By Kate Harvey
Content Manager | Pou Whakahaere Ihirangi
New Zealanders are losing the two power companies that have been providing the most customer satisfaction.
It was announced this morning that Frank Energy will be absorbed by its parent company Genesis.
Both Frank and Flick Electric received our People’s Choice award this year, based on how well they’d done in our March power company satisfaction survey.
Flick Electric has since been sold to Meridian Energy.
Frank Energy was launched in 2022 and, in 2023, won our People’s Choice award. It held onto that award in 2024. Earlier this year, it stopped supplying gas but still kept its People’s Choice status for the third year in a row.
Frank had a market share of 5% and Flick 2% before the announcements – between them, they had about 142,000 customers.
Frank’s customers will need to decide whether they roll over to become Genesis customers or find a different power company before September 2025.
Flick’s time frame isn’t as firm – customers have been told they have 4–6 months before the change kicks in.
Ecotricity is also owned by Genesis, and it will also be part of the ‘consolidation’. But it’s not so clear what this will look like. Ecotricity products will remain on the market while Genesis finalises its plans for this subsidiary company.
What should Frank and Flick customers do?
Consumer NZ runs the online power company comparison tool Powerswitch.
We think Frank and Flick customers should use Powerswitch to check how Genesis and Meridian plans compare with what’s out there. It takes just a few minutes to find out what the cheapest power plan is for your household on the Powerswitch website.
The results of our power company satisfaction survey could also help you decide which might be the best or worst power company for you.
If Frank customers don’t take any action and become Genesis customers, they’ll be put onto a plan with no fixed term. This means they won’t be locked in and can easily switch at any time.
What we think about the news Frank Energy is closing
Paul Fuge is the manager of Powerswitch. He said it was disappointing to learn today that we are losing another company that consistently rates well in our surveys.
“Frank’s closure, following close behind Flick’s sale to Meridian, is another blow to competition in New Zealand’s electricity retail market,” Paul said.
“This closure further reduces choice for consumers. Frank was a popular choice on Powerswitch and consistently rated highly for customer satisfaction. For Frank’s customers, this is a chance to review their options – but in the bigger picture, our country’s power market is becoming less diverse and less dynamic.”
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