Over 50% of Waikato residents switch power suppliers

More than 50% of Waikato residents switch electricity suppliers

Electricity switching rates in Waikato are the second highest in the country with over half of households switching suppliers in the last five years.

New figures from the Electricity Authority estimate last year over 40,000 Waikato households switched providers, and could have saved $26,536,488 or an average annual saving of $147.

Electricity Authority Chief Executive Carl Hansen is pleased so many local consumers are exploring their options.

“Waikato residents are using more power, with average residential consumption seeing the highest increase in New Zealand at 4.1 percent”, says Hansen. “In this environment it is important that consumers shop around and check they are on the best deal for them.

"The New Zealand electricity market is very competitive. There is a wide range of deals and plans available to suit different families and lifestyles” he says.

“In the Waikato region alone we saw two new retailers enter the market last year, offering locals more options than ever before.”

The new brands available to Waikato consumers are Energy Direct and Flick Energy. Local consumers now have up to 17 electricity providers to choose from depending on their network.

“It’s important consumers realise that their choice of retailer makes no difference to the reliability of their electricity supply – those outcomes are affected by the performance of their local distribution network and by Transpower, and is the same regardless of which retailer consumers choose,” Hansen says.

Across New Zealand we continue to see high switching rates. New figures from the Electricity Authority show that over 385,000 households switched electricity providers in 2014. If all eligible Kiwi households had switched to the cheapest electricity provider during the year they could have collectively saved $281 million or an average of $162 per household.

“As winter really starts to take a hold, now is the right time to check your plan,” says Hansen. “Even if you’ve switched providers in the past, we encourage all consumers to regularly check, as offers change. Heading to the What’s My Number website makes this easy.”

“Checking your deal doesn’t mean you have to change plans, and it doesn’t have to be about finding the cheapest provider. Sometimes it’s just a matter of knowing what alternative services are being offered and what other incentives might be right for you,” Hansen says.

Changing electricity suppliers is very straightforward. A recent Electricity Authority survey of consumers showed that 90% found it easy. Once you have identified the potential savings on What’s My Number you can simply click through to Consumer NZ’s Powerswitch website to compare your options and start the switching process. Alternatively, you can call the new provider who will manage the change for you.

What’s My Number is run by the Electricity Authority in partnership with Consumer NZ, and puts choice in consumers’ hands by helping them to shop around. To find out if you’re getting the best deal for your power, visit www.whatsmynumber.org.nz.

ENDS

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