Making it easy to get the best deal for your power

The Electricity Authority Te Mana Hiko (Authority) will be making it easier for consumers to get the best deal for their power. The Authority has published a ‘Consumer mobility roadmap’ of upcoming proposed changes to simplify information and improve access to products and services to benefit consumers.

The proposals signalled in the Consumer mobility roadmap will:

• make it easier for consumers to understand their power bills
• make it easier to compare power plans and providers, find better deals and switch
• increase choice and competition
• support innovators to bring new products and services to market
• enable a digital system to be built to serve people
• reshape the power system for a more decentralised and people-centric future.

“This is not about consumers doing more - it’s about creating a system that serves consumers better,” Authority General Manager Retail and Consumer Andrew Millar says. “The changes we’re proposing will build on our work to support a more competitive electricity market through the Energy Competition Task Force.”

Over the coming year the Authority will be engaging with the sector on the proposals, all designed to give consumers access to better information and more choice. “These changes include a new comparison and switching website and proposals to improve access to consumption data, set standards for power bills, and enable consumers to have more than one power retailer,” Millar says.

Currently, information on power bills varies across retailers and information on power use and power products is hard to access and inconsistent.

“Our research indicates that thirty-eight per cent of consumers haven't changed providers in over five years and one in three lack confidence in understanding their power bill,” Millar says. “We need to address the barriers for consumers, including confusing pricing structures that make it difficult for people to compare offers and understand whether they are getting the best deal. We also need to unlock access to data as this is crucial for innovation and competition.”

“We’ll be inviting market participants to contribute their insights and perspectives to our policy work,” says Millar. “We are committed to updating the electricity market rules to ensure New Zealanders get the choice and value they deserve.”