Only found this out thanks to that Billy post, but if Mercury is only slightly more expensive or similar to your current provider, why not? seems pretty good for 1 year lock in.
$300 Credit for Signing Up to 1 Year Electricity Contract (New Customers) @ Mercury
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coronasanta on 26/03/2026 - 19:19 mercury.co.nz (184 clicks)
Last edited 26/03/2026 - 19:26 by 1 other user
Last edited 26/03/2026 - 19:26 by 1 other user
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Correct, the cashback plan has higher rates. I ran the numbers, and it comes out to about $5 cheaper per month for my usage (taking the credit into account).
I’m a bit concerned they may increase prices in a few months, but that seems fairly common these days, as most retailers don’t offer fixed rates.
right. i wonder if it automatically switches to open term plan rate? if that's the case I am ok with it, if it stays on higher fixed rate, then that's a bit sneaky
Switch to another provider after your term ends. I never stay with the same provider more than 12 months. It is generally better to keep switching every year as they don't provide any retention benefits.
When I ran the numbers at my address it was going to cost me $300 more - AFTER taking the $300 credit into acc, so $600 more total - to go on the 12 month plan
They tried that recently on the 6 months free btoadband signup offer, elec + bb. Sufficient pushback to rescind the price increase. However bee has form.
CHANGES TO PRICING
All pricing will be subject to change at any time during the Term. You will be given notice of any change in accordance with Mercury's General Terms and Conditions for Residential Customers.
Quite a misleading contract if they can change the price at any time.
early termination fee will be $300 in month 1 and will reduce by $25 each month over the term of your Agreement
https://www.mercury.co.nz/-/media/project/mercury/mercury/te…So they will receive another $275 for the year.
Even with 300 credit, it's more expensive.. I'll pass
For the location that I picked, the open plan (on low user) is about 6.18c cheaper, so $300 credit equates to about 4854 units. You will start saving If you use less than that, probably best for single occupant.
Best for no one if they can change the price.
The price advertised is still higher than my current open plan.
I see Contact Energy is offering $50 credit each month for a year, so that’s $600 savings. My broadband, power, gas, and mobile is currently with Mercury. I am looking to switch everything to Contact Energy.
Has anyone experienced mobile and broadband with Contact Energy before?
I have broadband with contact. No issues. By default they put you on CGNAT but you can ask for a public IP address for free and they will give you one. No static IP address available, but, the public one is very sticky so should not be an issue.
Sounds good thanks mate
Take note of the different rates between the 12 month plan and the normal open term plan. I seem to remember that the $300 cashback plan has higher rates.
Also note than while it's 12 month term, they can change the pricing during the term.