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Powershop Review

Powershop is an online-operated power company, offering flexible payment options, and a suite of website and mobile tools to help customers monitor their energy usage and potentially save money. Powershop has been around since 2009, and is part of Meridian Energy, which, in turn, is the country’s biggest power generator and majority-owned by the government.

Powershop has dominated Canstar Blue’s customer satisfaction ratings for power companies in New Zealand over the years, winning eight times, since 2011. It is also the current award winner, for 2021. But what exactly do you get with Powershop, and what sets it apart from the many other electricity providers in NZ?

What does Powershop offer?

Powershop sells electricity in bundles of various sizes and prices, called Powerpacks. These packs are designed to let customers buy power incrementally rather than lump them with large quarterly bills. Powerpacks come in different dollar amounts to suit your pocket and how much power you need. Some offer discounts. Powerpacks are only available if you have signed up to the Powershop Classic option. Packs include:

Staying Power: a super-discounted special pack that is available once a month. The Staying Power discount starts off at 20% in your first year then increases by 1% each year you stay with Powershop, to a maximum of 25%.

Regular Specials: Available for a limited time each month. The Staying Power and the limited-time specials together contribute to your Special Rates.

Future Packs: Allow you to squirrel away power for the months to come. The further out you buy Future Packs, the bigger the discount. Buy six months ahead to save the maximum 10% against your Standard Rate for the month.

Fixed-price Value Packs: Have the smallest discount out of all the special packs, but come in a range of sizes.

Top-Up Packs: Allow you to buy a specific amount of power (to the nearest whole $) at your Standard Power rate, with no discount.

Standard Power Top-up Packs: Power priced at your standard rate.

AirShed Green Top-up Packs: Make a contribution towards offsetting the emissions associated with the amount of standard power you purchase.

Don’t worry if you’ve not bought enough Powerpacks in advance. If your electricity usage exceeds what you have pre-purchased, Powershop will charge your account using your preferred payment method. You will not be cut off simply because you have consumed all your Powerpacks.

Powershop Rates

Similar to other power companies, Powershop prices include a daily fixed charge and an additional charge for every kilowatt of electricity you use. These Powershop charges differ depending on your location, the amount of power you use throughout the year, and what time of the day you use the power. However, you can get an idea of how much it could cost to switch to Powershop by using Powershop’s online power calculator for an estimated price.

A good thing about Powershop is that it guarantees you a saving. So, if you sign up to Powershop and end up paying more than you did at your previous power company – for the same amount of power – then you will be reimbursed. Also, if you haven’t saved $150, or more, during the guaranteed savings period, Powershop will give you the difference in power credit.

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Powershop tools and features

Powershop has always remained at the frontier of electricity retail innovation. It offers an array of digital tools that are designed to make its service convenient, flexible and transparent. You can use the Powershop online store, mobile app or web portal to:

  • Buy Powerpacks
  • Use the Power Organiser to calculate how many days your Powerpacks might last
  • Monitor daily energy consumption
  • Check your account balance
  • Keep records of previous energy usage

Powershop switch your mates

The Powershop Switch Your Mates referral program gives you $100 power credit every time you get one of your mates to switch power companies to Powershop. Each mate you refer will also get $150 free power. However, you do need to make sure your mate signs up with a referral link you share with them or you will not be eligible for the free power.

Solar power with Powershop

If you’re considering solar panels, Powershop has a feature that may help you make up your mind: a buy-back rate that is currently 8.5 cents per kilowatt hour exported. Available only to customers with installations under 10kW, appropriate import-export meter required.

Account management

You can manage your Powershop account online, either through the website or Powershop app. The Powershop app also allows you to:

  • View your daily usage in half-hour differences.
  • Get first dibs on new specials that come in, by being notified of them as soon as they are available.
  • Save power by adjusting your power usage according to the peaks and troughs in your daily insights.

When it comes to paying your power bills, Powershop gives you the option of direct debit, debit card, credit card or by cash at a PostShop (with the Powershop Recharge Card). You can also set up an automatic payment in your online account, which will be taken out of your account three days after the purchase of power.

Powershop is flexible with payments – you’re not confined to the same form of payment each time. As well as this, you can choose the payment dates that suit you your financial position. This can all be done through your online account!

Is Powershop right for me?

We can’t say whether Powershop is right for your specific situation, as rates change with location and power usage. However, we do know that Powershop has always rated highly in Canstar Blue’s Electricity Provider awards, winning more times than any other power company. For more info on our latest awards and Powershop’s 2021 win, click the button below.

 

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