What’s the difference between a Fixed Rate Plan and Variable Plan?

Fixed Rate Plans provide price certainty for the duration of your contract. This covers electricity and Network charges. Government and regulatory charges like GST and the Electricity Authority levy can change.

Variable Plan rates are not fixed and can be changed at any time. We provide 30 days notice in accordance with our Standard Terms and Conditions for the Supply of Electricity should Variable Plan rates change. 

If your rates have changed, why have they changed?

Meridian constantly reviews both its Fixed Rate and Variable Plans to ensure they are competitive and recover costs (such as network charges, energy costs or the costs related to supplying your site). These costs may have changed from when your previous Fixed Rate Plan was locked in, and the new rates reflect these changes.

The Total Electricity Rate listed in the table is fixed until the expiry date of the plan. This is made up of Network and Meridian charges and while these may change, the Total Electricity Rate will remain the same. Regulatory or government levies (including the Electricity Authority Levy) and taxes (e.g. GST) can change. See below:

 

Fixed Rate

Residential only

Variable

Residential or Business 
Meridian charges  Fixed May change 
Network charges  Fixed May change 
Electricity Authority charge  May change May change 
GST May change  May change 

What services are not included in Fixed Rate Plans?

If you have any unmetered supplies, these are not part of the Fixed Rate Plan offer and those rates can change.

If your Prompt Payment Discount (PPD) has changed, why has it changed?

If your Prompt Payment Discount has changed it is because it was locked into your previous Fixed Rate Plan. A PPD is only offered for the term of your Fixed Rate Plan and may change when your plan expires.

What happens after my Fixed Rate Plan expires?

Once your Fixed Rate Plan expires, you will receive an email advising you that you can either sign up to a new Fixed Rate Plan or switch to one of our Variable Plans. Also, your Prompt Payment Discount may change at the end of this contract.

As a valued Meridian customer, you can contact us to switch between our Fixed Rate and Variable Plans at any time, at no charge but the standard Prompt Payment Discount will apply if you choose the Variable Plan.

What happens if I want to change electricity suppliers before my Fixed Rate Plan expires?

We do not charge exit fees if you choose to switch to another retailer during the term of your contract.