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6 plans live in our comparator

Tensor kWh electricity rates and energy plans

Compare every Tensor electricity plan currently on the market: tariff structure, contract length, exit fees, renewable share, solar buy-back and what each plan suits best. Data refreshed daily from the Selectra Energy-Core API.

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Tensor is one of the licensed electricity retailers operating in New Zealand, regulated by the Electricity Authority. On this page you will find every Tensor plan currently published in our comparator, with the tariff structure, fees, conditions and target audience for each one. Use it to understand what Tensor actually charges before you call them or sign up online.

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Tensor plans in detail

Every Tensor plan, decoded card by card.

Contract length, exit fees, tariff structure, who each plan suits best — straight from Tensor's published terms, with zero marketing spin.

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Tensor domestic plan

Open Term

Contract length

no fixed term

Bond / deposit

Up to two months’ estimated electricity supply (if you fail a credit check)

Who this plan suits best

Open Term is best suited to customers who value flexibility over locking in a contract—such as renters, households expecting to move soon, or anyone wanting to try a provider with minimal commitment. Because it uses standard variable rates with no advertised off‑peak windows or free‑power periods, it suits customers with steady usage rather than those seeking time‑specific discounts. It can also fit small businesses or small families in Auckland that want a straightforward, cancellable month‑to‑month plan based on smart‑meter reads. By contrast, customers seeking solar buy‑back or EV‑specific off‑peak incentives may find Open Term less aligned with those goals, as no solar export buy‑back or EV‑targeted pricing is currently advertised.

Plan conditions at a glance

  • No fixed term: Open Term is month‑to‑month and can be changed or exited at any time.
  • Eligibility: requires an eligible smart meter and service availability at your address; current supply area is Auckland.
  • Billing: invoiced monthly based on smart‑meter reads; invoices may include usage charges and any applicable fixed charges, taxes/levies, and service fees.
  • Payment: payment is due within 14 days of invoice unless otherwise agreed; late or non‑payment can lead to disconnection and collection fees.
  • Price changes: Tensor may change rates/fees with at least 30 days’ notice; increases over 5% trigger individual notice.
  • Controlled load: some loads (e.g., hot water) may be controlled if your pricing/metering configuration allows or if required for network/security reasons.
  • Customer obligations: provide safe access for metering/network work; do not tamper with meters/equipment; notify Tensor when moving premises.
  • Service interruptions: supply can be interrupted by planned work or unplanned faults; local lines companies are responsible for fixing network faults.
  • Vulnerable/medically dependent customers: additional protections and contact requirements apply; disconnection procedures are adjusted accordingly.
  • Credit/acceptance: joining may be subject to credit and eligibility checks; Tensor may decline applications that do not meet its criteria.

Promotions and discounts

As at 3 November 2025, no plan-specific discounts or time-limited promotions are publicly advertised for Tensor’s Open Term electricity option. Open Term is positioned as a month‑to‑month plan on standard variable rates with the key benefit of flexibility (change or exit at any time), rather than discounted pricing. For customers who decide to switch from Open Term to a fixed term, Tensor advertises business-only incentives: a 12‑month term with a 1.5% discount off standard variable rates, and a 24‑month term with a 3.0% discount plus a signing bonus applied in the first month. Eligibility generally includes meeting Tensor’s credit criteria, having an eligible smart meter, and being within the company’s current service area (Auckland). These fixed‑term incentives do not apply to Open Term itself and would last for the duration of the chosen fixed term.

How Tensor can change this plan's price

Tensor can change its terms and its electricity rates, fees and charges at any time, with at least 30 days’ notice and reasons for the change provided via website, email, an invoice message, or a combination of these. When increases take effect, they generally apply from the first business day of the month following the notice. Under the pricing section of its customer terms, Tensor states it will provide 30 calendar days’ notice of any increase. If an increase is more than 5%, customers receive individual notice (e.g., emailed and/or flagged on the invoice); smaller increases may be notified by website and/or general communications. Prices may reflect changes in underlying cost drivers such as wholesale energy conditions, local network charges, metering/service provider fees, market levies/taxes, and other regulatory or third‑party cost updates that relate to supplying electricity.

