The world’s first online energy store aims to provide New Zealand’s power customers with the best deals in electricity.
Determined to rise above New Zealand’s competitive energy market and aid struggling consumers who are scratching their heads over which power provider to go with, Powershop, the ‘world’s first online energy store,’ is making it easy for New Zealanders to choose by posting the best offers in the market on one website.
Funded by Meridian Energy, the largest electricity provider in New Zealand, Powershop provides an online marketplace where energy suppliers compete on price and brand values, and it has proved to be successful.
In the 2011 fiscal year that ended in June, Powershop earned NZ $49.5 (US $40.7) million and its customers doubled, from 16,553 last year to 33,628 this year.
Powershop CEO Ari Sargent explains:
The vision of Powershop is to be like eBay for electricity. Any electricity generator in New Zealand, including Meridian’s competitors, can offer their own brands of electricity at different prices and different seasons.