Tuesday, 14 August 2012

Switch your power company

Are you opposed to the Government’s plan of privatising State Owned Assets?

If you get your electricity from Mercury Energy you can help stop the Asset Sales by changing power companies.

Why switch off Mercury Energy?

Mercury Energy is the main retail brand of Mighty River Power, a publicly owned State Asset that the Government is selling.
If Mercury Energy loses customers it will make Mighty River Power a risky investment and put off investors. Would you invest in a company that is losing customers?
It can also save you money!

How can switching off from Mercury Energy help the fight against Asset Sales?

The current National-led Government intends to sell off Mighty River Power (which owns Mercury Energy) in September this year.
Mighty River Power’s value and share price is mainly based on the prospect of future profits. Any real threat to profits will make Mighty River a risky investment.
Investors won't want to buy if there’s a risk the shares will fall instead of rise, as happened with Facebook shares recently.
If not enough investors buy shares, or the price is lower than expected they probably won’t sell Mighty River Power.
It will also raise serious questions about the Government’s authority and ability to privatise other publicly-owned assets.

What’s involved in switching to a new power company?

Switching power companies is very easy. It is free to switch, takes only 5 minutes and can be done over the phone or online. All you have to do is contact your preferred company, give them your details and they will then do all the work for you.

Most companies will offer you a cheaper rate than what you currently get with Mercury Energy. This means you're likely to save money by switching! The electricity will still be exactly the same; the only difference will be that your Power Bill will come from a different company. Switching to a different power company will not affect your AECT rebate.

One of the easiest ways to switch is online at www.powerswitch.org.nz. This free service lists retailers by price and makes comparing different power companies easy.

Switching off Mercury Energy can save you money!

Privately-owned electricity companies are on average $275 more expensive per year than the publicly-owned SOE electricity companies.

Once Mighty River Power is privatised it will be legally obliged to meet the interests of their private shareholders and lift their profits.

Mercury Energy will most likely increase their prices after being sold which will make electricity more expensive for their customers. Already Mercury Energy is one of the more expensive providers.

Your household can save money and help fight asset sales by switching. We recommend one of the four publicly-owned retailers listed below.

Genesis Energy: ph 0800 300 400

Meridian Energy: ph 0800 496 496

Powershop: ph 0800 1000 60

Energy Online: ph 0800 086 400

Privately owned Contact Energy, Empower and TrustPower should be be avoided as they are privately-owned.

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