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Meridian Energy Review - Prices, Discounts, Deals, Tariffs and Fees

Our guide explains Meridian Energy's pricing, bonuses, contracts, pros and cons and must-know facts, and how it compares to other power companies for residents of Auckland, Hamilton, Wellington, Christchurch and Dunedin.
Updated 15 August 2024
Meridian​ Energy in a Nutshell
  • Meridian Energy is New Zealand’s fifth-largest electricity retailer by market share and is 51% state owned. Meridian sells electricity to its customers in New Zealand through two brands – Meridian and Powershop. Meridian has 200,000+ customers all around New Zealand.
  • Plans and Pricing: Meridian Energy offers four plans, the "2-Year Contract", the “No Fixed-Term Contract”, the “Bach Plan” aimed at holiday houses and the "EV Plan" which offers a $200 sign up credit (or AC charging cable) and cheap rates at night . If you are generating solar or wind power, you can sell it to Meridian and get a discount on your bill.
  • Our power company comparison research concluded that Meridian offers market-average pricing for both low and standard users in Auckland, Hamilton, Wellington, Christchurch and Dunedin based on our sampling. Sister brand Powershop was, according to our analysis, much more competitive. However Meridian offers "area" quotes, and this may mean there is a slight difference in prices. To know for sure, Meridian requires you to contact them for a custom quote.

Our review: To help you understand how Meridian Energy works and the pros and cons of their plans, our guide covers:
  1. Meridian Energy Prices 
  2. Meridian Energy Plans
  3. Our Conclusion
  4. ​Frequently Asked Questions

1. Meridian Energy Prices

Our Price Comparison Research and Results:
  • We have reviewed Meridian's prices in detail. However, the price quoted online via the Meridian website is based on the average power use in your area for the month in which you got the online rate from the website. It is based on Meridian's variable pricing plan. If you want a personalised quote (for their fixed-pricing plans), you need to contact Meridian via phone, email or webchat.

Meridian explains this in their words:
"Just a heads up – the price above is based on the average power use in your area. But of course, everyone’s different. So if you’d like a personalised quote, we’re happy to help. Give us a call on 0800 496 496 or message our webchat (the bubble at the bottom right of your screen)". 

And further details include:
"Here are the finer details about your price estimate.
  • It’s based on our variable pricing plan. We offer fixed pricing plans, too – give us a bell if you’d like to know more.
  • It includes GST. Heaps of other power companies don’t include GST on their quotes so if you’re comparing, make sure you keep that in mind.
  • It’s for electricity only. We don’t supply gas but we can sort your electricity and help put you in touch with providers who can help with your gas needs.
  • Your actual bill might be more or less than this, depending on things like the size of your house, insulation, and how many people are living there.
  • If the information we've used for this price estimate isn’t quite right (for example, if the reported meter setup is different to your actual setup), we may need to adjust your charges".  

Our results: When we sampled across Auckland, Hamilton, Wellington, Christchurch and Dunedin, we present Meridian's prices based on the above disclaimers the company makes. While we believe this is relevant for the pricing comparison given the focus on the "area" submitted. We suggest you compare and extract a custom quote for your home and factor in any relevant details.

How green is Meridian Energy?

All the electricity generated by Meridian Energy comes from 100% renewable sources such as wind, water, and sun. In fact, Meridian generates approximately 30% of NZ power, most of it from its hydropower stations located at Waitaki and Manapōuri responsible for producing over 13,000 GWh/year. In addition, Meridian also owns and operates several wind farms located at Brooklyn, White Hill, West Wind, Mill Creek. Te Āpiti, and Te Uku.
 
Additionally, Meridian also sells its surplus power to New Zealand wholesale electricity market so that other small retailers can get “clean power”.

2. Meridian Energy Plans - "2-Year contract" vs “No Fixed-Term contract” vs “Bach” vs "EV" (Electric Vehicle) Plans

Meridian Energy is currently offering four residential plans, the 2-Year Contract, the No Fixed-Term Contract, the EV Plan and the Bach Plan. The "2-Year Contract", and the “No Fixed-Term Contract” plans are available for standard and low users whereas the Bach plan, being usage-based, does not apply to conventional user schemes.

Regarding the Fixed Rate Plan, according to your address, it could be available in three variants: 
  • Super Saver Plan, which is available with two or three years contracts
  • Everyday Economy Plan, which has a two-year contract
  • Smart Value Plan, which also has a two-year contract
 
Daily and variable charges may vary from one variant to another depending on the area of New Zealand where you live and the type of meter you have installed (conventional or smart meter).

Meridian Energy No Fixed-Term Contract Plan Review

  • Meridian’s Stay Flexi Plan is aimed at both low and standard users, looking for an open-term variable pricing plan with no strings attached
  • To get the most out of this plan, you should have a smart meter installed on your premise 
 
The Pros:​
  1. Utmost flexibility, no fixed terms or early cancellation fees
  2. If you have a smart meter installed in your household then you can track your power consumption and check your power bill by using the Meridian app.

