Turning Hot Water Into A Hot Deal

Kiwi customers have an opportunity to enjoy cheaper power bills, thanks to a new hot water scheme launched by Meridian.

Smart Hot Water uses technology to shift when a home’s hot water is heated, automatically switching off the electricity supply to hot water cylinders during peak periods and switching it back on when there is less demand.

As well as easing pressure on New Zealand’s electricity supply in times of high demand, customers on the programme will get $120 of value back each year, by way of a $10 credit each month.

“Hot water cylinders are like a battery – they have lots of energy stored inside them that can be used over a long period of time, before needing to be topped up again. It just makes sense to do that topping up when prices are lower,” says Meridian Chief Customer Officer Lisa Hannifin.

“People can still enjoy their hot showers – in fact, they won’t notice the difference while they are saving money. When we trialled this with a small group of customers, we found that people enjoyed the savings with no noticeable change in the way they use their hot water,” says Lisa Hannifin.

“Cheaper power, no impact on usage - it’s a real win-win for our customers.”

Shifting hot water heating to non-peak periods won’t just reduce household costs, it will also reduce New Zealand’s reliance on non-renewable fuel sources.

Smart Hot Water will initially be available from March 10 for customers on the Orion (Canterbury) and PowerCo (lower and central North Island) networks, and who have the right meter and tariff, although Meridian expects to soon be able to offer Smart Hot Water for many more customers.

Meridian has recently refocused its retail business to deliver more innovative products for customers. Smart Hot Water joins Meridian’s EV plan and Four Hours Free plans as early examples of what customers can expect.

“Customers are already responding to these changes, with record numbers of customers signing up. As of 1 January, Meridian had achieved its highest share of the market ever across our brands, with 16.58% of all electricity connections in New Zealand,” says Lisa Hannifin.

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