Genesis Energy｜Is it the best NZ power company for you?

This page give you the best answers for the following questions;

• What is Genesis Energy?
• What kinds of services Genesis Energy is offering?
• Should I made a contract with the Genesis Energy for power/electricity?
• What is advantages and disadvantages of Genesis Energy?

This page is the best for you to understand about these types of questions.

I’m going to explain about Genesis Energy one by one as below.

1. What is Genesis Energy?
2. What is the advantages of Genesis Energy?
3. What is the disadvantages of Genesis Energy?
4. Which power company is the best for you?【plus comparison table】

If you read this page, you can easily understand what Genesis Energy is and whether Genesis Energy is the best company for you or not.

 

1. What is Genesis Energy?

source: Genesis Energy

Genesis Energy is the biggest power company in the New Zealand’s electricity industry.

Genesis Energy is very stable company, because The New Zealand Government has a 51% share of the company.

And, Genesis Energy supplies electricity, gas, solar and electric vehicles.

Head Office	Auckland
Operate from	1998
Main Shareholders	51%: New Zealand Government 3%: HSBC Nominees (New Zealand) Ltd 3%: Citibank (New Zealand) Ltd
Services	Electricity Gas Solar Electric vehicles
Service area	North Island: Electricity, Gas and etc South Island: Electricity only
Customer (electricity)	around 490,000 customers
Market share (electricity)	No.1 in the NZ’s electric market
Number of employee	around 860 employees

Top5 power companies (“Big5”) in New Zealand

Company name	Customer (ICP count*)	Market share (ICP share)
Genesis Energy	490,000	22%
Contact Energy	420,000	19%
Meridian Energy	340,000	15%
Mercury NZ	330,000	15%
Trustpower	270,000	12%

(*) ICP (Installation Control Point) : Each property has a unique ICP number identifying it on the New Zealand electricity network.
(*) ICP count : the total number of ICP

(source: Electricity Authority, as of March 2021)

2. What is the advantages of Genesis Energy?

Based on my research, the 3 advantages of Genesis Energy are as below.

1. One stop shop for electricity, gas and etc.
2. Stable operation as a big company.
3. You can get rewards (“credit”).

Details of the advantage are as below.

2-1. One stop shop for electricity, gas and etc

Genesis Energy is one of the major providers for electricity, gas, solar and electric vehicles.

source: Genesis Energy

So, if you choose Genesis Energy, it’s very easy and convenient for you to arrange these services all at once.

Once you input your address in the following form, you can get the electric plan information.

source: Genesis Energy

Next, after you input [Home or Business] and [the number of the adult and children in your house], you can get the electric plan you can choose as below.

source: Genesis Energy

It takes only 1-3 minutes to check the electric plans.

So please try it now from the following click button, if you like!!

2-2. Stable operation as a big company

Genesis Energy is the biggest power company, and has strong relationship with The New Zealand Government.

So you don’t need to worry about the credibility as a provider, and Genesis Energy will keep providing the electricity, gas etc in the future, too.

Also, Genesis Energy has own power generation facilities, and the installed capacities are as below.

• Gas/Coal　　：   954MW
• Hydroelectric：   687MW
• Wind　　　　：       7MW
• Total             ：1,648MW

2-3. You can get rewards (“credit”).

source: Genesis Energy

Genesis Energy give some rewards (“credit”) for you.

• Get a $50 credit, if you sign up for 1 year contract.
• Extra $50 credit, if you add natural gas or bottled gas

So you can get the discount from your electric bill.

3. What is the disadvantages of Genesis Energy?

Based on my research, the 2 disadvantages of Genesis Energy are as below.

1. No broadband service.
2. Basically smaller power companies have “better customer satisfaction”

The details of the disadvantages are as below.

3-1. No broadband service

If you need an electricity plan and broadband plan (as a set plan / as a bundle plan), Genesis Energy does not suit for you because of no broadband service.

The following companies offer both of an electricity plan and broadband plan, so please check their official websites, if you like.

