Meridian’s energy price change explained

You may have recently been advised that the energy component of your electricity price is increasing.

 

Frequently asked questions about the energy price change

  • Didn’t you just change my rates?

    We changed our network charges for some networks, effective 1 April 2016. This review relates to our Meridian charges.

  • When do you review my rates?

    Each year, Meridian customers typically receive changes to their prices based on network charges (either up or down) from their local network company on 1 April.

    We review our Meridian charges on a regular basis but this may not always result in a change to your pricing.

  • What do Meridian’s total electricity rates include?

    Our total electricity rates are made up of network charges and Meridian charges. Your bill shows these charges separately but the amount you pay is calculated on the total electricity rate.

  • How are your rates displayed?

    Our rates are shown as GST inclusive and before any prompt payment discount is applied. Due to the effect of rounding, the network and Meridian charges on your bill may not add up to exactly the same amount as the total electricity rate. Your electricity bill is calculated on our total electricity rate. Any other rates that apply to your bill but are not listed in the table, such as for unmetered supplies, remain the same.

  • What is a network company?

    Network companies are also called distribution or lines companies. They own and operate the local power line networks that take power from the National Grid (operated by Transpower)  to your property.

  • Why have you removed my smart meter rebate?

    For customers who have previously received the smart meter rebate, this has been removed in order to simplify your bills.  Any rebate you received from having a smart meter has been considered in setting the new rates we have offered to you.

  • How do you estimate how much more or less I will be paying?

    For customers who we have received reads for the last 12 months or more, we look at how much electricity you used over the last 12 months and by working out the difference between your current and new rates we can estimate the annual impact. We then divide this by 12 months to estimate the monthly impact to your bills.

    This estimation includes GST, assumes that you’ll receive your prompt payment discount each month, that your power usage stays around the same as previous years and that your meter type/network classification won’t change (these can all make a difference). The actual impact will differ month to month depending on how much electricity you have used in that month (e.g., you would typically use more power over the winter compared to summer).

  • What is a kilowatt-hour (kWh)?

    A kWh is one kilowatt (kW) of electricity used for one hour (h). An electricity meter records the amount of electricity you use in kWh (kilowatt-hours). A kWh is equal to 1000 watts used over a one hour period. For example 1kWh = 10 x 100 watt light bulbs burning for one hour.

  • What is an ICP Number?

    An ICP number is an industry reference and stands for Installation Control Point (ICP).  An ICP is assigned by the network company to help identify each metering point on your property.

  • Trouble paying your bills?

    If you’re having trouble paying your bill, or think you may have trouble paying your bill in the future, talk to us. We can discuss payment options and budget advice, or put you in contact with social agencies that may be able to help, such as Work and Income New Zealand.

If you’re a Meridian customer and have questions about pricing and/or price changes, please email us or call us on 0800 118 228.