Two further alignment reviews
We have carried out two further alignment reviews. We reviewed only the contracts of the few retailers that had not achieved a satisfactory level of alignment in previous reviews, along with the contracts of several new entrant retailers that had not previously been reviewed.
The results of the most recent reviews showed that of the seven retailers that had not previously achieved a satisfactory level of alignment:
- Pulse Energy Limited, Just Energy, Energy Direct NZ Limited, Prime Energy Limited and Stewart Island Electrical Supply Authority have improved their contracts and have achieved a high level of alignment with the minimum terms
- Hunet Limited (Hunet) has not changed its contract and remains poorly aligned.
Of the five new entrant retailers reviewed:
- Flick Electric Limited and Body Corporate Power Limited have achieved high levels of alignment, consistent with nearly all previously reviewed retailers in the market
- Ecotricity GP Limited, Giving Energy Limited and Electric Kiwi Limited had lower but satisfactory levels of alignment.
From the alignment reviews we have completed to date, Hunet remains the only retailer that has not achieved a satisfactory level of alignment with our minimum terms. As we alluded to following the 2014 follow-up review, we have summarised Hunet’s results on the Consumers section of our website.
To encourage retailers to continue improving their contracts, we may carry out further alignment reviews in the future.
*New Zealand Energy Limited’s (NZ Energy) contract had also not achieved a satisfactory level of alignment in previous reviews. However, we accepted NZ Energy’s request that its contract not be part of this most recent review. As a smaller retailer supplying an islanded network (Haast), NZ Energy did not consider the minimum terms helpful or applicable to it.