Electricity Price Increases

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alisam

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#323922 3-Feb-2026 17:36

My Mercury plan will increase on 5th March 2026 by (including GST):

Per Day: +28.21%

Per kWh: +9.98%

I have been looking at powerswitch.org.nz. A few retailers e.g. Contact, have a price increase in the wings, but there are no dates I can find on the Contact Web Site or powerswitch.

It's a bit hard to plan ahead.

(Current inflation percentages appear to be irrelevant to a lot of companies (not just Power Retailers) nowadays). The Government has a knack of increasing their own benefits by the inflation rate percentage.

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#3458471 3-Feb-2026 17:47

We also got the price increase notification email from Mercury.

Daily charge: +28%

Day units: +12.4%

Night units: +15.1%

Looking at other suppliers, they still look to be our best option, certainly not enough of a difference to bother changing.

mattwnz

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#3458472 3-Feb-2026 17:49

It seems crazy that prices can increase so much and so much more than inflation. Kind of shows the issue of going to clean green via EVs and heating after converting from gas. Guess we get what we sow by allowing governments to sell large parcels of our electricity sector, so shareholders get what would have otherwise gone back into the grid or keeping prices down. I remember when we had some of the cheapest power prices. I am amazed at how much cheaper power seems to be in parts of the US now compared to NZ.

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#3458473 3-Feb-2026 17:55

My Genesis pricing just increased this month

geek3001

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#3458525 4-Feb-2026 07:40

Me too, on Mercury.

From 05 March:

Daily fixed charge up by 15%.
Variable per kWh up by 12%.

My annual power bill will likely go up by over $400.

Largest annual price increase ever in all the time been with Mercury since the 1990s. Literally never had a double-digit percentage increase in the past.

Quick check with Genesis, Meridian and Contact using their "join us" quotes on their website, their quoted prices for 12 months is even more expensive.

Checked Mercury's "join us" quote, and that was 10% more (!!!) than my present increase, which leads me to wonder if there are more increases in the wings.

sen8or

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#3458526 4-Feb-2026 07:57

Our Genesis rates also changed, we were on their weekender rate with offpeak rates applying all weekend as well as nights, the offpeak rate has jumped to about 22c and is really not that much less than peak now. We did think about switching, but seems they are all doing it together, almost cartel like in their timing........

antoniosk

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#3458528 4-Feb-2026 07:59

Mine are (in Wellington):

Daily Charge - $1.9293 -> $2.01 = $0.0807 (a 4% increase)

Anytime - $0.1985 -> $0.2056 = 0.0071 (3.6% increase)

If you were on better prices, good on you for benefitting from cheaper rates for so long. I once had 4.9c/kwh for gas from Genesis for the longest time until I didnt.

Seems much of a muchness wherever you go in terms of rates, and the better pathways are reducing consumption where possible = items that draw less power, sealing the house against heat loss, and looking for more effective ways to not use the central system (solar if its an option).

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Behodar

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#3458529 4-Feb-2026 08:16

No increase here yet but it's bound to happen...

I was watching a video (albeit from the US) the other day about how grid-connected solar should gradually make power costs cheaper. Is that likely to happen here? I see that there's a solar farm not far from my town, but I can't find any batteries so it's either unfinished, or more likely, they've done half the job and decided that's good enough.

CYaBro

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#3458540 4-Feb-2026 08:33

I just locked in for another 12 months with Genesis at the end of last year. (And they gave a $50 credit out of the blue)

Was an increase in kWh rates from what we had for the 20 months prior to that but as we now have solar we were able to switch to a low user plan so daily charge dropped from $2.20ish to $1.38.

kWh rates went from Day $0.2530 and night $0.1265 to $0.4050 and $0.2025.

If I do a quote on their website now the daily charge is $1.6733 with day rates $0.4346 /kWh and night rates $0.2171 /kWh.
We have an EV so able to get half price night rates, plus home rates at ChargeNet chargers.

Genesis seems to always come up cheapest for our address when I look at others.

Will have to look again in a year at providers with a better solar export rate now that we are able to export up to 10kW.

