Power-prices going up - impossible to compare untransparent offers out there

Forums › Off topic › Power-prices going up - impossible to compare untransparent offers out there

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tdgeek

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#3004315 1-Dec-2022 19:37

Rushmere:

I just got the same email.

Mine also says the average cost increase in my area is 98c per day. Based on my actual usage, I've calculated my actual increase will be about $1.23 per day. The total overall increase for me will be about 15.6%.

EK Movemaster was previously the cheapest plan for me, but the Contact Energy Good Nights plan would now save me about $15 per month. It's not a lot, but any saving is good. However, I'm not sure whether Contact have already raised prices, or if there is a rise to come. If it's the latter, then it could end up costing me more if I switch. I think I'll hang on and consider whether to switch next month.

My email (Movemaster ChCh) is 98 cents per day

Contact Energy or anyone, you would expect a similar email. OR, you can have OLD prices for the next 12 months....

I'll check Briscoes annual sale for blankets lol

Seriously though, we need to ask the question. I could get this in a climate change Winter, but 1 Jan??? Maybe a xx% increase when we use hardly any power is a buffer?

raytaylor

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#3004321 1-Dec-2022 19:57

Rushmere:

However, I'm not sure whether Contact have already raised prices, or if there is a rise to come.

I think someone posted that contact have already sent out price rise emails.
Mine stayed the same if I locked in for another 12 months so I went with it.

Ray Taylor

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raytaylor

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#3004332 1-Dec-2022 20:18

Have made a comparison spreadsheet if anyone is interested - see link below.

Ray Taylor

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Spreadsheet for Comparing Electricity Plans Here

insane

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#3004333 1-Dec-2022 20:18

I switched from Genesis to Frank as power + gas was $500 cheaper for the identical service (same parent company).

In reality it was looking that way, but then only a few weeks later they hiked gas prices by 18%. I thought that was called bait and switch tactics and seems borderline illegal.

The commerce commission fairly recently gave guidelines to BB providers to use less abstract plan names etc and be more transparent on pricing.

You'd have thought after the recent review that they would have done the same for power.

Wheelbarrow01

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#3004394 2-Dec-2022 00:56

tdgeek:

I posted my EK email on 2 other threads. Im not a spot price expert, but..

1. Inflation is 7% so if they want to pass on circa 7%, ok

2. 1 Jan is high Summer, I would have thought that spot prices would be at an all-time low, and they say the lakes are full, so why are my prices up 13%, 19% and 13%

(Peak, Off peak Shoulder and Off Peak Night)

I'm on the same Movemaster rates as you in Chch. I just checked out Mercury on a whim and they seem to have a very compelling offer for Chch residents on an anytime 2 year contract:

When I ran the numbers based on my October usage (811kW), extrapolated that out over a year, and factored in the 2% discount and $250 credit, I stand to save just over $900 in the first year when compared to EK's new rates. Second year won't have the $250 credit (knocking the saving down to $650) but also won't have any further price rise until late 2024. Worth considering...

tdgeek

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#3004416 2-Dec-2022 07:33

Wheelbarrow01:

tdgeek:

I posted my EK email on 2 other threads. Im not a spot price expert, but..

1. Inflation is 7% so if they want to pass on circa 7%, ok

2. 1 Jan is high Summer, I would have thought that spot prices would be at an all-time low, and they say the lakes are full, so why are my prices up 13%, 19% and 13%

(Peak, Off peak Shoulder and Off Peak Night)

I'm on the same Movemaster rates as you in Chch. I just checked out Mercury on a whim and they seem to have a very compelling offer for Chch residents on an anytime 2 year contract:

When I ran the numbers based on my October usage (811kW), extrapolated that out over a year, and factored in the 2% discount and $250 credit, I stand to save just over $900 in the first year when compared to EK's new rates. Second year won't have the $250 credit (knocking the saving down to $650) but also won't have any further price rise until late 2024. Worth considering...

Cheers Simon

I'll check our typical Summer bills and Winter bills. That the 18c + GST is basically Mercurys 24/7 charge vs only EK's Off Peak Night, says it all

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Rushmere

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#3004473 2-Dec-2022 09:33

Wheelbarrow01:

I'm on the same Movemaster rates as you in Chch. I just checked out Mercury on a whim and they seem to have a very compelling offer for Chch residents on an anytime 2 year contract:

When I ran the numbers based on my October usage (811kW), extrapolated that out over a year, and factored in the 2% discount and $250 credit, I stand to save just over $900 in the first year when compared to EK's new rates. Second year won't have the $250 credit (knocking the saving down to $650) but also won't have any further price rise until late 2024. Worth considering...

