Consumer NZ just sent out its winter reminder that many consumers would save money by comparison shopping for their electricity.
The headline on their release claimed: NZ households could save $388 on average by switching energy plans.
But the release noted, “Annually, only 20% of households switch. The majority of those are people moving homes, with only 6% of households switching for a more competitive rate.”
As a result, the official Electricity Price review estimates that electricity retailers – companies like Contact, Genesis, Meridian, Mercury etc – could be earning as much as $39 million in extra revenue because consumers aren’t on the best plan.
In the past 12 months, we paid about $3,200 for electricity, with two persons at home, solar-assisted hot water, a heat pump used sparing in winter for our kitchen/dining area, a couple of space heaters, and my wife’s hair dryer. Our stove uses bottled gas. A fairly moderate operation, all in all.
Both comparison services indicated significant savings were attainable over our current provider and offered multiple alternatives.
So, yes, I made the switch.
Smart move? If you can’t trust Consumer NZ …?!
Ask me in a year how this turned out! That’s when I’ll announce the winner and loser.