Smaller firms get power-saving tips

New Zealand small and mediumsized businesses (SMEs) can now look for electricity savings through a new initiative launched by the Electricity Authority recently.

Following the success of the ‘‘What’s My Number’’ residential campaign, SMEs now also have the opportunity to easily check they are with the most costeffective electricity provider for their business needs at whats mynumber.org.nz/mybusiness.

‘‘ 2011 research into SME awareness and behaviour around switching electricity providers revealed that only 4 per cent are actively looking for a cheaper retailer (compared with 5 per cent of residential customers). Barriers to switching included perceptions that there weren’t any real gains to be made and that it seemed too much of a hassle,’’ Electricity Authority chief executive Carl Hansen said.

The online business tool, which has been developed in partnership with Switchme, has been in a market trial phase since August. So far 35 per cent of businesses receiving tariff offers via the online business tool have chosen to switch electricity retailer.

During this trial period, one customer found that the difference between the cheapest and most expensive pricing option was $28,000. The pricing responses so far have an average spread of 17 per cent indicating significant potential savings are available.

‘‘The online business tool takes the hassle out of switching – it’s quick and easy,’’ Mr Hansen said.

‘‘Small to medium sized businesses contribute 39.8 per cent of the country’s total output so are an important part of New Zealand economy. Making sure they are not unnecessarily overspending on absolute necessities like power, benefits everybody,’’ added Hansen.

SMEs can start the process online and receive personalised quotes from a selection of retailers based on their location and electricity consumption.

All they need to get started is a few minutes of their time to: Grab a recent power bill Fill in the personalised quote form online

Local retailers quotes

The business can then review their quotes online and select their preferred retailer – the new retailer will take it from there.

‘‘The more informed New Zealand businesses are about how easy it is to switch, the more motivated electricity suppliers are to offer better deals and services, thereby increasing competition in the market, which is exactly what we are trying to achieve. Increased competitive behaviour leads to more choice and benefit for the consumer,’’ concluded Mr Hansen.

For more information visit whatsmynumber. org. nz/ My Business.

will

prepare