18 January 2017 - Small and medium sized electricity retailers now supply over 195,000 customers
Looking back at 2016 retail market trends, the Electricity Authority has observed strong customer growth for small to medium sized electricity retailers. Small and medium retailers have been growing their customer base steadily since 2010.
Ecotricity, Electra Energy, Electric Kiwi, Flick Electric, Giving Energy, Hunet Energy, Payless Energy and Property Power all experienced month on month customer growth throughout 2016.
Electricity Authority Chief Executive Carl Hansen says “the rapid growth of many small and medium sized retailers in 2016 indicates many consumers are exploring their options and many newer retailers are offering attractive deals to grow their business.”
“With more retailers, consumers have more choice to shop around if the status quo isn’t working for them. There are 34 retail electricity brands actively serving the residential electricity market, and they all supply electricity that has exactly the same physical reliability. Just because a brand has been around longer, doesn’t mean your physical electricity supply will be more reliable. Brands convey useful information about a range of other factors, such as the nature of their pricing or services or the type of generation the retailer is associated with.”
Of the small and medium sized retailers Flick experienced the greatest increase in customer numbers adding 9,856 customers over the year, reaching 16,986 by the end of December 2016 – a 138% growth rate.
Giving Energy had the largest percentage growth rate, reaching 4,989% in 2016. Electric Kiwi was in second place, increasing by 873%.
Hansen says “Small and medium size retailers are now serving over 195,000 customer connections. If you’re not satisfied with your current retailer, make sure you check whatsmynumber.org.nz to see if you could save money by switching to another retailer. For an even more accurate view, ask your current retailer to provide your electricity usage data so you can figure out which retailer is best for your circumstances.”
*Note: “Small and medium retailers” are all retailers except the incumbent retailers, Genesis, Mercury, Contact, Trustpower and Meridian.
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