Electricity plan shopping

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#2911255 7-May-2022 09:51

I'm on EK's Keep Ahead 200 Plan. I requested a months worth of raw data from them, which they supplied.

That month my breakdown looks like this (Using EK's Move Master price break points)

Off Peak: 22.71%
Shoulder: 42.18%
Peak: 29.89%
Hour of Power: 5.22%

I am estimating a 18% saving by moving to the Move Master plan (Taking into account the bonus $20 we get with every $200 top up).. without making any time shifting changes to what we do currently.

Looks like I am about to change plans..

Ge0rge

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#2911712 8-May-2022 21:43

I had a play around making a spreadsheet tonight to compare Powershop, whom we're currently with, to EK MM - basically because everyone else seems to be getting decent savings by moving. Used last months 30min data from PS.

If I don't do any management of Powershop - buying power packs, specials etc when advertised through the app - I'd be paying $0.3167 at any time:

Totals PowerShop EK

Daily Charge 21.39 34.1

Controlled 26.84 24.31

Uncontrolled 231.07 202.83

Total $279.30 $261.24

However, because I do manage the purchase through their app, what I actually paid last month is the equivalent of $0.2835:

Totals PowerShop EK EK (moving HW)

Daily Charge 21.39 34.1 34.1

Controlled 24.02 24.31 19.49

Uncontrolled 206.85 202.83 202.83

Total $252.26 $261.24 $256.42

Simply switching would have cost ever so slightly more last month.

The "moving HW" column works out how much I'd save by spending a few hundred getting a sparky in to fit a timer to the cylinder - quite the payback period for around $5 a month in savings - made significantly longer considering we turn the cylinder off once it starts getting cold, and use the wetback instead.

I haven't factored in an hour of power in the above, which would look to have saved me around $8.44 last month, and it doesn't take into account retraining SWMBO or the kid to do washing etc at certain times.

Hopefully I haven't missed anything, but it would seem it's not really worth changing for us - disappointing, I got excited seeing everyone else's savings!

(edit:formatting)

mooshroom369

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#2911721 8-May-2022 22:30

We recently changing to Contacts Good night plan despite them initially saying our meter wouldn't work.

If you can move a substantial amount of your kwh it is definitely worth it. We range from 25-45% per day in the free 3 hours with our monthly bill now being about 2/3rds of our previous amount for the same month. You just need to do some planning, be organized and using timers/smart plugs has helped.

Eva888

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#2911743 9-May-2022 08:27

mooshroom369: We recently changing to Contacts Good night plan despite them initially saying our meter wouldn't work.

If you can move a substantial amount of your kwh it is definitely worth it. We range from 25-45% per day in the free 3 hours with our monthly bill now being about 2/3rds of our previous amount for the same month. You just need to do some planning, be organized and using timers/smart plugs has helped.

It would be good if you could share the rate you pay and district for comparison.

timmmay

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#2911755 9-May-2022 09:14

Ge0rge:

The "moving HW" column works out how much I'd save by spending a few hundred getting a sparky in to fit a timer to the cylinder - quite the payback period for around $5 a month in savings - made significantly longer considering we turn the cylinder off once it starts getting cold, and use the wetback instead.

I haven't factored in an hour of power in the above, which would look to have saved me around $8.44 last month, and it doesn't take into account retraining SWMBO or the kid to do washing etc at certain times.

Hopefully I haven't missed anything, but it would seem it's not really worth changing for us - disappointing, I got excited seeing everyone else's savings!

I had my timer fitted about 5 years ago, so consider a longer timeframe.

I suspect you may have underestimated the savings as well:

Every day a 3kw hot water cylinder will cost 60c to run for an hour. Put that in the free hour and there's $19.80 per month. That avoids having to mess about with a wetback and switching things.
Have most of the hot water heating done off peak at half the normal rate. Assuming 2 hours of hot water heating per day that's about $10 per month. In practice you may use / save more.
Simple things like turning any heating on during the free hour or in off-peak times can save $1 per day
Using the clothes drier in the free hour can save $0.50 per time
Simply paying less during the day can save a bit if you're home during the day, particularly if you use electric heating at all

Small behavioral changes that turn into habits over time can make a big difference.

Ge0rge

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#2911762 9-May-2022 09:50

Thanks @timmmay, I appreciate your thoughts.

For us, our only heating is the fire. So effectively for 4-5 months of the year, our hot water heating is free via the wetback, and there's no other heating savings to be made. We don't have a drier and there is really only base load between 8 and 4 each day.

We do have a large freezer that I could put a simple timer on but I have always wondered if that in turn gives the food a hard time as the warm-cold cycles become longer. I guess if it was only off at peak time, there would be some small savings made. No light coming on when opened might panic the wife a bit...

