More choice as retailers innovate in options

More choice as retailers innovate in product, payment options

Consumers now have even more choice over who supplies their electricity, the products on offer, and ways to pay than they have ever had, says the Electricity Retailers’ Association of New Zealand (ERANZ).

Chief Executive Jenny Cameron welcomed the Electricity Authority’s 2015 market performance review, which shows there now are 31 retail brands backed by 20 retailers, all offering something different in a bid to attract customers and increase service options.
“Electricity retailers continued to innovate in 2015, particularly by offering new products and alternative ways for consumers to pay for and manage their electricity use, and the report reflects that.

“Customers are increasingly better off in terms of price and service because of this ongoing innovation, and it’s coming from all parts of the retail sector – big and small.

“Examples of new innovative products include a ‘free hour of power’ at selected time periods, passing on spot electricity pricing, bundling of services such as internet broadband with electricity and gas, useful apps and website tools, more and improved pre-pay options, targeted pricing plans for owners of electric vehicles, batteries or solar panels, and options to spread payments or choose a payment date.

“These are just some of the standouts. All companies are committed to giving customers more choice to suit their individual needs.

“This report not only reinforces the fact that the industry is highly tuned to customers’ needs but is also working hard to come up with ways of making the process more accessible, flexible, and efficient for everyone. High customer satisfaction rates with electricity retailers in 2015 demonstrate that.”
The Electricity Authority report can be found here.

About the Electricity Retailers Association of New Zealand
ERANZ was established in August 2015 to represent the electricity retail industry on important sector-wide issues such as delivering value to stakeholders and consumers, and supporting the continued development of an open, competitive, sustainable and effective electricity market.

ends

© Scoop Media