Kiwis searching for savings on their power bills are increasingly switching to two electricity retailers, according to the latest data from Powerswitch.
Powerswitch is a free, independent online power price comparison website run by consumer advocacy organisation Consumer NZ.
The data from March to July 2026 showed of the Kiwis who initiated a switch on the service, Electric Kiwi and Genesis have dramatically increased their share of consumer interest.
The data showed New Zealanders were becoming far more focused on a small number of retailers when looking for better deals, said Consumer NZ's Powerswitch manager, Paul Fuge.
"What stands out is how concentrated consumer movement has become recently. Nearly three out of every four of those switching through Powerswitch in July went to either Electric Kiwi or Genesis," he said.
Of the Powerswitch initiated switches in July, 55.5% were to Electric Kiwi (up from 37% in March) and 17.4% to Genesis (up from 3.8% in March).
Meanwhile, Contact’s share of Powerswitch initiated switches fell from 26.9% to 11.4% and Mercury’s from 12.3% to 4.1%.
Powershop noted a considerable drop from 11.6% to 5.2% after thousands took leave after its new app rollout.
Almost 28,000 Kiwis have initiated a switch this year on Powerswitch.
“People are clearly responding to offers that deliver meaningful savings. In a market where power prices have risen sharply, households are paying closer attention to who is offering the best value. The data shows they are now more inclined to take action," Fuge explained.
He said the figures should serve as a reminder that sticking with the same retailer year after year can be costly.
"Electricity retail is more of a revolving door than a pecking order. Retailers rise, fall and fight their way back again as they compete for customers. The retailer topping the rankings today can quickly find itself chasing the pack tomorrow.
"Power prices are already high, up 20% in the past two years alone. Don’t add a loyalty tax on top. The average annual saving for people who switch on Powerswitch this year is now around $479."
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