Many electricity retailers provide extra perks on top of their standard contract offerings. Goodies range from bundle deals through to loyalty programs, free electricity slots, joining credit and even free TVs! So, if you’re looking for a cheaper electricity deal, it’s well worth seeking out these offers for the additional value they deliver.
Of course, choosing a suitable tariff should be your top priority when choosing the right electricity retailer. It’s always important to match the right tariff to your household’s usage. Ultimately, the best tariff rate will deliver the cheapest electricity in the long term.
However, it’s also important to consider overall value. For when comparing similar offers, a nice perk could be the factor that clinches the deal. So, with this in mind, what are some of the deals being offered?
Shopping around: weighing up retailer offers
The right tariff for your household is determined by a variety of factors: from the amount of power you use, to the time of day that you use it. So it’s important to maintain a long-term outlook.
It is, of course, worthwhile shopping around and comparing different retailer deals, along with how any added incentives complement their main contract offering.
In weighing up retailer bonus offers, it is worthwhile considering:
- Ongoing value – what sort of value is delivered of the full duration of a contract?
- Engagement – what level of engagement is required to gain full value? Loyalty programs and free electricity offers may only suit consumers who are proactive and willing to monitor their power usage.
- Smart meters – may be required for some deals, such as free electricity offers.
- Terms and conditions – ensure that you’re eligible under the T&Cs of any offer. What happens if you opt out of a contract before its end date?
There is certainly significant scope to benefit from bonus offers, so it pays to consider your options. Of course, if you have any questions about a specific offer, just contact the retailer directly before signing up.
Get a better power deal with Canstar
If you’re concerned about your power usage, consider whether you’re on the best deal for your household. Because you could be getting a better rate. Canstar rates electricity providers, so you can compare your options easily:
Canstar Blue’s latest review of NZ power companies compares them on customer satisfaction. The table below is an abridged version of our full results, available here.
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Loyalty programs are designed to provide members an ongoing range of incentives. These include store discounts, and the ability to obtain points that can be used for rewards or put towards purchases.
These types of programs suit engaged consumers, as they are typically structured to reward those who shop and spend more.
Retailers offering loyalty programs include:
- Genesis Energy – customers can link their Flybuys account with an eligible Genesis plan. Flybuys points can be redeemed at the Flybuys website or app, or by phoning the Flybuys service centre.
- Mercury – customers can link their eligible Mercury account with Air New Zealand’s Airpoints loyalty program, earning Airpoints Dollars when they pay their bill. Customers who download the Mercury Go app can earn Mercury Dollars, which can be spent on their Mercury bill or exchanged for Airpoints Dollars.
- Contact – customers can earn AA Smartfuel discounts. The no fixed-term Fuel Rewards plan offers 15c off per litre once every month. The fixed-term Fuel Rewards Plus plan earns 30c off per litre once every month. (Discounts redeemable on a single fill of up to 50 L).
Bundle deals are when retailers package together two or more services – such as electricity and gas, or electricity and broadband – with the additional services added at a discounted rate.
Along with delivering discounts, bundle deals also provide consumers the convenience of consolidating a range of services through the one retailer.
Retailers offering bundle deals include:
- Trustpower – customers can bundle power, gas, broadband, phone and mobile services. Those who join on an eligible power and broadband bundle for a 24-month term receive their first 12 months of broadband at half price.
- Nova Energy – customers can bundle power, gas and broadband services. Customers who bundle power and broadband receive a 43-inch LG Smart TV, or up to $480 in discounts, when switching to selected plans.
- Slingshot – customers can bundle power with their broadband service, receiving 10% off their base broadband and 10% off power plans.
Free electricity deals range from one-off promotions, to regular time slots during which customers get free power.
It is important to keep in mind that having a smart meter will likely be necessary for these types of deals.
Retailers offering free electricity deals include:
- Electric Kiwi – the Hour of Power allows customers to choose 60 minutes of off-peak power each day. All electricity used during that hour is free.
- Genesis Energy – Power Shout allows customers to choose periods of free power. They are offered throughout the year to Genesis customers on eligible plans.
- Mercury – free power days offer customers 24 hours of free power.
Joining credit typically sees retailers apply credit to a customer’s account upon sign-up. The credit can apply only to the first bill, or be spread out over subsequent bills.
This type of reward may suit consumers who are less engaged, and are seeking a one-off bonus for opening a new account.
Retailers offering free joining credit include:
- Meridian Energy – offers eligible new customers a $200 welcome credit on their first bill.
- Powershop – provides eligible new customers $150 free power, spread over their first 12 months.
- Trustpower – offers a $50 account credit for signing up online when joining on an eligible power and broadband bundle for a 24-month term (along with the choice of a range of joining rewards).
If all this talk of electricity deals has left you wondering if you’re paying too much for your power, Canstar compares electricity providers in NZ. To check you’re with the best provider, just click the button below: