Meridian and PowerShop customers have collectively saved more than $2m on their electricity bills through a programme that shifts when their hot water is heated.
More than 40,000 customers have now signed up to Meridian’s Smart Hot Water programme, earning a $10 credit on their power bill each month in return for allowing Meridian to shift some of their hot water heating away from periods when electricity demand is high.
Meridian Chief Customer Officer Lisa Hannifin says the strong uptake shows customers are seeing a lot of value in a scheme that requires very little from them.
“We’re now returning more than $400,000 a month to customers through credits on their accounts, and that amount’s increasing every month as more people join. And, importantly, the feedback we’re getting suggests people aren’t changing the way they use their hot water. No-one’s getting cold showers, but they are getting a lower bill at the end of the month.”
The scheme, which started in early 2025, is currently shifting between 80 and 100 MWh of electricity use each day away from more expensive peak periods when demand on the electricity system is higher.
Hot water cylinders can act like a battery within the home, storing energy for later use, meaning there’s flexibility around when they need to be heated.
Smart Hot Water uses smart meter technology to switch off the electricity supply to hot water cylinders during peak periods and then switches it back on when demand is lower.
“We’re thrilled with how well the scheme is working a for Meridian and PowerShop customers. It’s helping reduce demand on the network, and saving our customers money at the same time,” says Lisa Hannifin. “With no noticeable impact on a household’s enjoyment of hot water, it’s basically free money.”