Thinking on it overnight, it's probably close enough without making any changes that it's worth giving a go - while writing this now I realised that although hot water might be free in winter, the water pump isn't. Any appliance that uses water timeshifted has the extra savings of the associated pump costs too - including showering.

timmmay

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#2911763 9-May-2022 09:56

Maybe it won't make much difference for you given those factors @Ge0rge. Pumps won't use all that much power. I wouldn't turn a freezer off at peak time, power usage will be minimal.

mooshroom369

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#2911803 9-May-2022 11:51

Apologies, I am new to this. @Eva888 .

I have spreadsheets of all our electricty usage for the last 10 years so plugged the rates from different suppliers into our actual usage stats for 2019-2021 to check the bills/savings. Contact energy Good Nights figures showed we needed to move 12% of our power to free 3 hours to make savings. This did not take into account any price increases from our previous supplier. EK Movemaster was less favourable as were other suppliers.

Contact Energy Good Nights Low User rates (ex GST) for Central Otago

Fixed: 0.30c

KWH: 0.311c

Mkt Fee: 0.0013c

The washing machine, dishwasher, Hot Water (on solar during the day/wetback in winter), Heat pump and electrical devices that need charging only receive power during the free 3 hours. This works for us and provides us with more than enough of everything and a warm house- household of 4 including teenagers. I track it all on Home Assistant and certainly shows this was a very good option for us.

AklBen

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#2924591 10-Jun-2022 09:31

Octopus energy now here, it had been rumoured for awhile they'd turn up: https://octopusenergy.nz/

They've got a similar pricing model to EK's Move Master, no daily charge on low users, massive 17c buyback on solar

timmmay

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#2924595 10-Jun-2022 09:47

Octopus rates are good - about 10% lower than Electric Kiwi MoveMaster - but there's no free hour. They are probably a good deal for people who don't want to use timers.

Given I use 15 - 30% of my power in the free hour I'll stick with EK MM.

AklBen

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#2924599 10-Jun-2022 09:50

timmmay:

Octopus rates are good - about 10% lower than Electric Kiwi MoveMaster - but there's no free hour. They are probably a good deal for people who don't want to use timers. I can't find anywhere they define the house of peak / off-peak etc.

Given I use 15 - 30% of my power in the free hour I'll stick with EK MM.

Looks like peak is 7-10am and 5-9pm Monday to Friday. Offpeak is 11am-4pm, 9pm-11pm (and all day weekends) and night is 11pm-7am.

tdgeek

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#2924601 10-Jun-2022 09:54

timmmay:

Octopus rates are good - about 10% lower than Electric Kiwi MoveMaster - but there's no free hour. They are probably a good deal for people who don't want to use timers. I can't find anywhere they define the house of peak / off-peak etc.

Given I use 15 - 30% of my power in the free hour I'll stick with EK MM.

I ran my address on them this morning, they have same peak etc as EK but IIRC all weekend was shoulder and offpeak. Checking now, it seems the website is being hammered for the rates check (which shows the peak times etc)

Does EK MM have zero peak in weekends? EDIT seems not

AklBen

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#2924605 10-Jun-2022 10:02

What's interesting about the variable rates plans that are starting to become mainstream (other than in areas that have already had day/night meters for yonks) is that you've got to be into the gamified/do the work aspect of the pricing (for power companies it means that as a customer you're heavily engaged). Yes you can achieve great savings if you do the work, but if you don't, you end up paying the same or more.

timmmay

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#2924608 10-Jun-2022 10:11

AklBen:

Looks like peak is 7-10am and 5-9pm Monday to Friday. Offpeak is 11am-4pm, 9pm-11pm (and all day weekends) and night is 11pm-7am.

The weekend being off-peak is quite good.

AklBen:

What's interesting about the variable rates plans that are starting to become mainstream (other than in areas that have already had day/night meters for yonks) is that you've got to be into the gamified/do the work aspect of the pricing (for power companies it means that as a customer you're heavily engaged). Yes you can achieve great savings if you do the work, but if you don't, you end up paying the same or more.

For my address Contact is 19.6c/kwh all day, Octopus is 18c, EK MoveMaster is 21.1c, all ex GST. Looks like Octopus would be benefical for all, whereas EK MoveMaster you do need to be using the free hour and moving usage to outside peak to get the most benefits.

AklBen

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#2924611 10-Jun-2022 10:20

^ some of the recent plans that have come out (MM, Goodnights, Octopus etc.) are also plans which will be targeting EV owners without fully marketing towards them.

I get the feeling that the Octopus rates are likely to be promo rates, a mate of mine sent an interesting screenshot when quoting on the Octopus website which said to wait for their current retailer to shift them off their current fixed term so they are protected by the "Government's energy price cap".

Very interesting...basically saying don't switch now as our rates are likely to be more expensive as a new term??

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