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

Our guide explains Nova 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

Nova Energy in a Nutshell

Nova Energy is one of New Zealand’s largest electricity retailers; regarding who owns the company, Nova Energy is part of the Todd Corporation which is owned and controlled by the Todd family.
As a leading nationwide electricity retailer, Nova Energy provides electricity to more than 90,000 Single Installation Control Points (ICPs) and is the 7th largest power company.
Plans and Pricing: Nova Energy offers two core plans, based on energy consumption: the Low User Plan, for households that use less 8,000 kWh per year (9,000 kWh in the lower South Island) and the Standard User Plan for households with energy needs above that threshold. If you are generating your own power, you can also opt for Nova’s Solar initiative and sell your surplus energy back to the grid and save on your bill.
Our power company comparison research concluded that Nova Energy offers market-average pricing for both low and standard users in Auckland, Hamilton, Wellington, Christchurch and Dunedin based on our sampling. Nova is neither cheap or expensive - it's average based on our sampling.

Our review: To help you understand how Nova Energy works and the pros and cons of their plans, our guide covers

1. Nova Energy Prices

Our Price Comparison Research and Results:

Our latest research revealed that Nova Energy's plans offered a middle-of-the-road offering for both low and standard users in Auckland, Hamilton, Wellington, Christchurch and Dunedin. Better deals are most probably found with other providers - despite a significant customer base, we take the view Nova isn't price competitive for the research locations we surveyed.
Compare Nova's prices with the rest of the market here.

How green is Nova Energy?

Despite owning and operating several hydroelectric and geothermal power stations across New Zealand, most of the energy generated by Nova comes from cogeneration power stations using natural gas as fuel.

2. Nova Energy Plans

Nova offers two simple plans, related to the amount of energy you need. If your consumption is below 8,000 kWh per year (or 9,000 kWh in the lower South Island), the Low user plan is probably the better option for you, and the Standard plan would be better if your consumption is above that. We look at Nova’s plans in more detail below.

Nova Energy Low User Plan Review

This plan is aimed at energy efficient or smaller households use less than 8,000 kWh per year (9,000 kWh in the lower South Island). This plan is not applicable for holiday homes, or separate connections such as pumps or sheds.

The Pros:

Low daily fixed charge compared to the standard plan
No fixed-term contracts, no exit fees

The Cons:

Slightly higher variable prices than on the standard plan
A late payment fee of $25 may be applied if the bill is not paid on time

Be aware:

You might benefit from better prices on gas and broadband with Nova’s Multisaver combos. No discount applies on electicity rates, but if you have more than one of the services they offer (electricity, gas, broadband) you receive a discount on gas or broadband services.

Nova Energy Standard User Plan Review

This plan is aimed at households that require more than 8,000 kWh per year (9,000 kWh in the lower South Island)

The Pros:

Low variable charge compared to the low user plan
No fixed-term contracts, no exit fees

The Cons:

Higher fixed daily charge than on the low user plan
A late payment fee of $25 may be applied if the bill is not paid on time

Be aware:

You might benefit from better prices on gas and broadband with Nova’s Multisaver combos. No discount applies on electricity rates, but if you have more than one of the services they offer (electricity, gas, broadband) you receive a discount on gas or broadband

3. Nova Energy Conclusion

To determine which plan best suits your needs, you’ll need to consider the following:

Total energy consumption (kWh) per year: The choice between the plans offered by Nova Energy will depend on your annual usage. Kiwi households consuming below 8,000 kWh/year (9,000 kWh/year for southern regions of South Island) can benefit more from the Low User Plan whereas families consuming more power can benefit more from Nova’s Standard User Plan.
Flexibility and convenience: Both of the plans offered by Nova Energy have the same benefits, the only difference between them are the fixed daily charge and variable rates, there are no perks for being on any of the plans.
Additional benefits: If you were to take out broadband and or gas along with your electricity, you would benefit from Nova’s Multisaver combos.

4. Nova Energy Frequently Asked Questions

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

What does Nova 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 Nova Energy available at my address?

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

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

Nova Energy doesn’t show a sample bill on their website, but they describe what payment methods are available. They offer weekly, fortnightly, or monthly payment options, subject to eligibility criteria. There’s also a Smoothpay option, which averages out your bills, allowing you to pay equal amounts spread over the year.

Does Nova Energy use renewable sources of electricity?

Yes, Nova uses renewable energy sources, but only as a complement to its gas-based power stations.

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