Carl Hansen, Chief Executive of the Electricity Authority says, “Over the last year we’ve seen a record number of new electricity retailers entering the market, hot competition for customers, and the larger retailers losing market share to mid-sized retailers and new entrants.

This result is further evidence that enhanced retail competition is benefiting consumers.”

New Zealand’s residential electricity prices also compare favourably internationally. Based on 2013 results (the most recent data from the International Energy Agency) New Zealand’s residential electricity prices are lower than for 19 OECD countries, and are close to the OECD average.

Mr Hansen says “The Electricity Authority’s ongoing focus remains on increasing competition in the market, so there is more and more pressure on electricity generators and retailers to minimise costs and keep prices as low as possible.

It’s still vital for all consumers to actively consider their electricity options and keep shopping around for the best deals, that’s the best way to make sure all electricity retailers keep their prices as sharp as possible. Consumers can check their options at www.whatsmynumber.org.nz(external link).”

For more information:

Nicky Chilton
Communications Manager
021 321 831