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9 in 10 Kiwis believe electricity prices are “too high”

9 in 10 Kiwis believe electricity prices are “too high” as pressure mounts on Government’s electricity review

More than 90% of Kiwis believe the price of electricity is too high and over half feel they are getting an unfair deal from their retailer, according to a new survey of 1800 households by One Big Switch.

The pressure is on for Minister Megan Woods’ review into electricity prices to produce real change with expectations high amongst Kiwis, the survey by NZ’s new people power campaign shows.

Nine out of ten households support Energy Minister Megan Woods’ review of the energy industry in New Zealand. However, only a third said they expect the review will reduce the price of electricity.

A whopping 97% agreed that New Zealand power companies should be required to inform customers about the cheapest plan they can offer them, as happens in the UK. This was also in line with the Australian consumer watchdog’s recommendations in July for increased transparency.

In New Zealand, each year the Electricity Authority releases a figure on how much Kiwis could have saved if they were on the best plan for them, and this year the savings left on the table sharply rose by 27% to an excessive $370m.

One Big Switch NZ CEO Tim Rudkin says that industry inefficiency should not become a burden on consumers.

“While we wait for government and industry to figure out how to solve our spiralling electricity prices, Kiwis are carrying the burden and are millions out of pocket. We’ve decided to do something about it now and everyone can do their part by signing up to our new campaign,” he said.

One Big Switch is a consumer-driven campaign aiming to reduce electricity costs by registering the interest of 20,000 Kiwi households and using their combined buying power to unlock better rates. 12,500 households have joined so far.

By becoming a member at onebigswitch.co.nz, Kiwis can help unlock group discounts on electricity. It takes less than 30 seconds to join, it’s free and members are under no obligation to accept the offer. The more people who join, the more powerful the campaign becomes.

Overseas, One Big Switch has sparked significant change with more than one million members in Australia, UK and USA accessing real discounts on their power rates. In Ireland, which has a similar population to New Zealand, the campaign reached 140,000 members.

Kiwis can sign up now for free at onebigswitch.co.nz.

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