To be eligible for Powershop’s Guaranteed Savings offer you must:
- be a new residential Powershop customer who has not been a Powershop customer within the last 12 months; and
- initiate your switch to Powershop after Monday 27 November and before 22 December 2023; and
- email your most recent bill from your previous power company (this must have been issued within the last three months for your main home) (Competitor’s Bill) to savings@powershop.co.nz before Friday 12 January 2024.
Subject to these terms and conditions, we guarantee that, compared to the Competitor’s Bill, you’ll save at least $150 with Powershop over your first year, commencing on the date your switch to Powershop is completed (“Guaranteed Savings Period”). The Competitor’s Bill supplied must be from within the last 3 months and must be emailed to savings@powershop.co.nz. Guaranteed Savings will only be offered against retailers with published rates; we will not guarantee savings against Competitors’ Bills where the rates in those bills are based on real time spot market pricing.
Your Guaranteed Savings offer is based on the actual cost paid for your electricity with Powershop over the Guaranteed Savings Period for your main home, when compared to the cost of the same amount of electricity for that same period using the rates in the Competitor’s Bill. Guaranteed Savings only applies against the rates offered by the competitor, and does not apply to any additional incentives (like cash, credit, product offers or other sign up deals) that the competitor may offer. Guaranteed Savings calculations exclude any payments made by Powershop or the competitor for exported generation eg solar.
For customers with access to Powershop’s online “shop”, some Powershop products are priced at a premium. The additional cost of these products (above your Standard Power rate) is excluded from the Guaranteed Savings calculations. This means that when we calculate your spend for the purposes of Guaranteed Savings, we will use your Standard Power rate for any premium products you purchase during your Guaranteed Savings Period.
At the first Account Review (billing period closure) following the end of your Guaranteed Savings Period, we will complete a full review to make sure that you’ve saved what we promised. In calculating your Guaranteed Savings, we will exclude any additional incentives competitors may offer such as sign-up credits, but will include any Powershop sign-up credit offered during your first year. If you’ve met these terms and conditions, and you haven’t saved at least $150 with us, then we’ll put a credit on your account to make good on our guarantee.
Any credit due will be applied to your Powershop account in the first Account Review following the end of your Guaranteed Savings Period. As credits can only be applied to active Powershop accounts, you must be a customer of Powershop at the time of this Account Review to receive the credit. Should you close your Powershop account prior to this Account Review you forfeit the right to any credit due to you under this offer.
This Guaranteed Savings offer does not apply if within your Guaranteed Savings Period:
- you do not supply a valid Competitor’s Bill for your main home;
- you switch away from Powershop or move to a new property supplied by Powershop before the end of your Guaranteed Savings Period;
- we reasonably believe, after viewing the Competitor’s Bill, that the rates in the bill are not genuine;
- we reasonably believe the property in question is not, or has ceased to be, your main home during the Guaranteed Savings Period;
- at the time we calculate your Guaranteed Savings you owe Powershop more than $100 which is at least 60 days overdue (whether on this property or another property).
If your metering configuration changes through the year (whether due to a change you request, an error we discover, or for any other reason) then we will endeavour to replicate the price you would have paid for your power under the Competitor’s Bill by using a usage-based weighted average of the Competitor’s rates and applying this to your new metering configuration. We may decline to offer you Guaranteed Savings where we have advised you that your current, or requested, meter configuration will cost you more, and we have recommended an alternative configuration which you have declined.
This Guaranteed Savings offer is per residential account and, unless otherwise specified by Powershop (in its sole discretion), is not available in conjunction with any other promotional offers available through Powershop from time to time. This offer is only available while it is visible on this webpage. Powershop, at its sole discretion, may amend or cease to offer Guaranteed Savings at any time without notice. In such event, any Guaranteed Savings Periods, which commenced prior to the date Powershop ceased to offer them, will continue to be honoured.