Powershop
 | |
| Type of business | Subsidiary |
|---|---|
| Founded | 2007 |
| Headquarters | , |
| Area served | In New Zealand: Auckland, Hamilton, Tauranga, Rotorua, Taupo, Napier, New Plymouth, Wanganui, Palmerston North, Wairarapa, Wellington, Christchurch, Dunedin, Queenstown, Invercargill |
| Founder(s) | Ari Sargent |
| Key people | Margaret Cooney, Head of Powershop |
| Industry | Electricity retailing |
| Products | Electricity |
| Employees | Over 200 |
| Parent | Meridian Energy Limited |
| URL | powershop |
 | |
| Founded | 2012 |
|---|---|
| Headquarters | , Australia |
| Area served | In Australia: Victoria, New South Wales, South East Queensland and South Australia. |
| Key people | Ed McManus, CEO |
| Industry | Electricity retailing |
| Products | Electricity & Gas |
| Employees | 150 |
| Parent | Meridian Energy Limited |
| URL | powershop |
| |
| Founded | 2016 |
|---|---|
| Headquarters | , United Kingdom |
| Area served | In the United Kingdom: England, Wales and Southern Scotland |
| Key people | David Winter, Head of Powershop UK |
| Industry | Energy retailing (Electricity, Gas) |
| Products | Electricity, Gas |
| Employees | 10–50 |
| Parent | NPower |
| URL | powershop |
Powershop is an online electricity retailer, founded in New Zealand and also available in Australia and the United Kingdom. Powershop is a subsidiary of Meridian Energy which is 51% owned by the New Zealand government. The retailer operates through an online platform offering pre-pay and post-pay options.
History
Meridian traditionally had been a major electricity generator, but only a small retailer.[1] In 2006, Ari Sargent, an electricity industry veteran, had an idea to increase Meridian's market share in the retail market: turn electricity from a utility into a consumer good.[2] Initially, it was planned to sell electricity tokens in supermarkets, but that idea was scrapped due to cost and they turned the idea to the Internet.
Sargent, with Simon Coley, a design specialist, founded Powershop in September 2007. In September 2008, Powershop bought its predecessor, Meridian Energy's Marketplace Innovations Business Unit, for NZ$1.26 million in stock.[3] After 14 months of private beta, it officially launched to the public on 22 February 2009 and was unofficially available in the weeks prior.[4]
Reception
Powershop planned on 4–50,000 customers in its first year.[5] Powershop achieved 5000 customers in October 2009,[6] and 10000 customers in February 2010.[7] CEO Ari Sargent blamed this on inertia and general distrust of power companies.[8] Energy expert Molly Melhuish claims that because "people are so terrified of their power bills", "a majority of people" wouldn't want to try a new concept like Powershop.[9] The Consumers' Institute of New Zealand welcomes initiatives to increase retail power competition.[10]
In a 2009 survey by the Ministry of Economic Development, Powershop was found to be the cheapest electricity retailer for the typical consumer (one who consumes 8000kWh/year) in Auckland, Wellington, Christchurch, Dunedin, Manawatu and New Plymouth. It was the second cheapest in Wanganui and Wairarapa.[11][12]
In Consumers' Institute of New Zealand's 2009 survey of electricity companies, Powershop gained the highest rating ever in the history of the survey. 92% of Powershop customers found it 'good' or 'very good'. It did not receive a single poor rating from any of its customers.[13] In 2010, it again received a 92% satisfaction rating. In 2011 and again in 2012, it gained a 96% customer satisfaction rating.[14]
It was the best company in Consumers' Institute of New Zealand's 2011 survey of electricity companies.[citation needed]
In Australia, Powershop is ranked 1st of 15 companies for customer service tracked by social media tracking website, servicerage.com.[15]
References
- ^ http://www.electricitycommission.govt.nz/pdfs/opdev/retail/regstats/regstatspdfs/percenticps/Oct09-Appendix1.html Archived 23 May 2010 at the Wayback Machine ICP per retailer 9 October – Electricity Commission
- ^ http://www.idealog.co.nz/magazine/20/power-trip
- ^ [1]
- ^ Juha Saarinen (17 February 2009). "Website plans to disrupt the power supply market". NZ Herald.
- ^ "Slow take-up to Powershop services". NZ Herald. 26 March 2009.
- ^ Powershop NZ [@powershop] (29 October 2009). "we have just hit the 5000 customer mark - we're stoked :)" (Tweet) – via Twitter.
- ^ Powershop NZ [@powershop] (15 February 2010). "we've popped the corks on the bubbles. we now have 10,000 customers. thanks for your support folks :)" (Tweet) – via Twitter.
- ^ https://www.webcitation.org/5jm6F6m2j?url=http://www.odt.co.nz/news/dunedin/73737/customers-reluctant-switch
- ^ "New power company promises no contracts, no line charges and no hassle". Campbell Live. TV3. 20 April 2009. Retrieved 20 April 2009.
- ^ "New way to buy power". Consumers' Institute of New Zealand. 25 February 2009. Retrieved 10 June 2009.
- ^ Churchouse, Nick (2 October 2009). "Powershop shown to be the cheapest". The Dominion Post. Retrieved 4 November 2011.
- ^ Quarterly Survey of Domestic Electricity Prices: Updated to 15 August 2009
- ^ [2] Archived 6 December 2009 at the Wayback Machine
- ^ "Archived copy". Archived from the original on 6 January 2010. Retrieved 3 December 2009.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ http://servicerage.com/energy