How to Find out Best Power Company (Price Wise) ?

LMoistLanguage on 30/10/2021 - 14:48

Hey guys -
I have currently switched to Skinny for Broadband on there 6 months free and am needing to switch away from Slingshot for power since I am now not bundling both broadband + power so I lose my discount etc etc

I live in Auckland. Any suggestions? I find power really difficult to estimate/work out whats cheaper due to all the variations on fixed cost etc

Thanks in advance.

OH also - I have Gas to that i will bundle if cheaper, currently use a company called Matagas and pay $100 for a 45L bottle.

Thanks all

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  • [Deactivated] on 25/02/2022 - 11:59
    +2

    From April 1st 30c extra a day added onto the daily fixed charge for low power users increasing by 30c/year for the next 5 years. Even if the price per unit of power doesn't increase 1c over the next half a decade I still know that by 2027 my monthly bill is going to be around $36 more than what it is now (currently our monthly bill is between $50-$60). Thanks Government, appreciate it.

    • Alan6984 on 25/02/2022 - 12:28
      +1

      I agree with what you are saying, but it might be (slightly) worse still unless I am missing something:

      30c per day - call it $9.00 per month for easy reckoning.

      Going up 30c per day, each year, for five years (I am inferring that to mean on 1 Apr 2022, 2023, 2024, 2025, and 2026).

      In (just over) four years time, it will be 5 x $9 = $45 per month more expensive (on top of any variable charge increases)?

      If I have that right, your bill will be somewhere around 75% and 100% more than it is now (all other things being equal).

      Crud!

      Alan.

      • [Deactivated] on 25/02/2022 - 13:43

        yeah I worked it out at $1.50 a day but then had a brain fart and thought that that was the total we'd be paying so took the 30c off it that we already pay which brought it down to $1.20

  • Alan6984 on 30/10/2021 - 15:15
    +1

    Hi Bazz30,

    As I posted in that other thread, there is no one-best provider - it seems to always be location specific.

    That's why you get people posting to say that XYZ company is absolutely the best / cheapest, and they are correct, but only for their specific location, which they often don't appreciate.

    That's why, if you really want the best deal, you need to shop around as many different providers as you can.

    If you find someone saying that they've already done that, and you are really sure that they are close enough to you that it would be the same, then that might be a shortcut, but there will be 'invisible boundaries' (I am guessing to do with the grid layout) that means they could be the next street / town over and still get different prices to you.

    Alan.

  • MoistLanguage on 30/10/2021 - 16:08
    +1

    For some reason I cannot upload attatchments so the below is messy… spent the last 45 mins or so comparing… looks like "Energy Online" is best…

    has anyone used them?

    Company Per day charge Variable Charge
    Slingshot 2.20 0.23c
    Meridian 1.92 0.22c
    Mercury 2.26 0.12c
    Trust Power $1.97 0.18c
    Contact $2.05 0.15c
    Electric Kiwi $2.00 0.20c
    Powershop $2.11 0.24c
    EnergyOnline $1.65 0.17c
    GLOBUG (10% prompt payment) $2.30 0.19c
    Genesis (6% prompt payment) $2.23 0.21c

    Meridian also had a 12% prompt payment I think

    • Lampefir on 31/10/2021 - 09:21

      I use them here in Hataitai, Wellington, for similar reasons to you - they seem to be cost effective and are one of the few that bundle gas bottles with electricity. Worth noting they are just a brand of Genesis, for better or worse.

      A consideration I found here is that simply bundling gas bottles with electricity makes comparing very hard, but is worthwhile as I believe EnergyOnline is the best value here due to their reduced bottle rental rates when you have power with them too.