The Cons:
  1. This plan does not include any discounts
  2. Rates can vary without notice from one bill to another

Meridian Energy Fixed Rate Plan Review

  • Meridian Energy Fixed Rate Plan is aimed at people that prefer paying lower daily and variable charges despite being tied to a long-term contract
  • The Fixed Rate Plan offers Meridian Energy’s lowest daily and variable rates for a 24-month or 36-month period
  • Contrary to other electricity retailers in NZ, Meridian does not charge exit fees in its fixed-term plan, but you have to give back the sign-up credit if you terminate before the end of the contract
 
The Pros: 
  1. Meridian Energy's lowest rates fixed for 24 or 36 months (depending on the Fixed Rate Plan variant)
  2. Special joining offers ( joining credit or 12 weekends of free power)
  3. No early cancellation fees (other than being charged the welcome credit - if applicable)

Cons: 
  1. To get the most out of this plan you must have a smart meter installed on your premise
  2. You must meet Meridian’s standard customer eligibility criteria to be accepted as a client
 
Be aware: 

Meridian Energy Bach Plan Review

  • As its name implies, Meridian Energy’s Bach Plan is designed for bach and cribs around NZ that are only used a few weeks per year
  • This contract has no daily charge, you only pay for the electricity you use
  • The Bach Plan has no termination fee
 
The Pros:​
  1. No daily fixed charges, which might translate into potential savings depending on your annual power consumption
  2. You only pay for what you use, in other words, only variable charges apply
  3. No early termination fees, however, some conditions apply (see below)
 
The Cons: 
  1. This plan has a higher variable rate when compared to other Meridian plans.
  2. Meridian suggest choosing this plan only if your annual power consumption is below 3,000 kWh per year.
  3. In order to be eligible for the Bach Plan, Meridian must supply electricity to your main residence
 
Be aware: 
  • Although this plan has no exit fee, if Meridian no longer provides electricity to your primary residence, your Bach will automatically be placed on the Stay Flexi Plan

EV Plan Review

As the name suggests, this plan is suitable for people who own a plug-in electric car as it provides cheaper rates for night time-charging, plus added benefits like a free smart meter installation and a generous sign-up bonus. This is a plan designed for a Day/Night meter but you can contact Meridian if you are interested in the plan but have a different set up.

The Pros:
  1. $200 Credit (or an AC charging cable)
  2. Energy prices locked in for two years
  3. Cheap night prices (9pm to 7am) on selected networks (Vector, Wellington Electricity, Orion, Powerco, Aurora, Unison) you can check what network you’re on here
  4. Free smart meter installation (if you don’t have one already)
 
The Cons:
  1. Fixed-term contract
  2. $200 credit is charged back to your bill if you cancel the plan before the end of the contract 

3. Meridian Energy Conclusion - Plan comparison

To determine which plan best suits your needs, you’ll need to consider the following: 
  • Lifestyle and convenience: Meridian's plans are aimed at kiwis with different mindsets. For example:
  • The 2-Year Contract (in any of its variants) is aimed at people looking for the best electricity rates. One unique advantage of this plan is that you can switch to another provider without paying an early cancellation fee (but you do have to give back any sign-up bonus you may have received if you cancel early). So, there's no risk in signing up for a two-year contract and benefit from its lower rates.
  • The Stay Flexi Plan, on the other hand, arguably may appeal to renters or landlords that want to avoid the hassle associated with cancelling a fixed-term contract.
  • The Bach Plan, it is very simple. If your crib consumes below 3,000 kWh/year (and your main residence is powered by Meridian) you can take advantage of its variable rates.
  • Finally, if you have a plug-in Electric Vehicle, then you can benefit from Meridian's Electric Car Plan with its generous sign-up bonus and low night energy rates.
  • Additional benefits: In addition to the $ 200 welcome credit offered by the Fixed Rate Plan, there are no additional benefits that differentiate this plan from the Stay Flexi Plan. Unlike other electricity providers, Meridian does not offer other services (such as gas or broadband) so it is not able to offer discounts on these types of services either. So basically, your decision comes down to whether or not you want to commit to a fixed term plan.

4. Meridian Energy Frequently Asked Questions

To help you decide if Meridian Energy is right for your home, we've published a number of frequently asked questions.

What does Meridian Energy cost per month, and is it the cheapest?

What you pay depends on where you live, how much energy you use and what plan you're on. Our electricity comparison guide has more information about estimated costs and how it compares to other companies.

Is Meridian Energy available at my address?

Most likely - you'll need to type in your address to see if you're covered.

What does a Meridian Energy bill look like, and how do I pay?

This page explains how the bill appears, what everything means and when it's due. Meridian Energy accepts direct debits and credit cards - your can read more from their ways to pay your power bill guide

Does Meridian Energy use renewable sources of electricity?

Yes, 100% of the energy generated by Meridian comes from renewable sources. Matter of fact, Meridian leads New Zealand hydropower generation, since Waitaki and Manapōuri power stations generate around 50% of NZ’s total hydro.
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