Opinions are my own and not the views of my employer.

wellygary

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#3458550 4-Feb-2026 08:50

There are a truckload of moving parts in these increases, but underlying is the gradual phase out of low user daily charges which the last government enacted from 2022

https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/energy-consultations-and-reviews/electricity-price/mid-point-review-of-the-phase-out-of-the-low-fixed-charge-lfc-regulations

Then there are the local lines companies and Transpower upping their charges to beef up the lines for all the "electrification" that is coming down the line

https://www.nzherald.co.nz/business/companies/energy/commerce-commission-approves-lift-in-power-transmission-charges/ITCJSO7SXNCYPION67WUA3JVLA/

The cost of generating the electrons is only about 50% of the cost

https://www.ea.govt.nz/your-power/bill/

cddt

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#3458562 4-Feb-2026 09:12

mattwnz:

It seems crazy that prices can increase so much and so much more than inflation. Kind of shows the issue of going to clean green via EVs and heating after converting from gas. Guess we get what we sow by allowing governments to sell large parcels of our electricity sector, so shareholders get what would have otherwise gone back into the grid or keeping prices down. I remember when we had some of the cheapest power prices. I am amazed at how much cheaper power seems to be in parts of the US now compared to NZ.

Yep. For many years the "gentailers" have delivered four or five dollars in dividends to shareholders for every dollar invested in new generation. And this during a time of unprecedented population growth.

kiwiharry

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#3458653 4-Feb-2026 12:35

I got the price increase email too from Mercury taking effect on 05 March, but my increase was significantly less than the OP's. 2.05% increase for daily charge and 1.1% increase per kWh.

My new rates will be $2.34 daily charge and $0.1881 per kWh (all ex GST). I'm in Auckland.

In saying that, I also had an increase last year on 30 June, 8.3% increase for daily charge and 19.2% increase per kWh, therefore 2 price increases within a calendar year.

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nitro

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#3458670 4-Feb-2026 13:15

antoniosk:

Mine are (in Wellington):

Daily Charge - $1.9293 -> $2.01 = $0.0807 (a 4% increase)

Anytime - $0.1985 -> $0.2056 = 0.0071 (3.6% increase)

If you were on better prices, good on you for benefitting from cheaper rates for so long. I once had 4.9c/kwh for gas from Genesis for the longest time until I didnt.

Seems much of a muchness wherever you go in terms of rates, and the better pathways are reducing consumption where possible = items that draw less power, sealing the house against heat loss, and looking for more effective ways to not use the central system (solar if its an option).

to some extent, it is higher than inflation due (i think) to increasing demand and stagnant supply.

from my point of view (also in wlg), you're one of those on better prices. you're pretty much moving into the rate i've been paying before the upcoming increase (1 April).

what's confusing me is why/how the rates change between houses. yes, there's the difference in amount consumed, etc. more specifically, mine is increasing to $2.16 (daily) + $0.2222/kWH (anytime rate). i punch in my next door neighbour's address and the offer is for $2.6565 (daily) + $0.2737/kWh (anytime rate) or $0.2242/kWh (controlled). the difference in daily charge alone would cost him roughly $15 extra each month.

geek3001

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#3458688 4-Feb-2026 13:45

kiwiharry:

In saying that, I also had an increase last year on 30 June, 8.3% increase for daily charge and 19.2% increase per kWh, therefore 2 price increases within a calendar year.

Mercury have told me that fixed price plans for an agreed period of time are a thing of the past, for now at least, and that they will now provide 30 days notice of any price change*.

We could see multiple price changes* per year, perhaps quarterly, or even more frequently.

*I say price change as Mercury suggested that should wholesale prices decrease, there is a small chance what they choose to bill us may go down. I won't be holding my breath though.

Basil12

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#3458766 4-Feb-2026 15:33

nitro:

what's confusing me is why/how the rates change between houses. yes, there's the difference in amount consumed, etc. more specifically, mine is increasing to $2.16 (daily) + $0.2222/kWH (anytime rate). i punch in my next door neighbour's address and the offer is for $2.6565 (daily) + $0.2737/kWh (anytime rate) or $0.2242/kWh (controlled). the difference in daily charge alone would cost him roughly $15 extra each month.

Some of that might be the meter set up. We have three meters in one - day, night and hot water - which might have a different rating factor to someone with a simpler setting.

I refer to them being three meters as it was three physical meters before going into a single smart meter.

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nitro

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#3458778 4-Feb-2026 16:22

Basil12:

Some of that might be the meter set up. We have three meters in one - day, night and hot water - which might have a different rating factor to someone with a simpler setting.

I refer to them being three meters as it was three physical meters before going into a single smart meter.

perhaps if they were different plans (controlled rate, etc.), but i was only looking at the daily + anytime rate.

and the daily rate is defined as the cost to supply electricity to the property. why would that be different in the same locale?

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