Understanding Peak vs Off-Peak Electricity Rates in NZ

What Are Peak & Off-Peak Rates?

Electricity rates in New Zealand vary throughout the day based on demand. Understanding these different rate periods can help you save significantly on your power bills:

• Peak rates: Higher prices during high-demand periods
• Off-peak rates: Lower prices during low-demand periods
• Shoulder rates: Medium prices during transition periods

Understanding Peak Times

Typical peak periods in New Zealand are:

• Morning: 7am - 9am
• Evening: 5pm - 9pm
• Winter peaks are typically higher due to increased heating demand

Off-peak periods usually include:

• Late evening: 9pm - 7am
• Middle of the day: 9am - 5pm
• Weekends (with some providers)

Maximizing Savings

To make the most of peak and off-peak rates:

• Run major appliances during off-peak hours
• Use timers for water heating and other high-consumption devices
• Schedule EV charging for off-peak periods
• Consider a smart meter to track usage patterns

Role of Smart Meters

Smart meters are essential for time-of-use pricing:

• Accurate tracking of when electricity is used
• Real-time usage monitoring
• Automated meter readings
• Access to detailed usage data

Provider Comparison

Different providers offer various time-of-use plans:

• Electric Kiwi's "Hour of Power"
• Mercury's "Off-Peak Saver"
• Contact's "Time of Use"
• Meridian's "Day/Night Rate"

Compare plans using our comparison tool.

Usage Tips

Practical ways to benefit from time-of-use rates:

• Set dishwashers and washing machines to run overnight
• Use timer functions on heat pumps
• Install a hot water timer
• Monitor usage patterns with a smart meter app