This is a special message for our customers…
As you know, one key feature of Flick’s proposition is allowing direct access to the wholesale spot market, an option usually only reserved for large industrial consumers of electricity.
Access to the wholesale spot market comes with its share of risks and rewards, and as part of this we have a compliance requirement to inform you of some key associated risks by sharing information around what the industry refers to as a “stress test”.
You can find information about the stress test on the Electricity Authority’s website here (http://www.ea.govt.nz/operations/wholesale/spot-pricing/stress-tests/large-scale-consumer-stress-tests/)
Note that this industry stress test information assumes you are a large consumer of electricity, so you may find it’s not highly relevant to you as a residential customer (yet we are required to tell you about it).
As Flick is offering access to the wholesale spot market to residential customers for the first time, the industry is yet to develop a residential version of the stress test. We are working on a version that hopefully will help explain these risks a little better, and we’ll share this with you when it is ready. In the meantime, you can read more about our prices on our website (https://www.flickelectric.co.nz/hello/#honest-price)
As always, if you have any questions just give us a bell on 0800 2 FLICK.