Functionality
6. Noise
7. Energy efficiency
8. Overall satisfaction

Daikin was a clear winner ahead of Mitsubishi Electric, Panasonic and Fujitsu General.

It was the only brand to receive 5 stars in the value for money, after sales service, reliability and energy efficiency categories, said Bonnar.

“These high scores show that Daikin recognises the importance of what happens after the sale is made. Customers are rewarding them for that.”

Winter Power Bills Hit Wallets
The survey also showed that winter power bills cause stress and anxiety for a significant portion of New Zealanders.

GEN Ys are more likely than other age groups to feel stressed at power bill time, with 56% anxious about opening their power bills, compared to 44% overall, said Bonnar.

“The younger generation are twice as likely as baby boomers to reduce spending in other areas, so they can pay their power bills.

“Surprisingly, GEN Ys are not leading the stakes in switching electricity providers. That title goes to GEN X, with baby boomers the least likely to change providers.”

The recent “What’s my number” government sponsored electricity switching campaign had (as of 3 September) performed 672,948 calculations, identifying potential savings of $101,209,129.

About the survey
Canstar Blue commissions Your Source to regularly survey 2,500 New Zealand consumers to measure their satisfaction across a range of products and services.

The outcomes reported here are the results from a survey of consumers who purchased a domestic heat pump within the last two years, within the survey group, in this case, 332 people.

Age Groups:

Gen Y: 18-29
Gen X: 30-44
Baby Boomers: 45+

*To view the full results of the Canstar Blue survey go to: www.canstarblue.co.nz

ENDS

About Canstar Blue

Canstar Blue is a division of financial research and ratings company, CANSTAR, which has been operating in New Zealand for nearly a decade.

Canstar Blue uses market research to determine customer satisfaction ratings across a range of products and services in New Zealand to help consumers make the best purchasing decisions for their needs. Canstar Blue conducts similar research in Australia. New ratings are added regularly. Results are freely available to consumers who are encouraged to use the ratings as a guide to product excellence. The results can be seen at www.canstarblue.co.nz.

About CANSTAR:
Founded in 1992, CANSTAR Pty Limited is Australia and New Zealand's premier researcher of retail finance information for over 350 institutions such as banks, building societies, credit unions, finance companies, brokers, mortgage originators, life companies and finance related internet portals. CANSTAR customers use the extensive database for competitor analysis as well as a means of disseminating their product range. This information is also distributed to print and electronic media for publication and to agents, accountants, brokers and internet portals for use in advising their clients.

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