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Fixed or variable rates? What’s right for you

Here's the difference between fixed pricing (Fixed Rate Plans) and variable pricing (Open Plans). If you've still got questions on what's right for you, we're here to help.

Change to variable pricing

Understanding fixed rate pricing (Fixed Rate Plan)

How fixed rate pricing works

On a Fixed Rate Plan, your usage and network-based rates are fixed for the term of your plan, except in the circumstances set out in our Plan Terms. For example, government and regulatory changes like GST and the Electricity Authority levy can change. 

Fixed

If you have generation and Meridian buys back your export, your buy-back rate is subject to change on notice in accordance with our Fixed Plan Terms, unless otherwise specified for your plan.  Buy-back and export terms, conditions and eligibility criteria are set out in our Standard Terms. 

 

Fixed pricing applies when your price category, capacity and metering configuration stays the same and no new network charge is introduced.

Choose fixed rate pricing when

  • you want some certainty to help you budget, even if it means you pay a bit more now than you would on variable pricing
  • you’re happy to sign up to a contract of up to three years.

What’s variable pricing (Open Plan)?

How variable pricing works

On a variable rate plan, you’re not locked into a contract. It also means your Meridian charge and network charge will change as energy and network prices change.

You could save money if prices drop but, if they rise, so will your electricity rates. We’ll always give you 30 days’ notice before we increase your rates.

Variable

Choose variable pricing when

  • you don’t want to be tied into a contract

  • you’re happy for your rates to change (with 30 days’ notice or as otherwise set out in our Standard Terms). 

You can change from variable pricing to any available fixed pricing at any time.

Change to variable pricing

For more information, read our Open Plan Terms which will apply if you choose a variable rate plan. 

How do I see what plan I’m currently on?

Your plan details are on your bill. You can find this in your online account, under the 'Transactions' tab. You can also find your rates on our App.