Tensor logo
Tensor domestic plan

12-Month Fixed

Contract length

12 months

Bond / deposit

Bond up to two months’ estimated electricity supply if you fail a credit check; refunded after 12 months of on-time payments or after final account settlement

How the tariff works

  • Tariff type: fixed-term discount off Tensor’s standard variable electricity rates (business customers). Charges comprise a daily fixed charge plus a variable per‑kWh usage charge; the 12‑month option applies a 1.5% discount to Tensor’s prevailing standard variable rates for the contract term. Exact daily fees and per‑kWh prices are address‑ and network‑specific and are not publicly listed; obtain a quote to confirm.
  • Metering and eligibility: supply requires a remotely communicating smart meter; service is currently available to customers in Auckland. If you are outside Tensor’s operating area, contact the provider to confirm availability.
  • Regional rates: Auckland (Vector/Counties Energy networks) – price per kWh and daily charge are not published; request a quote. Northland – contact the provider directly. Waikato – contact the provider directly. Bay of Plenty – contact the provider directly. Central North Island – contact the provider directly. Eastland – contact the provider directly. Taranaki – contact the provider directly. Whanganui – contact the provider directly. Wellington – contact the provider directly. Marlborough – contact the provider directly. Westland – contact the provider directly. Canterbury – contact the provider directly. Otago – contact the provider directly. Southland – contact the provider directly.
  • Contract and notices: rates may change during the term with required notice; your specific pricing plan appears on your invoice. Daily fees and controlled‑load options (if available for your metering setup) are network‑dependent; confirm details when requesting a quote.

Who this plan suits best

The 12‑Month Fixed option is best suited to small‑to‑medium businesses in Auckland that value a modest guaranteed discount off standard variable rates in exchange for a one‑year commitment. It suits users with reasonably stable consumption profiles who are comfortable with variable pricing that can change with notice, but who still want some contract‑term certainty and a small rate benefit. It is less suitable for households seeking open‑term flexibility (Tensor positions residential plans as open term by default) or for customers who require price‑fixed certainty across the year. There are no publicly advertised EV‑specific or solar buy‑back features tied to this offer; EV owners and solar users seeking specialised tariffs may prefer plans that explicitly support time‑of‑use or export credits.

Plan conditions at a glance

  • Offer scope: the 12‑Month Fixed discount applies to eligible business customers and provides 1.5% off Tensor’s standard variable electricity rates for the full 12‑month term.
  • Eligibility: you must be a business customer with a verified NZBN; the registered business address must match the property supplied; the property must meet Tensor’s customer requirements, including a remotely communicating smart meter and location within Tensor’s operating area (currently Auckland).
  • Application of discount and any credits: the discounted rate is applied for the entire term; where applicable, credits noted by Tensor are applied to the first invoice (credits are not advertised for the 12‑month term).
  • Early termination: exiting a 12‑month business contract early incurs an early termination fee of $300 + GST per ICP.
  • Billing and payment: invoices are issued monthly; payment is due within 14 days (bank transfer accepted). Your current pricing plan is displayed on your invoice.
  • Changes and notice: Tensor may change rates, fees, and charges with at least 30 days’ notice and reasons; increases above 5% receive individual notice, while smaller increases may be notified via website and/or invoice/email.

