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kiwitrc

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#999974 6-Mar-2014 09:20

rayonline:
kiwitrc: I am on Genesis in Tawa and pay $1.01/day , maybe I better sign up for the 2 year deal with Genesis after all!

I asked about something similar in the past and they said that there are fineprints around when rates can still be altered within reason.

I went ahead an locked the price last week, I did it over the phone as I couldnt find the letter they sent me, I had to read the T&C's but nowhere did it say they could up the price. Short story got the letter today saying the line charge was going up from 101 to 183.91, rang them this morning to ask what the story was and they confirmed I have got a locked price for 2 years (cross over between setting my fix and the increase letters going out) at 105.55 line charge, Day rate of 23.1 and night rate 11.77

timmmay

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#1000033 6-Mar-2014 11:19

I just got something similar from Meridian. Prices are going up 95c/day but down 2.5c/kwh. That means I'll pay around $30/month more in fixed charges but at my June usage $27/month less in power usage. All in all it balances out ok, I may pay less in winter but more in summer.

dwl

371 posts

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#1000073 6-Mar-2014 12:07

kiwitrc:
rayonline:
kiwitrc: I am on Genesis in Tawa and pay $1.01/day , maybe I better sign up for the 2 year deal with Genesis after all!

I asked about something similar in the past and they said that there are fineprints around when rates can still be altered within reason.

I went ahead an locked the price last week, I did it over the phone as I couldnt find the letter they sent me, I had to read the T&C's but nowhere did it say they could up the price. Short story got the letter today saying the line charge was going up from 101 to 183.91, rang them this morning to ask what the story was and they confirmed I have got a locked price for 2 years (cross over between setting my fix and the increase letters going out) at 105.55 line charge, Day rate of 23.1 and night rate 11.77

This is a confusing saga. I didn't bother with with the 2 year locked rate as it was noticeably higher (4.5%) than what I was paying but now that the increases have been revealed I am now quite hacked off I didn't.

We are on day/night scheme and about half our usage is at the night rate (hot water on timer, heat pump) so I have calculated new figures which are sobering when adding in the locked prices - these are ex GST prior to prompt payment discounts:

For us at around 9000 units per annum with 50/50 day/night this 12.9% rise is massive. Also note that on the new rates the night kWhr rate has increased despite the daily rate also doing a massive rise.

Having seen the post above I started to assume the worst, that Genesis had sent out an offer of fixing, which didn't mention the rise that was being planned (seems unlikely they didn't know magnitude), and that offer may now have expired.

My good news is Genesis are still honouring the locked in offer and the rates they have just given me on the phone are identical to the post above. I got the same assurance that they absorb any line charge differences. There is a break fee if moving from Genesis within the 2 year period but the fee is less than a months charges so I have signed up to fixed.

I strongly encourage others to check their situation and options. Also watch out whether you might be better off under low user if under 8000 kWhr/yr. Many thanks to the topic starter and other contributors for getting this discussion going as there is over $300 saving for me over 2 years (unless prices drop).

sbiddle

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#1001976 10-Mar-2014 08:28

We got a letter from Meridian on the weekend saying that the previous letter saying they expected out power bill to increase by 4% was incorrect, and that our power bill would actually be dropping.

dwl

371 posts

Ultimate Geek

#1003083 11-Mar-2014 23:22

From Morning Report today - http://podcast.radionz.co.nz/mnr/mnr-20140311-0826-wellingtonians_warned_to_be_wary_of_electricity_price_offer-048.mp3 - "Genesis Energy has confirmed it's not allowing customers to freeze their prices at the moment. The other major retailers couldn't be reached for comment."

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