      (Mod: removed referral solicitation)

  • simch on 06/11/2021 - 15:16
    +1

    Constantly changes so best is to check on each provider's website when you want to make the switch.. it's made complicated for a reason :)

  • Wakrak on 24/02/2022 - 21:39
    +1

    $31-44 a month increase? heck

    • Foodie on 25/02/2022 - 10:18

      Email was super basic as well, no explanation, just these will be the new rates and to check the attached PDF for those rates

  • Wakrak on 30/10/2021 - 14:53

    This thread might be a good place to start

    • MoistLanguage on 30/10/2021 - 15:08

      Thanks, I did read that but thought it may attract more attention creating a new one. I see Meridan seemed to be the choice. Thanks

  • Sean on 30/10/2021 - 17:07

    Try Z electric, i just signed up rates seems not to bad but joining bonus of 50L and 25L if you use a referral link, 5L for every 100$ spent on power seems pretty good with the price of gas these days also no lock ins

  • kiwical on 31/10/2021 - 07:34

    The trouble is you can't just compare rates only. I'm with electric kiwi because of the "free hour of power" You select an hour each day an all power you use in that hour is free. Depending how dedicated you are that can be a huge saving (Think cook, dishwasher, washing machine, shower, charge everything up etc all in that hour)

  • umakant on 31/10/2021 - 07:44

    I live at ilam Christchurch,
    For me power shop seems to be cheaper 1 nzd approx day charges 14 c cents for night 25 cents for day , weekends is at night rate , including gst .in summer 17 cents night 32 cents day approx

    it changes every month plus you can buy power packs few months in advance ie you get 10 % off or discount

  • brownie1 on 12/02/2022 - 10:30

    I've been with electric kiwi then to PowerShop then thinking back to electric kiwi for the free hour.
    @MoistLanguage my trick is to get the highest % savings/month from EK and get PowerShop to price guarantee lol Feel free to pm me as I've done a heck load of research on power related stuff

    • Alan6984 on 12/02/2022 - 11:17

      Write it up and post for everyone!

      • brownie1 on 12/02/2022 - 20:05

        Basically what I said sorry, I try and get the highest % savings/month from EK and get PowerShop to price guarantee and lock it in. That guarantees you get x% savings with PowerShop without having to be with EK.

  • akrotohur on 12/02/2022 - 11:22

    There's none

    • Alan6984 on 12/02/2022 - 11:55

      There's no what?

      • akrotohur on 12/02/2022 - 13:50

        "Best Power Company (Price Wise)"

        • Alan6984 on 12/02/2022 - 20:13

          Well, that is obviously not true.

          For any given premises, at any given point in time, there will always be at least one best power company, price-wise.

          It also possible there could be more than one charging the same (lowest) price.

          That will change over time, but it just means that there will then be a different one.

          Alan.

          • gooddeals on 15/02/2022 - 23:12

            @Alan6984: No power company consistently offers the best deal.

            If you are prepared to change to maximise saving, then rotating around Z electric, powershop, frank energy and Contact, they all have various sign up off without a contract. At one stage this year, Contact offers $240 off as a Queen's birthday deal without contract. but now only $100 off available on no contract terms, (unless you bundle with internet, or has a bach).

            Z electric has variable of one off offer, and the referral option of one off 75L of fuel may not be a long term offer.
            https://www.cheapies.nz/node/31239

            Powershop prices are lower in summer, much higher in winter. they also offer a price guarantee over a year, but they are often miscalculate and you have to chase them up when one year is up. They now offer the excess payment as credit, so you have to use that up before you can leave, or else loose the credit. so effectively the price guarantee locks you in for 1 year and several months. Also depending on your luck, their customer service replies are very variable. sometimes, they only offer 15% off in lieu of the Contact 3 hour free rate on the variable rate only, but sometimes they offer this 15% discount to the total rate. or refuse to match at all. if you take them as causal, then probably can get about $38 off in the first 6 weeks.. (gets $25 on first month, $3 using the app, and $10 on second month, and leave only after you have used the credit. Now they also charge for credit card charges.

            Frank energy was previously energy online offers $50 on referral.
            and then Contact on referral has $100, but the rate is much higher on no contract rate..

            so the next question to consider, if you are low user (using 8,000 units a day).

            you may wish to consider a fixed term contract before April next year.. because of changes in regulation on fixed low user charge.

            https://www.mbie.govt.nz/building-and-energy/energy-and-natu…

            so may be keep rotating before then or after, as rotating probably gets the best deals (ironically) until the one off sign up offers are no longer available. Do note there may be a 12 month grace period in some companies before you try to sign up again.

            can check a number of comparison website, to have a feel of the prices of each power plan, but best not to sign up on from those website, unless they offer something that is not available elsewhere, but more often then not you are worse off from signing from the comparison website, e.g. Frank energy and Contact, do not offer you additional referral credits etc..

            https://www.powercompare.co.nz/
            https://switchme.co.nz/
            https://powerswitch.org.nz/

            • Alan6984 on 16/02/2022 - 08:17

              @gooddeals:

              No power company consistently offers the best deal.