Promotions and discounts

Tensor’s 12‑Month Fixed is presented as a fixed‑term option for eligible business customers, offering an ongoing discount of 1.5% off Tensor’s standard variable electricity rates for the full 12‑month commitment. The discount is applied across the term; no separate sign‑up credit is advertised for the 12‑month term (a signing bonus is mentioned only alongside the 24‑month business option). Tensor indicates it supplies smart‑meter customers and currently serves the Auckland area. Eligibility and key terms for the 12‑month discount include: business customer status (with a verified NZBN), the registered business address matching the supplied property, the property meeting Tensor’s customer requirements (including a remotely communicating smart meter), and location within Tensor’s operating area. If a customer exits the 12‑month business contract early, an early termination fee of $300 + GST per ICP applies. No residential 12‑month fixed‑term promotion is advertised; residential plans are positioned as open‑term by default. Customers seeking residential fixed terms or additional incentives should contact Tensor directly.

How Tensor can change this plan's price

Tensor states it can change its agreement and its electricity rates, fees, and charges at any time, provided customers receive at least 30 days’ notice and the reason for the change. Notice may be given via website notice, email, invoice message, or other electronic means, and changes generally take effect from the first business day of the month following the notification. If a price increase exceeds 5%, Tensor provides an individual notice; for increases under 5%, notice may be provided via website and/or invoice/email. Customers’ pricing plans are shown on their invoices. Tensor indicates that billed amounts may include third‑party and pass‑through components (for example, network company, transmission, metering charges, and applicable taxes/levies). As a result, adjustments may be made to reflect changes in those underlying costs or regulatory settings, in addition to Tensor’s own rate changes (all subject to the stated notice periods).

Tensor logo
Tensor domestic plan

24-Month Fixed

Contract length

24 months

Bond / deposit

Bond may be required if a credit check is failed; up to two months’ estimated electricity supply; refunded after 12 months of on-time payments or after final bill is paid

How the tariff works

  • Tariff type: a fixed‑term discount applied to Tensor’s standard variable rate for 24 months (i.e., a fixed term, not a fixed price). No published time‑of‑use, peak/off‑peak, or free‑period features are advertised for this offer.
  • How charges are calculated: a daily fixed charge plus a variable usage charge per kWh, billed monthly from smart‑meter reads. Exact daily fees and price per kWh are not published on Tensor’s site; customers receive a quote specific to their ICP and meter setup.
  • Availability and eligibility: currently limited to smart‑meter customers in Auckland (Vector and Counties Energy networks). Customers outside Auckland — including Northland, Auckland, Waikato, Bay of Plenty, Central North Island, Eastland, Taranaki, Whanganui, Wellington, Marlborough, Westland, Canterbury, Otago, and Southland — should contact the provider directly for availability and rates.
  • Discounts: eligible business customers on a 24‑month term receive a 3.0% discount off Tensor’s standard variable rates, plus a signing bonus credited in the first month (amount not specified on the site).
  • Billing and payment: monthly billing with payment due within 14 days of invoice; metering and controlled‑load options may apply where supported by your meter/network.

Who this plan suits best

Best suited to small and medium businesses in Auckland with smart meters that want a modest, set discount for a longer commitment without the complexity of time‑of‑use. The 24‑month term can help budgeting by locking in a percentage discount off Tensor’s prevailing standard rates, and the signing bonus reduces first‑month costs. It may suit steady‑usage households in Auckland if a residential variant is offered upon quote, but customers seeking EV‑specific night discounts, time‑of‑use arbitrage, or solar export income may find better value elsewhere (Tensor does not publish a solar buy‑back, and no EV‑specific home charging discount is advertised). Customers outside Auckland or without smart meters are not currently eligible.

Plan conditions at a glance

  • Term length: 24‑month fixed commitment; discount remains in place for the term.
  • What is fixed: a percentage discount (not a fixed unit price) applied to Tensor’s standard variable rates; signing bonus credited in month one (amount not specified on Tensor’s site).
  • Eligibility: smart‑meter customers only; supply address must be within Tensor’s current coverage (Auckland networks).
  • Charges: daily fixed charge plus variable per‑kWh usage; exact rates are provided in your quote and shown on each invoice.
  • Billing and payment: monthly invoices; payment due within 14 days; bank transfer currently supported.
  • Price changes and notice: Tensor may change rates/fees with at least 30 days’ notice; increases over 5% receive individual notice; changes generally effective from the first Business Day of the following month.
  • Metering/controlled load: customers must maintain a communicating smart meter; controlled‑load options may apply where supported.
  • Geographic limits: Tensor currently supplies Auckland only; contact Tensor before signing if outside this area.
  • Other terms and fees: standard service fees (e.g., reconnection, meter services) may apply; see your quote and invoice for specifics.
  • Important: early‑exit fees or residential‑specific 24‑month terms are not published on Tensor’s site; confirm any break fees and residential availability before agreeing.

