Energy Competition Task Force Proposals Good News For Consumers, But Nothing New

These changes would require lines companies and large electricity retailers to better compensate households that feed electricity back into the grid during peak demand periods. This would ensure there is more consistent return for investment in solar, and encourage more strategic use of residential solar systems.

“Consumers have a valuable role to play in the energy system and should be rewarded for their contribution. Solar panels and batteries can help with meeting New Zealand’s increasing energy demands, and exporting more into the peak will help us avoid blackouts. They are also starting to make more financial sense for households," says Octopus Energy NZ Chief Operating Officer Margaret Cooney.

“Time of use plans are also a no-brainer. Electricity costs more to produce and deliver at peak, and New Zealand has a real problem meeting peak demand. That’s why Octopus has already been rewarding customers for shifting usage and exporting energy.

“We think it’s a good thing that the Big 4 gentailers will now have to as well, and it’s positive to see the Electricity Authority move on this. But, if they really want to see the broader benefits of innovation they need to also move on removing the barriers to competition created by the Big 4. In short, these regulations wouldn’t be necessary if the market was working well,” says Margaret Cooney.

Octopus currently offers the following export rates:

• Peaker 23c/ kWh peak and 10c/ kWh off peak
• Flexi 17c/ kWh

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