Stand clear of the tricks and traps
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In the electricity game, you'll find this phrase pretty accurate. Of all the power deals and sign-up offers bandied about, very few offer any real value in terms of long term savings - a voucher here, a discount there, maybe a few reward scheme points and a tidy slab of credit (ooh! aah!).
But there's good reason for electricity consumers to think twice about clever marketing. So, we're going to bust the doors open on some of the common sneaky lure tactics you will have seen in recent months, starting with prompt payment discounts...
Questions? We've got answers
What's wrong with a prompt payment discount?
Everything! A prompt payment discount is simply a late payment penalty flipped on it's head to make you think you're getting a better deal. From manipulating prices to make them more appealing, to unfairly discriminating against those that can't pay their bill, to penalising customer loyalty... we think prompt payment discounts are a poor and deceptive tactic designed to fool you into signing up with the highest bidder. Not fair, not transparent and totally dishonest! We don't do them.
Don't you do some of this stuff too?
From time to time, we'll throw around some free power or give away credits, but these tend to be one-off prizes. We don't do special long term deals for one group of customers, and something totally different for another, just to hit our targets.
Any loyalty schemes or Flickster benefits available to you are simply a bonus on top of the wholesale cost of electricity that we pass on from us to you, with no mark-up. You won't be paying for those benefits in fees or margins, it's just not our style to give with one hand and take with another.
Our fixed price plan, FIXIE fixes the price of the generation part of your bill only - that’s the price of the actual electricity you use. All the other costs of supply are passed through at their wholesale price. We don’t make any money on the cost of your fixed generation (or your metering, or transmission and distribution) - as always, we pass on the costs of supply without any mark-up and then charge a transparent Flick Fee and a separate fee to manage FIXIE. The FIXIE Admin Fee covers the cost of technical outgoings like trades and account handling - it isn’t calculated to make a profit.
There's an early exit fee associated with breaking your 6-month FIXIE contract, because when you join FIXIE, the generation price we can pass on to you is based on a 6-month commitment. Put simply: we’ve bought 6 months’ power for you in advance, and you’re paying us for that over the course of your contract. But we’re 100 percent against unfair break fees, and the longer you stay on FIXIE, the cheaper it is for us if you opt-out. We reckon it's only fair we pass that cheaper cost on to you - if you need to leave FIXIE before your six month term is up, we've got a descending early exit fee of $10 for every month left on your term.
Why do I have to give you my email address to get the guide?
We want to be able to keep you informed on changes happening in the industry. We're on a mission to empower Kiwis when it comes to paying their power bill, and there are always new and increasingly deceptive deals being thrown out there that we think you should keep on top of. We're not spammy. We'll only be in touch if we think there's something of true value for you. You can unsubscribe from our emails at any time.