Slingshot powers to top

Slingshot, owned ASX-listed telecommunications company Vocus Communications New Zealand, was the top-growing power company in Auckland last month, despite not being officially launched and only selling power to existing broadband customers during a soft launch phase, the company said.

Data from the Electricity Authority showed an ICP or installation control point count of 596,308 in Auckland in June and a gain of 755.

Of that total, 3009 ICPs were with Switch Utilities — the name Slingshot trades as — with a gain of 523.

Switch Utilities showed the largest gain across 27 different providers. The bulk of power users in New Zealand’s largest city are with Genesis Energy, Contact Energy and Mercury New Zealand.

Slingshot is now selling power by nationwide to new customers as well as existing broadband customers and “the response to date in Auckland has exceeded expectations “and we’re expecting [an even stronger July]”, said general manager Taryn Hamilton.

Hamilton said the electricity industry was less competitive than the telco sector and while the industry reports that tens of thousands of people switch power provider each month, the stats include people who move to a new house and stay with their current provider.

Rather, the Electricity Authority statistics show that almost one third fewer people are switching their power company for their existing home compared with five years ago despite the growing number of providers, Hamilton said.

“People aren’t making the most of the price savings out there, and many don’t seem to care,” he said.