What is the Cheapest Power Company in NZ? Save Money on Power in 2026
New Zealand households should prepare for further power price movement in 2026, with a mix of wholesale electricity costs, network charges, and retailer pricing strategies all playing a role.
Power Prices Set to Shift in 2026 – What Kiwis Should Do Now
While not every customer will see dramatic increases overnight, history shows that electricity prices tend to creep up quietly over time. Small monthly changes, removal of discounts, and adjustments to daily fixed charges can all add up — and many households don’t notice until they compare.
So what’s the smartest move in 2026?
Here are four practical steps every Kiwi household should take.
Compare Your Power Bill — Don’t Let Prices Creep Up
One of the biggest mistakes New Zealand households make is staying on the same plan for years. We see a real inertia in New Zealand with homeowners staying put and just PAYING TOO MUCH! The big New Zealand power companies rely on the apathy from Kiwis to stay put and this is what drives up their profits to record heights.
New Zealand power pricing and plans change all the time. NZ power retailers regularly introduce:
1. New customer welcome bonuses
2. Account credits
3. Promotional rates
4. Bundled offers
...and meanwhile, loyal customers often roll onto higher “standard” pricing over time. Even if your rates have only increased slightly by a few cents here and there, over a year that can mean hundreds of dollars in extra spend.
So what can you do about it? How can you save on your power bill?
TAKE ACTION!
Pull out your most recent power bill and compare it. Check the following prices in particular and use a site like Power Compare to see what you could be paying.
Make sure you check all of the following:
1. Your daily fixed charge
2. Your per-kWh rate
3. Any discounts applied (or removed)
4. Whether your contract term has ended
Once you have this information and details of how much power you use you should be able to get a good comparisoikn - the welcome credits alone that some provider offer can make switching worthwhile.
Our user-friendly platform is free to use, and makes it easy to compare power plans and providers available to you within just minutes. Simply enter your address, select any filters that apply, and compare the options side-by-side. Find one you like and switch. Consider securing yourself a 1 or 2 year contract that locks you into the current power rates before they go up. Keep your power bill low, and keep control of your budget in 2026.
Look at How You Use Power — Not Just How Much
2026 will likely see more retailers pushing time-of-use (TOU) plans, where electricity costs less during off-peak hours and more during peak demand.
If your household:
1. Runs the dishwasher at night
2. Can shift washing to evenings
3. Charges an EV overnight
4. Uses timers for hot water
You may benefit from off-peak pricing and so switching to a time of use plan with peak and off-peak power could generate a nice little saving.
On the other hand, households home all day using heating during peak hours may be better off on flat-rate plans.
TAKE ACTION!
Check your usage profile. Many retailers provide half-hourly data via their apps. Small behaviour changes — like running appliances later in the evening — can deliver real savings if you are on a time of use plan. So think twice before you press "POWER ON".
Maximise “Free Power” and Promotional Offers
Some NZ power plans offer various incentives, 'free periods' or 'free days'. Are you on one of those plans? They could be described as:
1. Free power hours
2. Free weekends
3. Free EV charging windows
Used strategically, these aren’t just gimmicks — they can create meaningful savings and reduce your power bill significantly.
For example:
1. Running dryers and heat pumps during free hours
2. Charging batteries or EVs during free windows
3. Scheduling heavy-load appliances strategically
The key is intentional usage. If you simply ignore the free window, the value disappears. So why not make a game of it? See how much you can save! You can even invest in a few automatic timers for certain appliances and really milk the savings at key times!
TAKE ACTION!
If you’re on a free-hour plan, actively shift your highest-usage appliances into that window.
Don’t Just Compare Power — Compare Everything!
With cost-of-living pressures in New Zealand continuing into 2026, reviewing only your electricity bill may not be enough to make a dent in your household budget.
Households should also compare:
1. Broadband plans - Check out Broadband Compare
2. Mobile plans - Check out Mobile Compare
3. Insurance - Check out our friends at Quashed - they will do a FREE market scan and show you how much you can save on your car insurance - Compare Insurance Now
Remember, it is rare that loyalty pays when it comes to utilities... the providers rely on the inertia and apathy shown by Kiwis to not switch when they increase prices. Don't be a sheep! Be a wolf! Get out there and TAKE the best deal you can find. NZ Compare websites are here to help and a full household utilities review once per year can save far more than just focusing on power alone.
The Bottom Line for 2026
Power prices in 2026 may not spike dramatically for everyone, but incremental increases are very likely.
The biggest risk isn’t a single large hike — it’s doing nothing while prices slowly climb... So what is the best defence?
TAKE ACTION!
✔ Compare regularly
✔ Review how you use electricity
✔ Take advantage of promotional offers
✔ Audit all your household bills
In a changing market, informed customers win. NZ Compare is here to help you win.
So if you haven’t compared household bills in the past 12 months, 2026 is the year to start.