Media release: NZ households could save $388 on average by switching energy plans
With power prices expected to rise this winter, now is the time to check you're on the right plan for your household, using the energy-comparison site Powerswitch.
Powerswitch by Consumer NZ provides New Zealanders with a free and independent electricity and gas price-comparison service to help them find the most affordable deal.
Consumer NZ research found power costs were a big worry for one in three Kiwis. Seventeen percent reported having trouble paying their power bills.
“It’s increasingly likely that prices will rise over winter, which is why it’s important to ensure New Zealanders are on the best deal for their household. We’ve already seen a jump in pricing with some energy companies in March,” Consumer NZ chief executive Jon Duffy said.
“Consumers can switch in less than five minutes and save hundreds. The average household can save $388 a year. New Zealand has low switching rates when it comes to energy. Annually, only 20% of households switch. The majority of those are people moving homes, with only 6% of households switching for a more competitive rate.”
The Electricity Price Review (EPR) estimated electricity retailers could be earning as much as $39 million in extra revenue because customers aren’t on the right plan.
Powerswitch helps households compare energy plans and indicates the savings you could make by switching.
"Switching was really easy and it only took a matter of minutes. I won't say no to a few extra hundred dollars."
New Zealand’s most frequent energy switchers can be found in Auckland, Canterbury, Waikato and Nelson. The lowest switch rates were in West Coast, Marlborough, Northland and Southland.
“As the energy market continues to fluctuate, it pays to shop around, which is why we encourage households to regularly check if the plan they’re on remains the best deal for them,” Duffy said.
Consumer NZ receives funding from the Electricity Authority to provide New Zealand consumers with a free and independent electricity and gas price comparison service. Additional funding has been received from electricity and gas retailers, and the Gas Industry Company.
Could you be saving? Use Powerswitch today.