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A good time for an electricity check-up

For immediate release

Media release: A good time for an electricity check-up

28 February 2014

New Zealanders made a record number of electricity retailer switches in 2013. As electricity retailers update their pricing plans for 2014 taking into account increases in distribution and transmission charges, the Electricity Authority is encouraging all consumers to review whether they are still on the best deal.

In 2013, 396,383 consumers (19.75% of all consumers) switched electricity suppliers compared to 356,751 consumers who made switches in 2012.

Carl Hansen, Chief Executive of the Electricity Authority says, “this increased switching activity is incredibly positive as it shows that consumers are realising how worthwhile and easy it is to actively shop around for the best deals.”

Electricity retailers will typically make any changes to their current pricing plans in autumn because most line companies adjust their regulated prices from 1 April. To help encourage New Zealanders to be more informed on their electricity options, the ‘What’s My Number’ television advertising will be running over the next few weeks.

The campaign is designed to encourage consumers to identify whether they could make any savings by altering their current plan or retailer.

The point of the campaign is to add to the competitive pressure in the electricity market explains Mr Hansen.

”The more people who actively compare their options, the stronger the competition is among retailers. In fact, switching rates are only part of the equation. What’s most important is that all consumers are actively shopping around for the best deal. Simply having a chat with your current provider can help you sharpen up your deal.”

To find out more check www.whatsmynumber.org.nz  .

ENDS

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