ELECTRICITY PRICING

Time of use pricing

On 1 April 2020, we introduced a two-part time of use (TOU) residential price structure (daily fixed price with different volumetric prices depending on the time period when the electricity is used) that has peak time pricing during 7am-11am and 5pm-9pm weekdays and off-peak pricing during other times. The change to TOU means that during peak times our volumetric prices will be higher than during off-peak times, which better reflect the costs of electricity distribution and transmission as high electricity demand puts pressure on the electricity networks. 

TOU is the best current overall candidate for a standard price structure resulting from a thorough recent review of our price structures balancing the trade-off between competing goals such as cost reflectivity, simplicity, acceptability and bill impact, underpinned by regulatory requirements including the Low User Fixed Charge Regulations and Electricity Authority’s Pricing Principles. 

TOU pricing offers residential and general consumers the ability to reduce their electricity bill by shifting some electricity use from peak to off-peak times. Please contact your retailer to see if they are offering a TOU plan that passes through to you the benefits of our TOU pricing. A smart meter capable of communicating interval consumption data is required.  
 

Controlled gas tariff

On 1 April 2020, we merged our controlled and gas price categories for electricity consumers. These plans were previously priced at the same rates and designed to reward residential consumers for the benefit these households deliver to us in helping to reduce load during peak periods, via electrical hot water load control system or gas connections which typically use less electricity during peak periods.

If you want to know whether you’re eligible for the controlled price plan and would benefit from making a switch, get in touch with your electricity retailer.
 

Low user fixed charge

If you are a low-use electricity consumer it may pay to check with your retailer that you're on the right price - it could save you money.  We and your electricity retailer offer electricity consumers who use less than 8,000kWh per year, lower fixed charge price categories. The offering of a low fixed price to those consumers using less than 8,000 kWh is required by the Low User Fixed Charge Regulations.

These categories have a combination of low daily charges and higher variable charges when compared with our standard price categories. This means if you use less than 8,000 kWh per year the low fixed charge price categories will be cheaper for you. To check if you're eligible for this price category, contact your retailer.

Your electricity retailer should inform you at least annually of how much energy you use, and whether it may be beneficial for you to switch to a low fixed charge price category. If you want to know how much electricity you use, which price category you are on or whether you are eligible for a low fixed charge price category, get in touch with your retailer - it could save you money. 

New connection pricing 

Charges for new electricity connections differ for standard vs non-standard jobs.  Click here for more information on electricity connections.

Project pricing

Detailed information on contributions can be found in Vector’s Policy for determining capital contributions on Vector’s electricity distribution networks.