Flick Electric Co. tops Consumer NZ satisfaction survey
Flick Electric Co. tops Consumer NZ satisfaction survey with 96% rating
Flick Electric Co. has the most satisfied customers in the electricity industry according to the results of Consumer NZ’s energy customer satisfaction survey released this morning. The company achieved a rating of 96% - more than 20% higher than the average across all suppliers.
Flick CEO Steve O’Connor says the result endorses Flick’s approach which enables residential demand-response behaviour for the first time in New Zealand, putting customers in full control of their electricity purchase.
“New Zealanders have never had any genuine choice in the New Zealand market because it is dominated by a small number of companies who all offer the same thing.
“Flick approaches electricity retail in a genuinely different way for the first time - which includes a whole different attitude to our customers – and that is clearly reflected in this result,” he says.
Flick unbundles all of the costs that contribute to a customer’s bill and passes these through at the wholesale rate, then charges a separate, transparent fee to be a customer’s retailer. This ensures the customer pays the true market cost of supplying their property, and gets full transparency of those costs.
The company’s unique ‘pass through’ model includes access to the spot price of generation which enables customers to take advantage of very low market prices at certain times of day.
Regularly customers are able to buy electricity at as little as one-quarter of the common all-inclusive flat prices. This has resulted in 16% average lifetime-to-date savings across all customers since launch (more than double Powerswitch historical savings), with some weeks averaging savings of 25%. An estimated 60% of all Flick customers regularly respond to price signals in some way to save more.
“There are a number of established practices in the industry that we think are really bad for customers. We have deliberately rejected and challenged those things – like fixed term contracts and break fees for example – and we know our customers appreciate it,” says O’Connor.
Flick Electric Co is able to serve customers with smart meters throughout most of the North Island, and in Dunedin. The company offers complimentary meter upgrades in Auckland and Wellington.