Promotions and discounts

Tensor’s 24‑Month Fixed is offered as a fixed‑term discount off Tensor’s standard variable electricity rates, rather than a fixed‑price plan. For eligible business customers who commit for 24 months, Tensor advertises a 3.0% discount on standard variable rates and a signing bonus credited to the first month (amount not specified on Tensor’s site). Availability is limited to smart‑meter customers in the Auckland networks only. If you are a residential customer, Tensor’s site does not publish an active 24‑month fixed residential discount; you’ll need to request a quote or confirmation directly to check current eligibility and any residential incentives. Key eligibility and terms: new or existing customers must have a remotely communicating smart meter; supply area must be within Tensor’s current coverage (Auckland); the discount applies for the 24‑month commitment period; and standard plan terms and service fees apply. Tensor’s general terms allow price components to change with notice, so confirm your specific plan’s special terms before signing.

How Tensor can change this plan's price

Tensor’s terms state that it may change the agreement and pricing (rates, fees, and charges) with at least 30 days’ notice and an explanation of the reason for the change. Notice may be provided via website posting, email, other electronic means, and/or messages on the invoice. Changes generally take effect from the first Business Day of the month following the dated notice. For pricing changes specifically, Tensor indicates it will give 30 calendar days’ notice of any increase and will provide individual notice if an increase exceeds 5%; smaller increases may be notified via website/email/invoice messaging. Invoices may also pass through third‑party components (e.g., network company, metering provider, or regulatory charges), which can affect the total amount billed. Customers should review any special terms attached to their plan for clauses that fix or vary specific price components.

Tensor logo
Tensor business plan

Open Term

Contract length

no fixed term

Exit fees

no exit fee

Bond / deposit

Bond may be required up to the estimated cost of two months’ electricity supply

How the tariff works

  • Tariff type: Variable (standard usage rate with no advertised time‑of‑use or free‑period components). Eligibility requires a smart meter, and service is currently available only in Auckland.
  • How charges are calculated: billed monthly from actual smart‑meter reads; you pay a per‑kWh usage charge (standard variable rate) plus any applicable fixed daily charge. Exact daily fees and per‑kWh rates are not published online and are provided with your quote or invoice.
  • Price per kWh: not publicly listed by Tensor; customers should request a quote for their ICP. If you need the current rate, contact Tensor directly.
  • Other key points: Open Term has no fixed term and can be cancelled anytime; billing is monthly; smart‑meter data is used for accuracy.

Who this plan suits best

Open Term suits customers who value flexibility, such as renters, small families, and small businesses that want the freedom to switch or leave without exit fees. Because Tensor currently serves only Auckland smart‑meter customers and bills monthly from actual reads, it can also appeal to customers who prefer straightforward, digital‑first service and usage‑based billing without time‑of‑use complexity. It is less suited to households seeking specific benefits like solar export payments or EV‑focused overnight time‑of‑use pricing, as no solar buy‑back rate is published for Tensor and no EV‑specific tariff is advertised. Customers with large, predictable loads or who are comfortable with commitment might find better value in fixed‑term discounts (business) or in retailers offering time‑of‑use or EV plans. 