Thanks for that. I've been reviewing my options, but hadn't looked at Mercury.

The savings are a bit lower for me based on my last 6 months of usage, but it's still a saving. With the added bonus of 2 year fixed rates, plus the fact that I can pay less but use power at any time of day, it's very tempting.

JayADee

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#3006142 6-Dec-2022 07:27

insane: I switched from Genesis to Frank as power + gas was $500 cheaper for the identical service (same parent company).

In reality it was looking that way, but then only a few weeks later they hiked gas prices by 18%. I thought that was called bait and switch tactics and seems borderline illegal.

The commerce commission fairly recently gave guidelines to BB providers to use less abstract plan names etc and be more transparent on pricing.

You'd have thought after the recent review that they would have done the same for power.

Same here. Ouch. Now I need to do the whole comparison thing again when I get to it.

I even asked when I switched if there were any increases in the pipeline. Doh.

hamish225

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#3006167 6-Dec-2022 09:42

we switched to octopus from contact, due to our daily charge being put up over $3 per day. However when we signed up, the price turned out to be higher than the one initially advertised to us when we made the decision to sign up.

I did some more digging and noticed I was getting different prices (even when im already connected with them) when I looked on my mobile phone, on my home computer, on my husband's computer and on my work computer. Bizarre stuff.

I called them and respectfully said what the actual frig is going on here and requested them to fix it. They said they weren't sure why it was doing that and why we'd been put on a higher rate. Called them back and followed up, sent through screenshots. I noticed they've fixed my peak rate down to the advertised rate but the middle rate, the not peak, not night rate is still higher than it should be.

If they don't fix that too and get back to me as promised, I'll be making more of a song and dance about it.

If you provide people a quote, I don't' expect that quote to change based on the device I'm using or which way the wind is blowing, and then the resistance and CSR people playing dumb is doing my head in a little bit.

IF you do sign up with a power retailer, based on a cheaper price make sure you take screenshots of the quote and then check the prices they actually give you when you're connected. get ready for a fight too it seems and maybe try looking at quotes on different devices?

*Insert big spe*dtest result here*

jonathan18

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#3006342 6-Dec-2022 14:49

hamish225: IF you do sign up with a power retailer, based on a cheaper price make sure you take screenshots of the quote and then check the prices they actually give you when you're connected. get ready for a fight too it seems and maybe try looking at quotes on different devices?

I like the method used by Meridian, which is to send you a formal PDFd quote that’s valid for two weeks - this provides a clear reference point and an opportunity to check it for accuracy (and to use it as evidence if they pull a swifty on the rates they put you on!). I just realised, however, that one of the quotes doesn’t include mention of the $200 sign-up credit (while the other does, the only difference being low vs standard user), so definitely worth ensuring one has evidence of all aspects of an offer! (It’s in the accompanying email, so together they capture it all.)

insane

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#3010472 15-Dec-2022 20:28

insane: I switched from Genesis to Frank as power + gas was $500 cheaper for the identical service (same parent company).

In reality it was looking that way, but then only a few weeks later they hiked gas prices by 18%. I thought that was called bait and switch tactics and seems borderline illegal.

The commerce commission fairly recently gave guidelines to BB providers to use less abstract plan names etc and be more transparent on pricing.

You'd have thought after the recent review that they would have done the same for power.

Damn, now Frank are also putting up their power prices, and doubling the low user daily charge from $0.30 to $0.60 in Jan. Power shopping time again - still maintain their bait and switch tactics have been very suspect! They will be fully aware a good portion of customers will just take it lying down.

Frank Energy:

We get that nobody likes to hear their prices are changing. Like many other NZ industries, we are facing the rising cost of doing business, including things like network charges and wholesale energy costs. So while we’ve been able to hold off changing our standard pricing for more than a year, we’ve recently needed to review our rates. Your new prices are outlined below and take effect from 30 Jan 2023.

A Government-commissioned review of the electricity industry has encouraged changes to the plans power companies offer, with a view to make things fairer for all Kiwis. As a result, the low-user daily charge is being phased out for all energy retailers, gradually increasing each year until 2027. Find out more here.

You have been paying a daily fixed charge of 30c/day on your low user plan which is now changing to 60c/day from 30 Jan 2023. This plan is still the most economical plan for you if your usage is less than 8000kWh/year (or 9000 kWh/year for Lower South Island).

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Ragnor

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#3011234 17-Dec-2022 14:08

Yes also shopping again due to Frank price rise, for our usage it's +$20/month... sigh

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