Genesis Energy review
Diversified energy company Genesis Energy is New Zealand’s largest electricity and gas retailer, providing services for residential and business customers across the country.
Genesis Energy, which is publicly listed on the New Zealand stock exchange and the Australian stock exchange, with a 51 per cent cornerstone shareholding by the New Zealand government, was founded in 1999, following the split of the Electricity Corporation of New Zealand.
Genesis Energy sells electricity, natural gas and LPG through its retail brands (Genesis Energy and Energy Online), and generates electricity, and trades electricity and natural gas, through its generation business.
Genesis Energy states that it “is focused on attracting and keeping valuable residential, commercial and industrial customers throughout the country”.
“The convergence of digital applications, low-cost solar and the development of battery storage is gaining pace and is leading to greater choice, convenience and control for our customers,” Genesis Energy states. “We are rethinking, refreshing and reimagining how we use energy in everyday life.”
What’s on offer from Genesis Energy?
Genesis Energy offers a number of residential energy options, with consumers able to check plan rates via its website’s interactive map, and able to sign up online.
Genesis Energy’s residential electricity pricing plans comprise its:
- Classic Plan: which Genesis states is its low fixed-charge plan, generally the most suitable plan for customers who use 8,000 kWh or less of electricity each year (9,000 kWh or less for lower South Island customers)
- Household Plan: which Genesis states is generally the most suitable plan for customers using more than 8,000 kWh of electricity each year (more than 9,000 kWh for lower South Island customers)
“Both of these plans are made up of a daily fixed charge and a variable charge or charges,” Genesis Energy explains. “A variable charge is the cost of the amount of electricity you use, whereas the daily fixed charge covers the fixed cost of supplying energy to your property. You can have different variable charge(s) depending upon the type of meter you have.”
Genesis Energy offers both fixed-term and flexible residential energy plans, which provide customers:
- Fixed prices during the 12-month plan
- 10 per cent prompt payment discount on every electricity and natural gas bill, as customers will always be paying in full and on time with direct debit
- Bills by email
- No contract or exit fees
- 10 per cent prompt payment discount
- Flexibility to move between addresses
For customers with both electricity and natural gas together, Genesis Energy’s Dual Fuel contract provides an additional 2 per cent prompt payment discount, for a total of 12 per cent off a Dual Fuel bill when paid in full and on time.
Genesis Energy additionally provides its customers with its Price Plan Check service, designed to make sure that customers are on the most suitable pricing plan for their energy needs, with notifications sent to customers between October and December each year.
“Each year we’ll let you know how much electricity you’ve used in the previous 12 months and what our plan options are – so you can decide if you’re still on the most economical pricing plan for your home,” the company says.
Genesis Energy also offers a range of solar packages for consumers in selected areas, with eligible consumers able to request an estimate or book a home visit via the Genesis website.
Genesis Energy’ HomeGen offer, meanwhile, is for residential customers who generate their own electricity (such as by solar), with less than 10 kW output, who wish to sell the electricity they don’t use back to the grid.
Genesis Energy provides a range of information via its website’s FAQs section, catalogued under different topics, with consumers also able to search the Genesis website for specific topics.
Consumers can contact Genesis by phone and email, and also have the option of submitting a message via the Genesis website. Genesis is also active on social media website Facebook.
“At Genesis Energy we believe we have a responsibility to our customers to ensure that we meet their electricity and gas requirements, as well as provide them with first-class customer service,” the company says.
Genesis Energy provides customers with a range of account management and monitoring tools via its My Account service, which customers can register for and login to via the Genesis website.
Via My Account customers can:
- Manage bills and payments
- Add properties and energy types (electricity, natural or bottled gas)
- Organise moving house or premises
- View and graph energy usage
- Enter a meter read to get an updated bill
Customers who register for My Account can also login to the Genesis Energy Mobile App, available for Android and iOS devices.
The app provides functions including (with certain functions requiring a smart meter):
- View electricity usage and get an estimate of what an electricity bill is likely to be
- See past hourly, daily and monthly electricity usage
- Pay bills by credit or debit card and set up recurring card payments
Genesis Energy’s invoice payment options comprise via:
- My Account, by credit card or automatic payment
- Genesis mobile app, by credit card
- Control-a-bill, allowing customers to spread their energy payments out evenly, paying by direct debit weekly, fortnightly or monthly
- Internet banking
- Automatic payment, paying a fixed amount weekly, fortnightly or monthly
- Phone, by Visa or MasterCard
- In person at an NZ Post shop