Additional services included

Tensor lists optional, chargeable services separate from normal supply. These include remote reconnection/disconnection ($25) and after‑hours remote reconnection ($55); on‑site reconnection/disconnection ($80) and after‑hours on‑site reconnection/disconnection ($130); metering services such as a site visit ($105), meter accuracy test ($245), remote meter configuration change ($25), manual meter configuration change ($155), meter relocation/replacement ($155), manual certified meter read ($140), and permanent disconnection ($140). These are optional, only charged when requested or applicable, and prices shown are GST‑inclusive (effective 1 January 2022).

Plan conditions at a glance

  • Open Term has no fixed term; you can change plan or exit at any time (no exit fee advertised for Open Term).
  • Service currently available only to customers in the Auckland area and only where a remotely communicating smart meter is installed.
  • Billing is monthly based on actual smart‑meter reads (estimates used only if data is missing); payment is due within 14 days by bank transfer unless otherwise agreed.
  • Prices may change with at least 30 days’ notice; increases above 5% receive individual notice; smaller increases may be notified via website/email/invoice.
  • If you move, provide at least 3 business days’ notice; switching to another retailer is supported via the standard process.
  • Protections apply for medically dependent and vulnerable consumers; disconnections for non‑payment follow specific notice periods and cannot occur on Fridays or the day before a public holiday.
  • Controlled‑load (e.g., hot water) management may apply only if you are on a controlled‑load pricing plan.
  • Additional service fees (e.g., reconnection, meter services) may apply where relevant; see Tensor’s published service‑charge schedule.

Promotions and discounts

Tensor’s Open Term plan is a no‑fixed‑term option that charges the standard variable rates and lets customers change plan or leave at any time; Tensor does not advertise any standing discounts specifically for Open Term (residential or business). Current publicised discounts are tied to fixed‑term business contracts only (e.g., 12‑month and 24‑month commitments with percentage discounts and a signing bonus), not to Open Term. Eligibility for any Tensor plan requires a smart meter, and as at the latest update Tensor supplies only customers in the Auckland area. ([tensor.co.nz](https://www.tensor.co.nz/business/))

How Tensor can change this plan's price

Tensor may change your pricing plan, rates, fees, and charges by giving at least 30 calendar days’ notice and explaining the reasons for the change. If the increase is more than 5%, Tensor will send an individual notice to your nominated email and/or include it on your invoice; if 5% or less, notice may be provided via the website and/or email and/or on your invoice. Changes generally take effect from the first business day of the month following the notice.  Adjustments can reflect pass‑through cost changes from network companies, metering providers, and regulatory agencies, as well as other components that affect the delivered cost of electricity. Your invoice will show the applicable pricing plan and any fixed/variable charges in effect. 

Tensor logo
Tensor business plan

12-Month Fixed

Contract length

12 months

Exit fees

$300 + GST per ICP

Bond / deposit

May be required if you fail a credit check; up to two months’ estimated electricity supply (refundable after 12 months of on-time payments or after final account).

Who this plan suits best

Best fit: small to medium businesses in Auckland with a smart meter who want a modest, guaranteed discount off standard variable rates in exchange for a 12‑month commitment, predictable monthly billing, and simple online account management. The plan suits businesses comfortable with variable unit pricing and without a need for complex time‑of‑use incentives. Less suited: residential customers (who are typically offered open‑term plans instead), customers outside Auckland, or users seeking dedicated EV, solar buy‑back, or time‑of‑use/free‑period tariffs, as no such features are advertised for this 12‑month offer.

Plan conditions at a glance

  • Term: 12‑month fixed‑term contract; discount applies for the full term.
  • Who can join: smart‑metered premises within Tensor’s service area (currently Auckland). Business applicants must supply a verified NZBN and the registered business address must match the supply address.
  • Pricing basis: discount is applied to Tensor’s standard variable rates; exact unit rates and daily charges are quote‑based and not publicly listed.
  • Early termination: if you end a 12‑month business plan early, an exit fee of $300 + GST per ICP applies.
  • Billing and payment: monthly billing; payment is due within 14 days of invoice (payment methods may be updated with at least 30 days’ notice).
  • Price changes: Tensor may adjust rates, fees, and charges with at least 30 calendar days’ notice; increases over 5% receive individual notice; smaller increases may be notified via website, email, or invoice message.
  • Acceptance criteria: application is subject to Tensor’s credit and eligibility checks; service is not available to unmetered or non‑smart‑meter sites and may be declined outside the operating area.