              If you actually read what I wrote, you will see that is exactly what I said above.

              However, your statement that there is 'no best power company (price-wise)' is obviously untrue, in that there is always going to be one or more that are currently best for any given premises.

              As I also said above, that will change over time.

              Alan.

              • gooddeals on 16/02/2022 - 19:15

                @Alan6984: I think we both agree on same concept. There is always one best deal for a household, but the best deal and provider will change with time. Hence the need for change provider unfortunately.

                • Alan6984 on 24/02/2022 - 21:48

                  @gooddeals: Tell me anything where the same provider provides the best value product or service forever - I doubt there is any.

                  If you want the best value for money for anything over time you need to be willing to move suppliers to get that - power is no different than anything else.

  • Meridian on 16/02/2022 - 17:28

    As everyone says - it appears to vary quite a bit based on your usage pattern, whether you have gas or not, where you live and how much you use. The cheapest KWH might not make as much sense as some other deal.

    For me I like the Contact Energy 3 hrs free each night plan. The KWH rate was lower than Electric Kiwi and had 3x the free hours. Also got $100 for signing up and through the power of cheapies quite a number of extra $100's with the referral codes which is nice .

    Saying that we have pool heaters and aircon and all sorts which we can maximise the 3 hours free in. Even charge up (slowly) my sisters car a bit when she comes to visit or babysit, so on average 50% of my bill is in those hours and the other hours a lot of which our house is empty so it works well for us - others it wont.

    • gooddeals on 16/02/2022 - 19:23

      Yes if you can adjust the power use to free or off peak rates then you can make a lot of savings. May be reasonable to bundle with gas. But my review of options suggested it is generally not wise to bundle with Internet though..

    • bren on 25/02/2022 - 09:14

      Contact has worked for us. I flick the hot water off when I get up, on again at 9pm. Dishwasher, washing machine and dryer on after 9 and charge anything else I remember.

  • Foodie on 24/02/2022 - 14:59

    I just got notice from Nova that they are putting their prices up. An extra $44 per month on an average bill.
    Power
    Old / New
    Daily 1.70781 / 1.6875
    Anytime 0.16369 / 0.22298
    Composite 0.14149 / 0.20518

    Gas
    Old / New
    Daily 1.06269 / 1.41104
    Variable 0.07443 / 0.08618

    • sunshinenz on 25/02/2022 - 22:35
      +1

      In 2004 the Labour government introduced a requirement that retailers offer a low fixed charge option, such that residential consumers using less than 8k kWh a year pay less on this option than they would on any other option. This regulation necessitates a cross-subsidy from high-use consumers to low-use ones paying the low fixed charge. This policy was meant to encourage energy conservation (because the high variable charge would discourage usage).

      The 2019 Electricity Price Review then recommended that this low-usage option regulation be removed, because it brought about the unintended consequences that large, usually poorer, families subsidised smaller families. This change is to be phased out over 5 years. By the end of the 5 years there will be no more low-usage vs. high-usage. If you've got hit by big bill increases, look on the bright side: you have paid less since 2014 thanks to the cross-subsidy by larger households.

    • Detruire on 24/02/2022 - 21:33

      I received one too…

      Power
      Daily: 30c -> 60c
      Anytime: 21.169c -> 25.128c

      Gas
      Daily: 143.781c -> 165.010c
      Variable: 8.681c -> 9.562c

      That would be ~$380 (~22%) more for the amount I've used over the last year. 🤕

      • Foodie on 25/02/2022 - 10:18

        I tried to ring them but their lines were super busy (surprise surprise)
        Switching to contact means an increase of $10 per month, so ~$30 difference.. unless everywhere is putting up their prices.

        • akrotohur on 25/02/2022 - 10:20

          That's why my answer to OP's question was "there's none"….haha

          • Foodie on 25/02/2022 - 10:27

            @akrotohur: I've always not understood why the government looks at changing taxes where if they took back control of power prices it would benefit everyone..
            Business, low income, middle income, high income and it only impacts a small GST take for them.

