Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Wise Prepay third new member for ERANZ in recent weeks

1 August 2017

Wise Prepay third new member for ERANZ in recent weeks

Prepay electricity retailer Wise Prepay Energy has joined the Electricity Retailers Association of NZ (ERANZ) – the third new member in recent weeks.

Wise Prepay follows spot-price retailer Flick Electric Co, which joined in June, and electric vehicle charging infrastructure provider ChargeNet NZ, which joined in July. The addition of Flick took ERANZ’s representation of electricity retailers by market share to 99.5 per cent.

Wise Prepay, which had 2115 customers at the end of May, is one of just three retailers that offer prepay power to its customers, promoting their service as no deposit, no credit check, no contract and no break fee. Customers using prepay avoid monthly bill shock, get electricity on their terms to fit in with their budgeting, and top up when it’s convenient for them.

Other retailers to offer prepay are Mercury subsidiary GLOBUG, which offers only prepay, while Contact Energy offers it as an option alongside regular contract plans. Genesis has a small prepay customer base, but is no longer taking new customers.

According to the Electricity Authority’s 2016 review of the electricity market, there were a total of 43,560 pre-pay connections across New Zealand in 2015.

Wise Prepay is based in Auckland and its offering is available there as well as in Waikato, Rotorua, Taupo, Napier and Hastings. It entered the market in 2015 and is run by Kruger Venter, who has previously owned companies with afocus on ‘credit solution’.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

Wise Prepay gathers information from customers’ smart meters to manage its service, sending usage, balance information and account status on a daily basis to customers via its website, mobile app, texts, and email messages. Customers can top up their accounts by using the mobile app, website or top-up cards.

Mr Venter says he joined ERANZ because it promotes an open and competitive retail electricity market.

“We wanted also to gain access to the thought-leadership and networking opportunities available to ERANZ members.”

ERANZ Chief Executive Jenny Cameron says she is encouraged that ERANZ appeals to retailers of the size and type of Wise Prepay.

“ERANZ provides an opportunity for all retailers to learn, network, and build on experiences in order to deliver best-practice service for customers.”

ERANZ Independent Chair Jennie Langley says it’s great that ERANZ’s hard work as a voice for both retailers and consumers is being recognised across the industry.


ends

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.