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Households switching power companies highest in 8 years

Over 42,000 households switched plans between different power companies in August, the second highest month on record according to data released by the Electricity Authority (EA), Electricity Retailers’ Association Chief Executive Cameron Burrows says.

Switching was the highest ever for an August month. In total, 445,000 households switched their power provider in the past year.

“But that’s only part of the switching picture,” Mr Burrows says. “Data from the EA’s Electricity Consumer Survey indicates 165,000 households switch plans within their existing retailer each year, and a further 610,000 compare plans but choose not to switch.

“There’s never been a better time to compare power plans, with the average annual power bill now at its lowest level in ten years.

“New Zealand has a competitive electricity market, with 39 power companies competing for customers. It’s great to see so many Kiwis comparing plans and making sure they’re on the right one for them.

“It’s not all about prices—power companies offer lots of different plans with benefits beyond just the price, like smooth-pay which helps avoid high winter bills, bundled plans including internet, phone, and TV, and different levels of customer service.

“With bills going down it’s important everyone checks their power plan. Some households can save $200 a year, so all households should hop onto Powerswitch (powerswitch.org.nz) and make sure they’re on the right plan for their needs.”

The Electricity Authority’s switching statistics are available here.

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