What is moving power prices in New Zealand right now (September 2026)

The hydro lakes were well supplied going into winter 2026. Household budgets were not. Consumer NZ says power prices have risen about 20% in two years, and on 22 September it handed Parliament a petition with 82,085 signatures asking for change. Here are the events of the last six months that explain the number on your bill, in date order, and what each one means for your household.

11 February 2026: a 5% rise forecast, lines charges climbing

Consumer NZ predicted power prices would rise about 5% in 2026, after about 12% in 2025. The main driver was lines charges, which make up just over a third of a typical bill and were expected to add about $5 a month on average through to 2029, varying by region. Heavy summer rain had lowered generation costs, but not enough to offset the networks.

Worth knowing: the lines part of your bill is set for your area and is the same whichever retailer you choose. The retailer’s margin and energy price are what you can compare.

March 2026: Billy launches

The Electricity Authority launched Billy, its own free comparison and switching service. By late September it had around 500,000 visits, more than 200,000 comparisons and over 8,500 switches started, covering plans for about 97% of homes.

In practice, there are now two independent comparison tools, Billy and Consumer NZ’s Powerswitch. Use either, or both, before you compare through us.

1 April 2026: the annual price change

Consumer NZ analysed 936 plan types from 14 retailers and found increases of 4% to 12%, or about $115 to $344 a year for a typical household. The Far North was hit hardest, with rises of $140 to $420 a year around Kerikeri, where prices were already about 20% above the national average. The same day, lines companies started paying rebates for exports at peak times to households with solar or batteries, under an Electricity Authority decision.

If you did not compare after April, your plan has probably not been checked against this year’s prices. A comparison takes a few minutes with your last bill.

May 2026: gas reserves at a record low, LNG prices up

MBIE’s 2026 petroleum reserves data showed New Zealand’s gas reserves at the lowest level since records began, down 24.6% in a year to 451.7 PJ, according to Gas Industry Co. The Middle East conflict pushed the LNG spot price from US$10.44 per GJ in January to US$17.61 in May, up 68.7%. Rockgas, the largest LPG supplier, added temporary price adjustments of 4.1% in May and 3.8% in June.

The upshot: gas and bottled LPG are under price pressure. Gas also matters for power, because gas plants back up hydro in dry years.

27 May 2026: gas pipelines charge sooner

The Commerce Commission’s final gas default price path (DPP4) raised allowed revenue for gas pipeline businesses by speeding up depreciation, so infrastructure costs are recovered sooner from a shrinking pool of gas users.

Gas network charges are more likely to rise than fall. If your gas appliance is near the end of its life, compare electric options.

June 2026: LNG terminal and a winter reliability obligation

The government is progressing plans for an LNG import terminal at Port Taranaki, which Gas Industry Co describes as a secure backup fuel for electricity generation in dry years, with a procurement process under way. It also announced a Winter Energy Reliability Obligation aimed at keeping back-up energy available for dry winters.

What it means at home: both aim to avoid price spikes like winter 2024’s. Who pays, and how much reaches power bills, is not settled.

1 July 2026: time-of-use plans become standard

Retailers with 5% or more of the market must now offer a plan with cheaper off-peak power, and plans that pay solar households a fair rate for exports at peak times had to be available by the same date. In July, Consumer NZ reported, 55.5% of switches through Powerswitch went to Electric Kiwi and 17.4% to Genesis.

If you can run appliances or charge an EV overnight, a time-of-use plan is worth a look. See our saving guide.

22 September 2026: low user plans end next April

The Electricity Authority wrote to lines companies as the low fixed charge regulations near their end on 1 April 2027, asking them to avoid sharp increases. The regulations capped daily charges on low user plans, with other customers paying more to cover them.

Bottom line for now: low users should expect higher daily charges from April 2027. Check your options now in our 2027 outlook.

22 September 2026: an 82,085-signature petition

The same day, Consumer NZ delivered its largest-ever petition to Parliament, received by Associate Energy Minister Shane Jones. It backs a four-point plan: more competition against the four big generator-retailers, prices that reflect the cost of renewable generation, more home-grown energy for dry years, and a cross-party energy strategy. Consumer NZ says more than 30,000 households were disconnected for non-payment last year and a quarter struggled to pay their bills.

Nothing changes on your bill yet. But power prices are now firmly political, and policy announcements before and after the election could shift the 2027 picture.

The next date that matters

Networks and gas are pushing costs up, while good hydro storage going into winter took some pressure off wholesale power. Consumer NZ calls power prices an election issue. The next big date for most households is 1 April 2027, when annual price changes and the end of low user plans land together. A free contract alert will remind you to look again.