New tool unlocks key changes in retail electricity market
15 June 2018
New Retail Market Snapshot tool released today highlights key retail electricity market information and shows 80 per cent of New Zealand households now have a smart meter, up from just 62.6 per cent in 2014.
The uptake in smart meters is just one of the key changes in the New Zealand electricity market highlighted in the new Snapshot tool.
Interested members of the public can use the tool to easily find retail electricity market information and see how the market is evolving over time.
Electricity Authority Chief Executive Carl Hansen says, “If consumers are aware of the key changes in the New Zealand electricity market, they may be more likely to investigate their electricity options and make the best decision based on their needs.
“With the Snapshot we can see an increase in the uptake of new technologies such as smart meters, which has helped to unlock new products and services for consumers.”
Mr Hansen says, "Innovative retailers can use smart meters to better understand consumers and offer competitive pricing, products, and services including time-of-use pricing, a daily free hour of power, and personalised billing schedules."
The tool also highlights how consumer choice has continued to increase year-on-year.
Mr Hansen says, “In 2011 consumers had a choice of between 5 and 16 retail brands, depending on where they live. By 2017 this number had jumped to between 12 and 35.”
“Having more retailers in the market creating new offerings is a sign of healthy competition and gives consumers more options to get a service tailored to their preferences.”
The Snapshot tool can be viewed on the Electricity Authority website.