            • sunshinenz on 25/02/2022 - 11:05

              @Foodie: Have you ever seen anything anywhere controlled by a government that is efficiently run? Sometimes things might appear "cheap" but taxpayers ultimately have to pay through massive subsidies, or huge opportunity costs.

              • Alan6984 on 25/02/2022 - 11:24
                +1

                @sunshinenz: Absolutely! We'd end up with high costs (without considering where those costs are borne), and crappy service (power cuts, massive waits for connections etc).

                Consider how things were when the government owned the old GPO. If you wanted a new phone line, they didn't care - you went on a waiting list and got it when they were ready. No competition or consequences. Now, if you want something and Spark can't do it for three weeks or for less than $1,000, you can be sure there will be someone else that will do it quicker, or cheaper, or maybe both.

        • Alan6984 on 25/02/2022 - 10:29

          If Contact are making you an offer now, is it a fixed price for the term (12 months?)

          • Foodie on 25/02/2022 - 10:31

            @Alan6984: I just quickly checked their online rates to make a comparison, haven't called them yet.

            • Alan6984 on 25/02/2022 - 10:34

              @Foodie: Usually it is fixed for the term (often 12 months). Even if they put up their rates later, you are usually locked in for that term, so even if 'everyone' is putting up their rates, all you really need to consider are the offers on the table.

              • Foodie on 25/02/2022 - 10:37

                @Alan6984: Yeah for sure. if not fixed it would be $54 a month more, instead of $44 (considering the $10 different of rates currently)

                • Alan6984 on 25/02/2022 - 11:02

                  @Foodie: Okay - Good luck, and please do let us know what deal you get.

                  • Foodie on 25/02/2022 - 12:47

                    @Alan6984: Excuse was the wholesale price of power has gone up..
                    Wholesale price graph
                    Power prices never go down so dunno how this graph reflects..

                    • sunshinenz on 25/02/2022 - 13:02

                      @Foodie: The average wholesale price is about $200/MWh, which is about 20c/kwh. When the wholesale price was $1500/MWh retailers were making massive losses.

                      Also, whatever is the problem, never, ever, ever think of the government as a solution. A lot of problems experienced in the energy sector are the direct result of government intervention.

                      • Foodie on 25/02/2022 - 13:11

                        @sunshinenz: I suspect the $1500/MWh is an error. Only a single day event.

                        I know the government isn't the solution as they screw everything over but I doubt anything will change on its own.
                        I consider myself in a position to easily absorb these costs but not everyone will be and it does have an impact in the fact that I won't have the $44 a month to spend on other things.
                        Add that into all the other cost increases and I think it's best I just live a hermit life until this blows over… fingers crossed it does eventually.

                        • sunshinenz on 25/02/2022 - 13:39

                          @Foodie: It's not an error, you can check the news around that day.

                          The power companies don't bring on those price increases out of nothing. An energy sector expert will tell you myriad of policies, some specific to the energy sector, some affecting economy wide, that this government has introduced to make energy prices higher. Unintended consequences, proudly brought to you by an incompetent government.

                          • Foodie on 25/02/2022 - 13:54

                            @sunshinenz: I agree with you but I'm definitely no expert on the matter. I just know what a 25% increase has to me and can only imagine what that would mean for lower income people.

  • Wakrak on 25/02/2022 - 12:39

    Just got this email from my supplier (Powershop)

    Annual network change - $9.84 (1.3% less)
    Annual Powershop change - $47.17 (3.7% more)
    Average monthly change - $3.11
    Annual usage (kWh) - 7,448

    • huffboy on 25/02/2022 - 13:00
      +1

      Only low power users get the big hit on the 100% increase on line charges.
      Labour wants to get rid of the "low power users" in 5 years with 30c yearly increases per day.

    • [Deactivated] on 25/02/2022 - 13:20

      Dunedin on the Aurora network

      Annual network change - $78.96 (25.8% more)
      Annual Powershop change - $57.60 (10.5% more)
      Average monthly change - $11.38
      Annual usage - 2,947

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