Electric Kiwi Pricing Up 14%

Forums › Home Workshop DIY › Electric Kiwi Pricing Up 14%

tdgeek

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#289488 8-Sep-2021 18:23

Ok, its only on usage not daily, but its quite a hike. If all the other power "companies" increased by this margin Id ignore it and suck it up. I enjoy the daily hour of free power, but I may check other providers (even though Id rather stay with EK)

Existing From 8th October 2021 Fixed cost per day: 0.32 0.32 Usage cost per kWh: 0.2437

0.2786

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#2774755 8-Sep-2021 18:31

Daily charge went up for us in Wellington as well. They put prices down 6 - 12 months recently when they could. I'm happy with EK.

Existing: $2.04 per day, $0.1741 per kwh

New: $2.19 per day, $0.2001per kwh

tdgeek

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#2774758 8-Sep-2021 18:36

timmmay:

Daily charge went up for us in Wellington as well. They put prices down 6 - 12 months recently when they could. I'm happy with EK.

I recall they went down not that long ago, and I am VERY happy with EK. I did see see a news article or maybe on here of other "power" companies having free time (not the Genesis once a month free for all) but maybe I need to bone up on the latest offerings. I might check solemn others, and hopefully some may post here then Chat with EK. I put loyalty above price, but I do need to check the recent lay of the land.

MaxineN

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#2774759 8-Sep-2021 18:36

I think I got the better end of things.

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tdgeek

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#2774761 8-Sep-2021 18:38

MaxineN:

I think I got the better end of things.

Ok, Im moving in, I'll pack my gear tomorrow!

Location? Im in Aidanfield, ChCh

Mehrts

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#2774762 8-Sep-2021 18:42

Over $2 per day, is that really the daily rate?!

MaxineN

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#2774763 8-Sep-2021 18:43

tdgeek:

MaxineN:

I think I got the better end of things.

Ok, Im moving in, I'll pack my gear tomorrow!

Location? Im in Aidanfield, ChCh

Are you sure you want to put up with 2 ladies (me and my fiancée) complain about our Merivale apartment with single glazing, inconsiderate neighbours and construction work at 3AM?

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tdgeek

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#2774771 8-Sep-2021 18:55

Mehrts:

Over $2 per day, is that really the daily rate?!

Yeah thats huge

dolsen

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#2774775 8-Sep-2021 19:00

Looking at the long term wholesale price of electricity over the last few years vs earlier years, the price is / has been much higher than say 4 years ago.
Increased wholesale pricing would flow through to increase the price of their hedging. To be honest, I'm surprised it hasn't increased earlier.

timmmay

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#2774776 8-Sep-2021 19:02

Mehrts:

Over $2 per day, is that really the daily rate?!

Yeah that's normal in Wellington. Our kwh prices tend to be a little lower.

RunningMan

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#2774777 8-Sep-2021 19:02

Mehrts:

Over $2 per day, is that really the daily rate?!

@Mehrts higher usage plans will have a higher daily charge ($2 ish) and lower price /kWh. Low usage plans will have a lower daily ($0.2 ish) and higher price /kWh. The crossover point where you should be on a low or high plan is usually around 8000 kWh/year.

MaxineN:Are you sure you want to put up with 2 ladies (me and my fiancée) complain about our Merivale apartment with single glazing, inconsiderate neighbours and construction work at 3AM?

@MaxineN Most people I know do their complaining during the day, not at 3am!

Mehrts

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#2774779 8-Sep-2021 19:12

RunningMan:

Mehrts:

Over $2 per day, is that really the daily rate?!

@Mehrts higher usage plans will have a higher daily charge ($2 ish) and lower price /kWh. Low usage plans will have a lower daily ($0.2 ish) and higher price /kWh. The crossover point where you should be on a low or high plan is usually around 8000 kWh/year.

Yea I knew about the low/standard user threshold, however I never looked at the rates for the standard user charges, that's why I was so surprised it was that high!

Don't get me started about natural gas mains daily rates though 😅

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#2774980 8-Sep-2021 21:52

Yeah I got the email from EK too, this is the second price increase this year.

First increase May 2021:

Today’s email:

I was looking to move already, today’s increase just sealed the deal so I’ve initiated a switch to a different retailer

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#2774983 8-Sep-2021 22:11

Its worth shopping around - I went from Meridians EV plan and managed to secure something cheaper (Contact on either their everyday low rates or their 9-12PM free plan). Took a lot of shopping around (I had a spreadsheet of 10+ retailers/pricing plans), most retailers have increased their prices...

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#2775010 8-Sep-2021 23:00

They explained online recently why they pulled the tv advertising and marketing

Don't want new customers. Like others. And also removed themselves from the powerswitch site as a result

Claimed the wholesale market is not in anyone's favor and taking on new ones mean they can't pass on the same pricing. or would increase their per-user costs. By the looks, that's kinda true. And presumably if they stayed, along with these increases would no longer make them look like a good alternate anyway.

https://www.tvnz.co.nz/one-news/new-zealand/electricity-prices-getting-less-competitive

https://www.stuff.co.nz/business/125816041/flick-electric-stops-taking-on-new-customers-in-blow-to-power-competition

michaelmurfy

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#2775018 9-Sep-2021 00:26

Mine:

Earlier on this year:

So my costs have gone up rather considerably and I also use quite a bit of power (about $300/mo). I'll be personally pricing up other providers.

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