Will I still get my local energy trust rebate if I switch electricity retailer?
Yes, in most areas it doesn’t matter which retailer you are with, you will still get your rebate.
There are 29 lines companies in New Zealand, and each one is responsible for a different region. In some areas, the lines companies (network companies) are owned, or part owned, by trusts. If you live in an area where the network company is a trust, you automatically become a member of the trust and you usually will receive a share of the dividends that the network company gets from the trust.
Sometimes the returns will be paid as a cheque and sometimes passed on as credits on your bill from the retailer.
This is often called a network rebate.
Because this money comes from the network company, not the retailer, you will receive this money back no matter which electricity retailer you are with.
If you move out of the area serviced by the network company you may not receive the rebate because you are no longer a member of the trust.
The only exception to this rule is in the Bay of Plenty where customers get a rebate from the local electricity trust (Tauranga Energy Consumers Trust) only if they have Trustpower as their retailer.
What does the Electricity Authority do?
The Electricity Authority promotes competition in the electricity market for the long term benefit of consumers. The Authority runs an easy online calculator for consumers to check if they could find a better power deal.
Check whatsmynumber.org.nz for more details.