Electricity and Gas Update: Navigating 2024’s High Prices
If you’ve noticed your electricity bills creeping up this year, you’re not alone. In 2024, electricity pricing in New Zealand has seen a significant increase, and several factors are contributing to this trend.
What’s Driving Up Prices?
New Zealand’s reliance on hydro power is both a strength and a vulnerability. When hydro lake levels are healthy, electricity generation is efficient and cost-effective. However, this year’s lower lake levels have meant that the country has had to turn more to fossil fuel generation, which is notably more expensive. Additionally, a reduced gas supply and higher overall demand have further strained the system, leading to the price increases we’re seeing.
Grey Power Electricity: Standing by Our Members
At Grey Power Electricity, we understand the impact these rising costs can have, especially on our senior community. That’s why we’ve been working hard to keep pricing as stable as possible for our members. We achieve this by purchasing electricity hedges well in advance and leveraging generation assets from our Group, ensuring that we can offer competitive prices.
Support When You Need It Most
We know that 2024 has been a tough year, with more and more people struggling to pay their power bills. In response, Grey Power Electricity has been proactive in providing support to those experiencing energy hardship. Our Pay it Forward Programme has already assisted thousands of customers, helping them manage their energy costs. If you’re a Grey Power Electricity customer and finding it hard to keep up with your bills, don’t hesitate to reach out to our team. We’re here to help you determine if you’re eligible for support.
A Partnership That Makes a Difference
Grey Power Electricity is proud to be the longest-standing commercial partner of the Grey Power Federation. Since our partnership began in 2013, we’ve contributed over $2 million to the Federation. These funds are crucial in helping us continue to run and support the Grey Power community across New Zealand.
As we navigate these challenging times, Grey Power Electricity remains committed to standing by our members and providing the support you need. If you’re struggling, remember that you’re not alone reach out, and let’s get through this together.

 

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