Retailer default customer support

From 27 June 2022, Platinum Power Retail Limited can no longer supply electricity to its customers. If you are a customer of Platinum Power Retail Limited you will need to switch to another company.

From 27 June 2022, Platinum Power Retail Limited will stop trading on the wholesale power market because it failed to keep up with its wholesale market payments.

 If you haven’t switched to a new retailer by 26 June 2022, the Authority will automatically transfer you to another power company and let you know. You can also switch to another retailer after this transfer by the Authority has been completed on 27 June 2022.

Either way, don’t worry, your power will not be disconnected as a result of Platinum Power Retail Limited not being able to be your retailer.

Frequently asked questions

How do I change companies?

We encourage you to visit the Consumer Powerswitch website to find available retailers in your area. It helps if you have a recent power bill.

Once you have found a new retailer, contact them by phone or online to arrange your switch. Alternatively, you can make the switch directly on Powerswitch.

Have your ICP number handy to help the process. Your ICP number will be noted on a power bill, or you can go to the My Meter page. 

When do I need to do this by? Who will do this for me?

You have until 25 June 2022 to do this. After this time, if you have not switched we will automatically switch you to a new retailer and let you know. This is part of our published process for when a retailer goes into default.

In the meantime, you are still responsible for paying your bills for power supplied. You will receive a final bill from Platinum Power Retail Limited and eventually a first bill from your new company.

I am a medically dependent consumer: will I be looked after?

You will need to call your new retailer and alert them to your situation or get a friend or helper to do so. The new company may have a set-up process and need you to show a medical certificate.

Have your ICP number handy to help the process. Your ICP number will be noted on a power bill, or you can go to the My Meter page.

Your power will not be disconnected as a result of Platinum Power Retail Limited not being able to be your retailer.

For more information for medically dependent consumers, see the section on our website.

The new retailer isn’t providing me with as good a deal – is this fair?

There are many different retailers in your area offering a range of power plans and options. We encourage you to grab a recent bill and spend some time assessing your options and what will suit you best.

www.powerswitch.org.nz/

I’ve tried changing to another retailer but they won’t accept me?

It is possible for a retailer to refuse to take on a customer, and in this case you should try another retailer. If you have not managed to sign up with a new company by 5pm on 25 June 2022, we will ensure you are assigned to one and they will be obliged to take you as a customer. This is part of our published process for when a retailer goes into default.

Could my power get disconnected?

Not as a result of this process. The industry has processes to ensure you remain connected – and you will also continue to be charged for the power you use, as normal. The situation might be different if you have not kept up with payments. You will continue to receive power bills and it’s your responsibility to pay them. You will receive a final bill from Platinum Power Retail Limited and eventually a first bill from your new company.

I’ve been disconnected, who do I talk to about reconnecting me – what should I do?

This would not have happened due to the default situation. This is more likely due to non-payment of a bill. (You will receive a final bill from Platinum Power Retail Limited that has stopped trading and eventually a first bill from your new company.)

Your retailer will help you get reconnected. Depending on your situation, you may not be able to contact the retailer you were with prior to being disconnected. You will need to sign up to an agreement with a new company to get your power back on. You can use Powerswitch to help you find a new deal. 

If you still need help, we suggest you contact Utilities Disputes 0800 22 33 40. They provide power consumers with independent advice and dispute resolution services.

I’ve paid a bond with the company when I signed up – will I get this money back?

You should look into the terms and conditions of your contract in the first instance and contact Platinum Power Retail Limited directly to discuss your options.

This is also covered by the usual consumer rights provisions for when a company stops trading.

See this webpage from the Ministry for Business, Innovation and Employment for further information.

What will happen with my automatic payments? Do I need to stop these or will this happen automatically?

You should ensure that any payments you make are going to the company that is supplying you with power. When you change companies, you will need to move your automatic payment to your new electricity company.

I’ve already paid in advance, how can I try and get my money back?

You should look into the terms and conditions of your contract in the first instance and contact Platinum Power Retail Limited directly to discuss your options.

This is covered by the usual consumer rights provisions for when a company stops trading.

See this webpage from the Ministry for Business, Innovation and Employment for further information.

Will I get charged a break fee if I switch?

You should look into the terms and conditions of your contract in the first instance and contact Platinum Power Retail Limited directly to discuss your options.

This is also covered by the usual consumer rights provisions for when a company stops trading.

See this webpage from the Ministry for Business, Innovation and Employment for further information.

Where can I get more information about this situation? 

You should try Platinum Power Retail Limited in the first instance. Alternatively, you can send an email to askus@ea.govt.nz or phone 0800 352 328 (Monday-Friday 9am-5pm). Either way, please give your ICP number to help the process.

Your ICP number will be noted on a power bill, or you can go to the My Meter page.

Who can I lay a complaint with about this situation?

If you have a complaint, we suggest you contact Utilities Disputes Limited on 0800 22 33 40, which provides power consumers with independent advice and dispute resolution services.

Why has this electricity company gone out of business?

This company has stopped trading on the wholesale power market because it failed to keep up with its wholesale market payments.

This has happened as a result of business decisions they will have made over a period of time. Like all companies in the electricity industry, they were aware of the risks and the need to manage their exposure to them.

It is normal in a competitive market for companies to start up in the sector and to leave the sector. The industry rules provide for people to be aware of the risks and for companies to have access to tools to help manage them and when a default occurs, for customers to be looked after.