18 June 2018 - New tool unlocks key changes in retail electricity market
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.
In 2011 consumers only 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,” Mr Hansen says.
“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 can be viewed on the Electricity Authority website.
The Retail Market Snapshot uses Tableau data visualisation software to present Electricity Market Information (EMI) website data in an easily accessible way.
Users who are looking for more in depth data can follow the links in the tool to the corresponding EMI reports.
Data will be updated on an annual basis so that year on year comparisons can be easily made.
The Electricity Authority actively promotes the use of open data to improve awareness and understanding of how electricity markets function and deliver for consumers.
For more information
Senior Communications Advisor
M: 0275 651 308
M: +64 21 321 831
The Electricity Authority is an independent Crown Entity with a statutory objective to promote competition in, reliable supply by, and the efficient operation of, the electricity industry for the long-term benefit of consumers.