P2Power - just switched

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E3xtc

655 posts

Ultimate Geek

# 209135 14-Mar-2017 09:45

So switched over to P2power (www.p2power.co.nz) - after being with Meridian for ages...P2, offer a better buy back (for the first 50Kw per fortnight), and then slightly better/similar rates for retail power rates...end result was when comparing, there was no real reason to stay with Meridian...Was painless and quick to switch over.

Anyone else with them?

Aredwood

3885 posts

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# 1736593 15-Mar-2017 00:27

It says that the premium solar buy back rate is 16c / unit. Yet they will on sell that to non solar customers at 14c / unit. So I don't get how they intend to make money by selling power at a loss. Unless they have on purpose programmed limits into their system to cap the amount of power directly matched between customers. But that then removes their main benefit. As the prices for non matched power are nothing special.

I have been quoted cheaper rates by Pulse energy. Power shop are currently advertising that they will guarantee that you will save money with them. And I'm on a plan with Flick electric that is often less than 10c per unit for off peak power. And less than 20 people in all of Auckland are on that plan.

But then I don't have solar PV on my house. Agree those rates are good if you do have solar PV.

The most interesting part is that they seem to have found a way to avoid paying Vector lines charges. Yet there was nothing about it in the most recent pricing disclosure from Vector, that was released less than a month ago. Unless they are just eating the cost of the lines charges. And therefore making a really big loss.

neb

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# 1736815 15-Mar-2017 12:31

Aredwood: It says that the premium solar buy back rate is 16c / unit. Yet they will on sell that to non solar customers at 14c / unit. So I don't get how they intend to make money by selling power at a loss.

They sell at a loss, but make up for it in volume.

E3xtc

655 posts

Ultimate Geek

# 1736821 15-Mar-2017 12:53

plus the premium rate is only for the first 50kwh per fortnight - and then the rate steps back down to the industry standard....

But, yeah I am sure there are better/cheaper ways to get rates (eg Flick Powershop etc), but for me, they quickly fall into the cbf bucket - can't be arsed managing power - so that leaves my options with the main "standard" providers that do flat type rates...so for me the move from Meridian to P2 was a no brainer - its not a massive difference tbh, but hey I figured I would support a new player that had some different ideas (disrupt the market maybe and get some of the larger players to think outside the box).

networkn

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# 1736848 15-Mar-2017 13:21

neb:
Aredwood: It says that the premium solar buy back rate is 16c / unit. Yet they will on sell that to non solar customers at 14c / unit. So I don't get how they intend to make money by selling power at a loss.
They sell at a loss, but make up for it in volume.

Ahem, if you do higher volume of loss-making activities, you lose MORE money.

neb

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# 1736849 15-Mar-2017 13:22

networkn:
neb:
Aredwood: It says that the premium solar buy back rate is 16c / unit. Yet they will on sell that to non solar customers at 14c / unit. So I don't get how they intend to make money by selling power at a loss.
They sell at a loss, but make up for it in volume.

Ahem, if you do higher volume of loss-making activities, you lose MORE money.

Whoosh.