Utilise Spot + Cap wholesale delivers electricity at prices straight from the wholesale market using innovative smart meter technology, powerful pricing software and fixed retail costs. Additional insurance means that your average monthly price will never exceed a pre-agreed cap.
Our power supply comes straight from the wholesale market at wholesale prices, that will never go through the roof, delivered to your meter.
The Utilise online portal and bill are easily accessible with a clear break down of individual billing components, including our fees.
Third party costs including network charges, metering costs and EA levy are passed on without a markup.
Every power retailer buys from the ‘spot’ or wholesale market. Pricing is driven by demand and supply in real time, so it is dynamic; changing depending on the place and time. Check out Market Spot Prices in real time at www.electricityinfo.co.nz.
Based on data available at https://www2.electricityinfo.co.nz/.
This graph shows New Zealand’s average monthly spot prices for the last five years.
While these prices have decreased, there have been a few periods of high pricing. The graph shows how a cap would limit the average monthly price paid, while also enabling the benefit of lower spot prices at other times.
The costs of supplying you in this way include:
1. The cost of energy which is your metered volume multiplied by the wholesale price at your meter (spot price adjusted for the costs of delivering it to your meter)
2. The cost of the insurance which is your metered volume multiplied by the cap premium (this price is related to your cap price)
3. The cost we pay to your network company to provide the lines that carry the energy. This is a regulated cost and applies to everybody without discrimination. Also included is the cost of the Transpower grid to get the energy to your region. These are all passed through at cost.
4. The cost of metering to measure your consumption, including any costs of equipment at your point of connection. These costs are all passed through at cost from third-party providers.
5. The costs to manage your supply. These are costs paid to Utilise for reading meters, reconciling and buying from the wholesale market, billing and customer service. These costs are all charged to you at a fixed rate.
Please see our Special Conditions for Spot Wholesale here.
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