Is your power bill the lowest since 2015?
Is your power bill the lowest it’s been since 2015? The The average annual household power bill is down $126 since 2015 in real terms, according to MBIE’s latest data release. Kiwis now enjoy the 6th lowest power prices in the OECD, Electricity Retailers’ Association Chief Executive Cameron Burrows says.
"The average annual power bill in the year to September 2020 was $2,113-down from $2,239 in 2015. Average power bills in 2020 have been the lowest in more than 10 years.
"Residential power use rose in 2020 - likely due to New Zealanders staying home during the Covid lockdowns. Despite this, annual bills have stayed low - largely because the unit price of electricity is lower than it has been since 2012.
"The latest figures from the OECD show the price for electricity here in New Zealand is now the 6th lowest in the developed world.
"That’s a significant vote of confidence in New Zealand’s electricity sector which, as well as keeping prices low, is delivering renewable, highly reliable electricity for Kiwis.
"Strong competition between electricity retailers is helping to keep prices down. There are now over 30 power companies meaning we’ve got the most competitive market ever, and everyone’s working hard to keep customers and gain new ones. That’s a great incentive to keep prices low.
How does your power bill compare?
If you feel that you are paying too much for power, here are some tips to help lower your power bill. This is also a great time to compare your options to make sure you are on the best plan for your home. There are lots of innovative choices when it comes to power – plans like that offer a free hour of power and guaranteed savings, bundled plans, or generous joining credit.
Compare power plans with Power Compare, or if you’d prefer to talk, our team of friendly Comparison Consultants are ready and waiting to chat through the options.
Give us a call on 0508 226 672