One of the easiest ways to save money on your electricity bill is to make the most of off-peak power. But not all power providers have plans that offer cheaper power at off-peak times.
However, this is about to change. New legislation from the Electricity Authority is forcing large power retailers to offer time-varying pricing plans to their customers.
Power companies have a year to comply, but many electricity providers already offer plans that deliver off-peak power. So there’s no excuse to not chase the savings on offer today.
Below we run through the details of time-of-use electricity plans, and reveal what’s already on offer from NZ power companies.
What are night/off-peak power plans?
A standard power plan charges a flat rate for power, regardless of when that electricity is used.
But if a power plan features time-of-use pricing, it charges different rates for electricity, depending on the time of day. The cost of power used during peak times is more than when demand is lower.
For example, these are the current power prices per kWh offered by one provider for an Auckland address:
- Peak: 0.32959c
- Off-peak: 0.23759c
- Night: 0.164795c
When are night/off-peak power times?
Peak power times differ between providers but, generally speaking, peak power times are: Monday to Friday, 7am-11am and 5pm-9pm.
Off-peak times can vary, too. Some providers have different off-peak price bands, including overnight and weekend power that’s cheaper than off-peak electricity during the week.
Is a night/off-peak power plan right for me?
Whether a time-of-use power plan is right for you depends on your electricity usage and your ability to make use of the cheaper power times. For example, can you use major appliance, such as your dishwasher and washing machine, during off-peak times.
Also you may find that a power plan offers a great night rate but, to compensate, its peak rates are higher, which could offset any savings.
Peak/off-peak tariffs may be best for:
- EV owners – who can use the cheap night rates to charge their EVs.
- People who work odd hours – if you work nights and are home all day, for example, you can run your power-hungry appliances during cheaper daytime rates.
- People who work from home – working from home can really add to your power bill. Cheaper power through the middle of the day can make a big difference.
- Night owls and early birds – up extra late or extra early during off-peak times? Use those hours for showers, doing your laundry and running your dishwasher.
Aside from the rates on offer, there are plenty of other factors to consider when choosing a power provider, which might determine whether a time of use plan is right for you.
Does your provider offer:
- Signing on credit/deals.
- Free power hours.
- Excellent customer service.
- Helpful online tools and/or a great phone app.
- The ability to bundle other utilities such as broadband, gas, and/or phone plans for further savings.
- Flexible contracts with no tie-in period.
Which power companies offer night/off-peak plans?
Below is an overview of all the major electricity providers in New Zealand that offer plans with peak and off-peak electricity rates. Do note the actual rates offered will be based on your home's address, so be sure to visit individual retailer websites for quotes.
Ecotricity
Ecotricity sets itself apart as New Zealand’s only provider of 100% renewable and carbonzero certified electricity.
Its ecoSAVER plan allows its customers to save by switching power to off-peak times, and offers up to 50% discounts on peak rates:
- Peak times: 7am-11am, 5pm-9pm
- Off-peak times: 9pm-7am, 11am-5pm & all day weekends
Ecotricity also offers an ecoWHOLESALE plan, which links prices directly to the wholesale market. This can lead to very cheap power in times of high production, but the reverse can also apply. In times of low national power supply and high demand, you could pay dearly for the electricity you use.
Electric Kiwi
Electric Kiwi has two plans that offer off-peak rates. Notably, its morning peak rates are just 7am-9am. Whereas many other providers charge peak rates until 11am. Throw in the fact that all Electric Kiwi plans come with an hour of free off-peak power, and there are plenty of savings to be made.
MoveMaster
- Three different rates for power (peak, off-peak shoulder, off-peak night)
- Half-price power overnight (11pm-7am)
- Solar buyback rate: 23c/kWh peak & 11.5c/kWh off-peak
Go250
- Prepaid balance of $250, topped up when balance reaches $0
- Two different rates for power (peak and off-peak) – move your power usage off-peak for the biggest savings
- Free power all day Sundays for first 12 months of contract
- Must be bundled with broadband or mobile
Contact
Contact Energy has three plans that offer cheaper off-peak power:
- Good Weekends: Free power 9am-5pm every Saturday and Sunday, no fixed term
- Good Nights: Free power 9pm-midnight every night, no fixed term
- Good Charge: Half price power 9pm-7am every night of the week
Octopus Energy
Octopus Energy's off-peak rates include half-price energy at night.
- Peak times: 7am-11am, 5pm-9pm
- Off-peak: 11am-5pm, 9pm-11pm & 7am-11pm on weekends
- Night: 11pm-7am everyday
Powershop
Powershop has Get Shifty rates, which offer discounted electricity rates during off-peak hours in some areas.
The times differ depending on your area and network, but in most areas peak rates fall within the standard times of: weekdays 7am-11am, 5pm-9pm.
For more info on Powershop's Get Shifty rates and if they apply to you, click here.
Pulse Energy
Pulse Energy's Power Shift Plan offers:
- Peak, off-peak, and night rates: discounted off-peak power
- Half-price weekends: from 12am Saturday to 12am Monday
Peak: 7am-11am & 5pm-9pm | Off-peak 11am-5pm & 9pm-11pm | Night 11pm-7am
Night/off-peak EV power plans
While these providers don't offer standard time-of-use rates, they do have plans with discounted night rates for EV owners. While these plans are primarily designed to save on EV charging costs, you can run other appliances during these hours to make the most of the discounted rates. Note that each of the following plans require evidence of EV ownership.
Meridian
Meridian's EV Plans offers discounted electricity from 9pm-7am every night.
Genesis
If you have an EV, Genesis will give you half-price power from 11pm-7am every night.
Mercury
Mercury's EV Fuel Package applies a 20% discount to your existing Mercury plan between 9pm-7am every night. Available on a two-year term.
How do you make the most of night/off-peak power plans?
Night/off-peak plans work well for households that are disciplined and committed to using electricity outside of peak times. Here are some tips to help you make the most a night tariff plan:
- Make sure you know when your night time/off-peak rates are, so you can make the best use of them
- Ensure your hot water cylinder is set up so it only charges at night. You will need to make sure you've enough water in your cylinder to last the whole day
- Use high-energy appliances at off-peak times, for example the dishwasher, washing machine and dryer
- If you have an electric vehicle (EV), charge it at night
- Charge your devices overnight
- During winter, set your heat pump(s) to come on early in the morning before peak-power time, to thoroughly warm your living areas