Promotions and discounts

Tensor’s 12‑Month Fixed is currently promoted for eligible business customers as a contract‑length commitment that earns a discount off Tensor’s standard variable rates. The headline benefit is a 1.5% discount applied for the full 12‑month term. The discount is reflected on invoices as discounted rates rather than a lump‑sum credit. Key eligibility and terms: the supply address must be smart‑metered and within Tensor’s service area (Auckland); the applicant must meet Tensor’s acceptance and credit criteria. For business plans, a verified NZBN is required and the registered business address must match the supply address. Early termination triggers an exit fee of $300 + GST per ICP on 12‑month business plans. No additional, plan‑specific bill credits are advertised for the 12‑month term (credit offers are referenced only for longer, 24‑month business terms). Residential plans are offered on open term by default, with no residential 12‑month discount publicly advertised as at 3 November 2025.

How Tensor can change this plan's price

Tensor’s customer contract allows it to change its agreement and its rates, fees, and charges with notice. For increases, Tensor provides at least 30 calendar days’ notice, including reasons, delivered by one or more of: email, website notice, electronic message, or an invoice message. Changes generally take effect from the first Business Day of the month following the dated notice. Tensor’s pricing‑plan clause also provides that it may change a customer’s Pricing Plan from time to time with 30 calendar days’ notice of any increase. If an increase is more than 5%, individual notice is sent to the customer; increases of 5% or less may be notified via website and/or invoice/email. Invoices can include third‑party and regulatory components (e.g., network, transmission, metering charges, taxes/levies), and adjustments may reflect changes in these underlying costs or regulatory requirements.

Tensor logo
Tensor business plan

24-Month Fixed

Contract length

24 months

Exit fees

$600 + GST per ICP

Bond / deposit

Bond up to two months’ estimated electricity supply (required if credit check is failed)

How the tariff works

  • Tariff type: fixed-term commitment for 24 months that applies a 3.0% discount to Tensor’s standard variable electricity pricing for eligible business customers. This is a contract term fixed for duration, not a fixed per‑kWh price; underlying energy rates remain variable.
  • How charges are calculated: standard NZ retail structure with a daily fixed charge plus a variable per‑kWh usage charge. For this offer the bill equals (daily fixed charge × days in billing period) + (per‑kWh charge × metered usage), less any applicable 3.0% discount. Billing is based on actual smart‑meter data collected daily.
  • Daily fees and per‑kWh rates: specific daily charge and price per kWh are not published online for this plan; customers should contact Tensor for an itemised quote for their ICP.
  • Time‑of‑Use / free‑periods: no published peak/off‑peak windows or free‑power periods for this offer. If you require ToU pricing, confirm availability directly with the provider.
  • Eligibility and service area: smart‑meter connection required; supply currently available in Auckland only.
  • Other notes: invoices are issued monthly; standard payment due date is 14 days from invoice issue. If you need confirmation of any numeric rates or regional applicability, contact Tensor directly.

Who this plan suits best

This 24‑Month Fixed option is best suited to Auckland‑based small and medium businesses with stable premises and predictable usage that value a modest guaranteed discount (3.0%) off standard variable pricing in exchange for a two‑year commitment. It can also suit larger sites wanting budget certainty via a term commitment while retaining the flexibility of variable energy pricing if usage patterns change. It is less suitable for customers expecting to move premises within two years or for residential households, as Tensor promotes open‑term plans as the default for homes. Businesses that require published Time‑of‑Use windows, fixed per‑kWh pricing, or operate outside Auckland should confirm availability or consider alternatives.

