Wise Prepay third new member for ERANZ in recent weeks

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Aug 1, 2017

Wise Prepay third new member for ERANZ in recent weeks

Prepaid electricity retailer Wise Prepay Energy has joined the New Zealand Electricity Retailers Association (ERANZ) – the third new member in recent weeks.

Wise Prepay follows spot price retailer Flick Electric Co, which joined the group in June, and electric vehicle charging infrastructure provider ChargeNet NZ, which joined the group in July. The addition of Flick increased ERANZ’s representation of electricity retailers by market share to 99.5 percent.

Wise Prepay, which had 2,115 customers at the end of May, is one of three retailers to offer the power of prepay to its customers, promoting their service with no deposit, no credit check, no contract. and no breakage fees. Customers who use prepayment avoid monthly surprise bills, get electricity on their terms, on budget, and top up when it’s convenient for them.

Other retailers to offer prepayment are the Mercury subsidiary GLOBUG, which only offers prepayment, while Contact Energy offers it as an option with regular contract plans. Genesis has a small prepaid customer base, but is no longer accepting new customers.

According to the Electricity Authority’s Electricity Market Review in 2016, there were a total of 43,560 prepaid connections in New Zealand in 2015.

Wise Prepay is based in Auckland and its offering is available there as well as in Waikato, Rotorua, Taupo, Napier and Hastings. It entered the market in 2015 and is led by Kruger Venter, who previously owned companies focused on “credit solutions”.

Wise Prepay collects information from customers’ smart meters to manage its service, sending daily information on usage, balance and account status to customers through its website, mobile app, SMS and emails. Customers can top up their accounts using the mobile app, website or top up cards.

Mr. Venter says he joined ERANZ because he promotes an open and competitive retail electricity market.

“We also wanted to have access to thought leadership and networking opportunities offered to ERANZ members. “

ERANZ Managing Director Jenny Cameron says she is encouraged that ERANZ is attracting retailers of the size and type of Wise Prepay.

“ERANZ offers all retailers an opportunity to learn, network and build on their experiences in order to provide best practice service to customers. “

ERANZ Independent President Jennie Langley said it was great that ERANZ’s hard work as the voice of retailers and consumers was recognized across the industry.

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