A report for MBIE has found the Electricity Authority's NZ$15 million 'What's My Number' website and marketing campaign to encourage consumers to switch power retailers appeared not to have reduced power prices or increased competition much.
The average residential electricity bill rose 2.9% in 2013, including a 2.2% increase in distribution and transmission charges and a 3.4% increase in energy and retail charges.
The Electricity Authority has announced its Retail Advisory Group is considering recommending to the Authority that all retailers itemise lines charges in their bills.
The Electricity Authority (EA) has signalled that as many as nine new electricity retailers could enter the market, which it said was a sign the market was competitive and barriers to entry were not too high.
The Electricity Authority (EA) was so unhappy last year with the refusal of some retailers to pass on regulated reductions in lines charges that it referred its concerns about "signalling" between apparent competitors to the Commerce Commission.
The Electricity Authority (EA) is reviewing the widespread practice of electricity retailers using information about their customers to offer targeted discounting activity known as 'saves' and 'win-backs'.
The Electricity Authority (EA) has estimated that extra competition in the retail market since 2010 has forced retailers to absorb NZ$190 million of costs.