Consumer power means better electricity prices

Consumer power is leading electricity retailers to be more innovative in their pricing with at least one offering a big online discount to staunch the flow of customers to other suppliers.

Consumer NZ chief executive Sue Chetwin said competition between retailers to keep consumers had never been more fierce and ordinary households were finally reaping the benefit.

“Rugby might be dominating our thinking but many Kiwis will be watching games on their telly at home, in their heated rooms, paying less for their electricity supply because they have taken the initiative and switched power companies.”

“The success of the ‘What’s My Number’ campaign means that over 162,000 consumers have switched power companies in the past four months,” she said. That’s also meant consumers have had the power in their hands when negotiating with their existing retailer or a new one.

“The other beauty of the campaign,” she said, was that it was free for consumers to visit both the ‘What’s My Number’ website www.whatsmynumber.org.nz and then move on to Consumer NZ’s free Powerswitch site www.powerswitch.org.nz to initiate a switch or find out more information.

The campaign, conducted by the Electricity Authority in partnership with the Ministry of Consumer Affairs and Consumer NZ, aims to help New Zealanders make more informed choices about their electricity suppliers.

“Our aim has always been to empower the consumer,” says Authority Chief Executive, Carl Hansen.

“We wanted New Zealanders to understand how simple and effective the process is to switch electricity providers, and in turn increase competition within the industry.

“This is exactly what we’ve achieved since the ‘What’s My Number’ campaign launched, now it’s important that consumers continue to check and make sure they are on the most suitable plan on an ongoing basis.

“With the focus on the Rugby World Cup and summer approaching we’ve substantially cut back our ‘What’s My Number’ advertising over the last four weeks, which we expect will flow through to lower switching rates for a period,” continues Hansen.

“However, the Authority’s ongoing work will continue to promote switching and support our commitment to increasing retail electricity competition and innovation.”

Some of the statistics from the campaign to date include:

For more information visit www.whatsmynumber.org.nz.