One of the things that drove us to launch Flick Electric Co. was complete frustration with the way the big guys serve their customers. Despite there being 17 other power companies in the market, not one of them has shaken up the stale method of selling power to kiwis. Everyone offers a flat price that bundles up the cost of supplying a property with the retailer margin. And without any choice, consumers find themselves having to choose the retailer that’s annoyed them the least in the past.
The worst thing about lack of genuine competition is that consumers end up worse off. Not only in the way they get serviced, but in the price they pay too.
We’ve just launched in Manawatu and Taranaki. In Manawatu, PowerSwitch (the power price comparison website run by Consumer NZ) is showing that we’re $400 cheaper p.a. than other retailers for a property with 3 or 4 residents who spend the day away from home and only use electricity. The same search yields a $360 price advantage for consumers who are with Flick in South Taranaki.
To be blunt, this tells us is that a lack of genuine differentiation and competition in these areas has meant the incumbents have been riding a profit wave at the consumer’s expense. It’s about time someone challenged the tried and true way of doing things, and delivered better prices to consumers. Enter Flick.
By paying a flat rate – the only choice consumers have had in the past – consumers are forced to effectively insure their electricity purchase against changing market conditions. And pay the premium for that insurance.
Instead we pass through the actual market costs of supply, including the spot market rate for the power you consume, because modelling five years of data shows that the low prices outweigh the high prices and just by riding the market consumers will be better off (you can read more about how it all works on our website).
If you’re in the Manawatu or Taranaki and are interested in hearing more about what we offer you can call us on 0800 4 FLICK.
You deserve better Manawatu.