Open Electricity: Helping New Zealanders Find the Best Power Plans and Save Money

Open Electricity will help New Zealand homes and businesses plug in to the best power plan for their needs and drive better competition in our electricity market, Energy Minister Simon Watts and Commerce and Consumer Affairs Minister Scott Simpson say.

The Government has designated the retail electricity sector as the next cab off the rank under the Customer and Product Data Act. This follows the implementation of Open Banking, of which the regulations came into force on 1 December 2025.

Right now, there are more than 15,000 power plans for residential users alone, making it nearly impossible to compare and find the best plan to suit people’s needs, Mr Watts says.

Open Electricity will make it simple to quickly compare the electricity needs of your household or small businesses against every power plan on the market, saving time and money.

Recent energy savings campaigns show that consumers who switched power plans saved an average of $358 a year – a huge win at a time when cost of living is top of mind for many.

New Zealanders can also expect lower costs through more efficient and reduced electricity consumption, and there are opportunities for network cost savings through reducing energy use at peak times.

Open Electricity will mean customers can access data around their electricity consumption and product options quickly, clearly, and securely – and be able to share that information securely with others who can help them get the most out of their data. This will help them optimise their energy use and make important household decisions, like whether to install solar or buy an electric vehicle.

I have been clear that ensuring Kiwis have access to abundant and affordable energy is my top priority. We are moving as quickly as practical to ensure Open Electricity can make these savings a reality for many. Consumers will start to see changes from September this year with all changes completed by mid-2027.

Approximately two million households and 165,000 small business customers will benefit from greater choice through improved transparency and better access to their data.

Mr Simpson says the changes will drive competition and offer access to new innovative products in the electricity market. Currently, accessing information about your electricity usage is slow, costly, and inconsistent. It restricts your choices and your ability to get a better deal for your usage, Mr Simpson says.

Current electricity price comparison tools base usage on averages. While this can be helpful, it is not enough to support the high levels of cost reduction and innovation that we would like to see in our energy market. Secure and ready access to your individual data will ensure you get the best price.

Open Electricity allows customers to get the best value for their money. I am very pleased to see this roll out and I look forward to Kiwis making the most of this exciting initiative.