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Can I get Power Credits? Energy Hardship Schemes in NZ

Can I get power credits in NZ this winter? With Power Compare
Tuesday, April 2, 2024

As Kiwis continue to feel the pinch of rising costs and inflation, more may find that they are struggling with their power bills. 

In light of the phasing out of the Low Fixed Charge Tariff regulations, New Zealand households will gradually all have a more fair playing field for their power bill. This 5 year phase-out is designed to create long-term benefits for households. However, some households may face higher power bills. 

If you find that you are struggling with your power bill, you may want to consider contacting your power provider to see if you can make use of the power credits scheme. 

Power Credits Scheme

To support low-use households who struggle with paying their power bills, the government has set up a $5 million power credits scheme to roll out during the phase-out of the Low Fixed Charge Tariff regulations. This scheme was introduced to help households experiencing energy hardships, and those who have been on a low-use plan within the last 6 months. This scheme began in June 2022. 

Who is Offering It?

There are several energy retailers currently participating in the scheme. 

How does it Work? Am I eligible?

For customers who are struggling to pay their power bill, and are on a low-use plan, or have been in the last 6 months, may be eligible for a $110 credit from their retailer towards their energy bill. 

Kiwis can even receive up to 2 power credits per year. You may be eligible for a second credit in the same year if you have received professional budgeting advice. It may be worth contacting your power provider to chat to them about your eligibility. 

The funding for the power credits scheme comes from the Electricity Networks Association and the Electricity Retailers’ Association of New Zealand. 

To see if you are eligible for the power credits scheme, NZ Compare recommends that you chat with your energy retailer. The power credits scheme may be able to help ease some financial hardship and help reduce some of the costs for your household

Don’t forget to compare your power bill 

Comparing your power bill is a powerful way to unlock savings! Power Compare makes it easy to compare different power plans and providers available to you so that you can find a deal that best suits your household needs – why pay more, when you can make savings? 

Compare Power Today!

Further Reading: 

6 Tips for Saving Power in the Home

Mastering the Art of Budgeting: 6 Tips for a Budget

Shedding Light on the Benefits of Solar Power

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