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The Government says new electricity market reforms will help deliver fairer power prices for Kiwi households and businesses as pressure grows over rising energy costs across Aotearoa.
Energy Minister Simon Watts and Associate Energy Minister Shane Jones have welcomed changes announced by the Electricity Authority aimed at increasing competition in the electricity sector and giving consumers more ways to reduce their power bills.
Under the changes, large electricity retailers will be required to offer time-of-use pricing plans by mid-2026, allowing households to access cheaper electricity rates during off-peak periods.
The reforms will also require energy companies to pay fairer rates to households with rooftop solar panels and battery systems that export electricity back into the grid during peak demand times.
The Electricity Authority says the measures are designed to encourage more solar generation, improve energy flexibility and reduce long-term pressure on electricity prices.
The reforms are part of wider work by the Energy Competition Task Force, established following New Zealand’s winter power shortages and ongoing concerns about affordability and competition in the electricity market.
Government ministers say the current system has allowed large “gentailer” companies — firms that both generate and retail electricity — to dominate the market, making it difficult for smaller retailers to compete fairly.
Consumer advocates and industry observers say the changes could eventually create more competition and provide households with greater choice over how they buy, use and sell electricity.
However, some groups argue the reforms do not go far enough, warning many families are already struggling with soaring power bills and cost-of-living pressures. Consumer NZ says major structural reform may still be needed to properly address electricity affordability.
The Government says further announcements are expected as Cabinet considers a wider review into the future performance of New Zealand’s electricity market and energy security.
