Love the idea of wholesale power, but hate the ups and downs? Meet FIXIE - a brand new price plan that passes on a fixed generation price from us to you, with no mark-up.
With FIXIE, all the costs that make up your power bill are passed on to you at wholesale, but your spot price remains fixed for six months at a time. We reckon it's NZ's fairest fixed price power deal.
Freestyle estimates not reflective of current conditions
Right now, we're experiencing an unprecedented period of elevated spot prices in New Zealand. Because our Freestyle bill and price estimates are based on historical average prices and usage, current conditions are not reflected in these calculations.
The estimates provided are based on long term data - Freestyle pricing is typically lower than the fixed price you'll get on FIXIE, as shown in the estimates provided - however right now (October 2018), Freestyle pricing is significantly higher than FIXIE pricing and we think you'll be better off on FIXIE short term.
*The per kWh price estimate is based on the most common meter configuration for your area - your meter set-up may be different. The Freestyle kWh price includes the average spot price for your region over the past ten years to Sept 2018, however you'll pay the live spot price on Freestyle, which changes every 30 minutes. These estimates are not reflective of current, exceptional conditions.
NZ's fairest fixed price plan
Just like on our spot price product, Freestyle, whatever we pay for power is the same price we sell it on to you for. We simply fix the spot price for six months at a time, so you can set and forget with a guaranteed price.
If you’re in a network area where your price changes depending on the time or season, you’ll still be able to move energy use around to take advantage of lower price times.
Guaranteed price for six months
Your commitment to a six month term on FIXIE is how we guarantee your price. Think of it as us buying your power in advance, and you paying us back over six months.
The longer you stay on FIXIE, the cheaper it is for us if you opt-out, so 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 - it'll cost $10 for every month left on your term.
Total choice, full control
Flick's suite of tech tools puts the power in your hands. The Flick mobile app lets you track your current bill and access previous bills at any time. Pay the actual cost of your bill weekly, or choose to pay a regular amount with Volt. Choose to monitor NZ's carbon emissions from electricity with CHOICE and reduce the carbon footprint of your home. Get power over your power!
Questions? We've got answers
When will I be switched over to FIXIE?
If you're already a customer with Flick under Freestyle, then when you switch to FIXIE we backdate you to the start of the current week. For example, if you sign up on a Thursday we backdate you to the Monday of that same week, or if you join on a Monday, we start you from 12:01am that same day.
But spot pricing's Flick’s thing! Why are you offering fixed-pricing now?
In short, our customers spoke, and we listened! A few of our Flicksters told us that while they love what Flick is about, they aren’t keen on the ups and downs of our spot price product, Freestyle. So FIXIE has been specifically designed to bring Flick’s values of honesty, transparency and fairness to fixed price power - and that means continuing to pass on all the costs of supply at the wholesale rate, plus a Flick Fee that’s still completely separate and transparent.
We’re still calling a spade a spade and telling it like it is, but now Flicksters can also choose to have that with a fair fixed price product. Plus, they’ll still receive our Consumer NZ-Trusted and Energy Excellence Award-winning attitude - that’s here to stay!
So how is FIXIE different to other fixed-price power plans?
It’s fixed price power that’s fair. First of all, FIXIE is about fixing the price of the generation part of your bill only - that’s the price of the actual electricity you use. Second, all of the other costs of supply will continue to be passed through at their wholesale price. The cherry on top is our descending break fee structure - the cheaper it gets for us, the cheaper it gets for you. So much goodness!
Will Flick make any money off hedging with FIXIE?
Nope - no ticket-clipping over here! Our numbers gurus (and they really are!) have spent hours hunched over their calculators working out a price for our customers that most fairly reflects the cost for fixing your generation price for 6-months. In fact, we’ve put a huge effort into ensuring that FIXIE - just like Freestyle - incorporates our ever-important Flick values of honesty, transparency and fairness. So 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 is set at $0.0015 per kWh you use (0.15cents/kWh) and covers the cost of technical outgoings like trades and account handling - it isn’t calculated to make a profit.
And we’ve even given the Flick treatment to FIXIE’s early exit fees, too! We calculated the amount we need to cover our costs for the period of a 6-month contract, which means that as it gets cheaper for us (the further into your FIXIE contract you are), it also gets cheaper for you - we won’t be making any moolah off it.
Will I save more money on FIXIE or Freestyle?
It depends if the average spot price over your 6-month FIXIE contract is higher than the fixed price of generation. If the spot price is pretty sharp, then it’s likely that Freestyle will provide you with more significant savings.
A better way to decide if FIXIE is right for you might be to ask yourself whether you value certainty about your price over the opportunity that comes with a spot price plan. Hmmm... We’re on hand to help out if you need to talk through it! Give us a bell on 0800 435 425 or send us a line at firstname.lastname@example.org.
Why do I have to commit to a fixed term with FIXIE?
When you choose FIXIE you’re committing to a set generation price for a 6-month period. Price certainty goes hand-in-hand with time certainty, and that’s because we need to know you’ll be with us long enough to cover the cost of the power we’ve bought for you on your behalf.
But you can betcha bottom dollar that we won’t be locking you into a multi-year contract that gives you no choice - that just ain’t our style. Instead, we’ll keep the fixed term short and sweet, and we’ll check in regularly to see how it’s going. Now that’s more like it!
What if I want to leave FIXIE before my 6-months is up?
No problem - you’re free to leave FIXIE at any stage! But you do need to be aware that there’s an early exit fee associated with breaking your 6-month FIXIE contract. That’s because, as we mentioned above, 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, as y’all know, we’re 100 percent against unfair break fees - it’s not how we want to make our money. So here’s the deal: if you opt out of FIXIE, we’ll charge you $10 (excluding GST) for each month until the end of your 6-month contract. That means if you leave FIXIE with 4-months still on your contract, you’ll be charged an early exit fee of $40 plus GST, for example.
How’ve we worked this one out? Easy. Each month you’re on FIXIE, you’re paying us for the power we’ve already bought for you. So the longer you stay on FIXIE (and the closer it gets to the end of your 6-month contract), the cheaper it gets for us if you decide to opt out. After all, it’s only fair.
I’m moving house, but staying with Flick - how does FIXIE work for me?
We’ll waive your early exit fee (yass!) on the FIXIE contract at your old house, and simply restart your 6-month contract (the usual Ts and Cs would apply to this new contract, including the early exit fee).
Will there be different prices for different people on FIXIE?
There are - and it’s mainly down to which network you belong to. As you may know from our Forecast To Final Prices blog, moving energy around the country costs money so the price of electricity sometimes vary depending on location. Sames goes for FIXIE.
Metering configuration also makes a price difference, which is true of Freestyle too (and any power price plan for that matter!). For example, if you’ve got Controlled and Uncontrolled configuration this is often more expensive than an All Inclusive or Controlled configuration (that’s because the network company can switch off power to a Controlled meter when there’s a fault or demand is very high).
Last but not least, the price we buy hedges for may increase or decrease. This won’t affect your 6-month contract, but it’s possible that there will be variances in price between contracts. Our finance team will be working hard to keep it pretty same-same (not to mention the absolute best price we can!), but the price has the potential to increase or decrease between contract periods.