New Zealand power prices are at their highest levels in over a decade. The most expensive prices that New Zealand residents have had to pay for electricity is 29c per kWh (which was in 2015).
So how do you think New Zealand power prices compare with the rest of the world? Are we paying more or less? We take a look at what people from across the globe are paying for their electricity compared to New Zealand residents.
Furthermore, if you’re not happy with the electricity prices you are currently paying, we’ll show you how to compare power companies to reduce your electricity bill.
Data on New Zealand power prices can be found on government websites such as the Ministry of Business, Innovation and Employment (MBIE). They release an annual publication for consumer-related information such as average petrol prices, gas prices, and residential electricity prices.
One report they released is an international comparison report for energy statistics. This report looks at power price comparisons with other OECD countries, taking into account Purchasing Power Parity (PPP), showing an average total cost of electricity at US$179.50 per MWh. New Zealand, however, was above the global average with a total average cost of US$197.10 per MWh for 2016.
According to the international comparison report, the country with the highest average electricity cost was Greece. Purchasing power is determined by the cost of living and inflation rates which, for Greece, is incredibly high compared to the rest of the world.
There is a large disparity with the cost of living versus what people earn in Greece and this contributes to the large PPP for electricity prices. The international comparison report states that Norway has the cheapest electricity prices of all the OECD countries. Why is this? The terrain in Norway makes it a perfect place to harness hydroelectricity, which generates 99 per cent of Norway’s electricity.
Hydropower is environmentally friendly, sustainable and cheap to run, while the amount of electricity generated is surplus to what is required for Norwegian residents. These factors explain why they pay a lot less than the rest of the OECD countries listed.
The great thing about living in New Zealand is that if you aren’t satisfied with your power provider, you have plenty of choice in switching! Many New Zealanders compare electricity prices on a yearly basis and change providers, as switching power providers is the number one way of lowering your electricity bill.
Even if you can manage to reduce just $20 from your monthly electricity bill, that’s an annual saving of $240. Compare power prices NZ wide and see if you can shave valuable dollars off your electricity bill.
At glimp, we help New Zealanders all over the country find the best electricity deals around. Try our Power Comparison tool today.
What is the average internet bill in New Zealand? Do the prices justify the speeds and technology offered by providers? Here’s ...
Lots of interesting stories out on the road today. From a significant pushback against combustion engine phase out in the EU, t...
I’ve just had a great experience with Kurt from glimp compare. He helped me through the process from the time I clicked onto the website, via the chat function. Long story short I have signed up to a new power and broadband provider with significant cost savings. There was no pressure at any stage, just respectful guidance and facilitation to initiate the new supply.
Easiest service to use and knowledgeable and experienced staff. Made switching power and broadband stress free! Thanks Jamie S, they answered all my questions I had about starting a new connection for broadband and power - even better than calling Slingshot direct as I got 3 months free internet and credit for using my own modem :)
Virtually instant contact after filling out online form. Great rep - friendly and informative, great deal made for cheaper power, overall so far so good 😁
Used Glimp to get a better deal on gas/power Jamie S made things very easy and was super helpful. Would definitely recommend