• Contact Energy・・・One of “Big5”
• Trustpower・・・One of “Big5”
• Nova Energy・・・Smaller power company, but “Good customer satisfaction”

3-2. Basically smaller power companies have “better customer satisfaction”

Unfortunately there is no data of Genesis Energy, but here is a result of the survey “Customer Satisfaction with power companies” conducted by Consumer NZ in 2020.

(*) Consumer NZ is an independent, non-profit organisation to offer New Zealanders a fairer deal and established in 1959.

source: Consumer NZ

As above, 3 of the smaller and newer power companies have higher customer satisfaction, but 2 of the “Big5” have lower one.

Actually, the average of the electric industry is only “52%”, because mainly most of the people feel that electric cost is too expensive.

Q. Which companies have better customer satisfaction?

So I recommend to check the following companies with better customer’s satisfaction/review.

• Flick Electric：Electricity only.
• Nova Energy：Electricity, gas and broadband.
• Electric Kiwi：Electricity only.

I’ll explain about “Flick Electric” soon in this page.

Important: Some plans offer “1 year fixed-term contract”

Genesis Energy’s some plans for electricity, gas and etc are “1 year fixed-term contract”.

So you need to know that if you end the contract within 1 years, you have to pay a “breaking fee” ($150).

Please take care about the breaking fee to save your money.

4. Which power company is the best for you?【plus comparison table】

It is important to think about [customer satisfaction] or [cheapest price in the area you live in], when you choose a power company.

I recommend that you should choose a company

• [Best customer satisfaction]・・To choose “Flick Electric“.
• [Cheapest price]・・Use “Powerswitch” and find the cheapest plan for you.

Also, I’ll show you a comparison table of the most popular 10 power companies in NZ at the end of this part.

4-1. [Best customer satisfaction] ・・Choose “Flick Electric”

Flick Electric is a smaller power company, and the first energy retailer started from 2014.

Flick Electric buys cheaper power directly from the wholesale electricity market, and offer electricity with cheaper cost than big power companies.

It is very important that Flick Electric is the No.1 company based on the survey for customer satisfaction of power companies, so you don’t need to worry about the electric bill any more.

Flick Electric is 100% has partnership with Z Energy since 2018, so I believe that Flick Electric has enough credit to make a contract.

Head Office	Wellington
Operate from	2014
Main Shareholders	100%: Z Energy Limited (established in 1959)
Service are	Electricity only
Customer (electricity)	26,000
Market share (electricity)	roughly 1% share in the NZ’s electric market
Number of employee	–
Payment Method	Weekly, Fortnightly, Monthly Bank transfer or Credit card

4-2. [Cheapest price]・・Use “Powerswitch”

Powerswitch is the best way for you to find the cheapest electric plan.

source: Powerswitch

Powerswitch is the best website in New Zealand to find which power company and pricing plan is the cheapest for you.

What you have to do is just to input some information (your address, number of your family, type of heating products/systems you use and etc), then you can get to know the cheapest plan.

For example, the result will come up as a list such as the following image.

source: Powerswitch

So, it’s very easy to understand that which company and plan you should choose.

(*) If you want to know more details about Powerswith, please check another page “What is POWERSWITCH? The best way to find the cheapest electricity plan“.

4-3. Comparison table of the most popular 10 power companies in NZ

It’s good for you to get to know the difference between Genesis Energy and other popular electric providers.

(*) You can scroll the following chart left to right.

source: Electricity Authority (as of March 2021)

6. Summary

Until here, I explained about Genesis Energy‘s advantages and disadvantages, the difference between Genesis Energy and other main power companies in NZ – is it useful for you?

As a summary, I write down about the main points of this page as below.

• Genesis Energy is the biggest power company in NZ.
• Genesis Energy is one stop shop for electricity, gas, solar and electric vehicles.
• Smaller and newer power companies have better customer satisfaction.

And, I recommend the following power companies and website, so please check it !!

• “Flick Electric“・・・Best customer satisfaction of NZ’s power companies.
• “Powerswitch“・・・You can get to know the cheapest electric plan in the area you live in.

Many thanks to read this page.

Please let your family and friends about this page, if you like.