Plan conditions at a glance

  • Customer type and area: offered to eligible business customers with smart meters; current supply area is Auckland.
  • Term and discount: 24‑month contract term with a 3.0% discount off Tensor’s standard variable rate; discount applies for the full term.
  • Joining incentive: a signing bonus is applied in the first month.
  • Tariff basis: the plan is a fixed‑term contract; underlying per‑kWh and daily charges are variable and quoted per connection/ICP.
  • Billing and payment: invoices are issued monthly; payment due within 14 days of invoice date unless otherwise agreed.
  • Price changes: Tensor may change rates, fees, and charges with at least 30 days’ notice; increases over 5% trigger an individual notice; changes generally take effect from the first Business Day of the following month.
  • Metering requirement: remotely communicating smart meter is required; billing uses actual meter data (estimates may be used if data is unavailable).
  • Early exit/fees: no explicit early‑termination fee for this specific 24‑month offer is published online; confirm any exit fees or claw‑backs directly with Tensor before signing.
  • Availability and confirmation: specific per‑kWh and daily charges, Time‑of‑Use windows (if any), and eligibility details are provided in customer‑specific quotes; customers should obtain written confirmation before committing.

Promotions and discounts

Tensor’s publicly advertised 24‑Month Fixed option is targeted at eligible business customers and provides a 3.0% discount off Tensor’s standard variable electricity rate for the full 24‑month term. The offer also includes a signing bonus applied in the first month (the bonus is described but not quantified online). Availability is currently limited to smart‑metered connections in Auckland. Key eligibility and scope points mentioned online are: it is a fixed‑term contract length (24 months) for businesses, the discount is calculated as a percentage off Tensor’s standard variable rate (i.e., it is not a fixed‑price per‑kWh plan), and “T’s and C’s apply.” No explicit early‑termination fee, minimum consumption, or usage‑pattern restrictions are published for this specific offer; prospective customers should confirm these terms directly with Tensor before signing. Residential customers are steered toward open‑term plans rather than fixed terms.

How Tensor can change this plan's price

Tensor’s customer terms state they may change the agreement and their rates, fees, and charges, with at least 30 days’ notice and reasons for the change provided. For price increases, they specify 30 calendar days’ notice; if the increase exceeds 5%, an individual notice is issued (for example, by email or on the invoice). Changes generally take effect from the first Business Day of the month following the notice. Their pricing section explains that your invoice reflects a Pricing Plan that can be changed by notice and that the amounts you pay may include charges from regulatory agencies, the local network company, and the metering services provider, in addition to Tensor’s own energy charges. In practice, prices may be adjusted to reflect updates to third‑party costs (network, metering, regulatory/levies) or other cost movements disclosed by Tensor in the required notice.

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Frequently asked questions

The Selectra expert answers your questions about electricity rates

  • Fixed rate: your unit price stays the same for the duration of the contract.
  • Variable rate: the retailer can adjust the unit rate at any time, with at least 30 days' notice. Prices broadly follow wholesale electricity costs.
  • Time-of-use: the unit price changes by period of the day — cheaper overnight and during off-peak hours, more expensive at peak times (typically 7-9am and 5-9pm).
  • Spot pricing: the unit price tracks the half-hourly wholesale market. Households with flexible usage can save when prices are low, but they are exposed to spikes during cold snaps or supply shortages.

The daily fixed charge covers the cost of staying connected to the grid: network maintenance, the lines from the street to your meter and the metering equipment itself. It is billed for every day you hold an active connection, regardless of how many kWh you use.

Households using less than 8,000 kWh per year (9,000 kWh in the lower South Island) may qualify for a low-fixed-charge tariff: a smaller daily fee paired with a slightly higher unit rate. This option is being phased out by April 2027, but it is still available today and is usually a good fit for small homes and singles.

Each part of New Zealand is served by its own local lines company (Vector in Auckland, Wellington Electricity, Powerco, Aurora, Orion and more). Each lines company sets its own delivery charges based on the cost of maintaining its network — and those costs vary widely:

  • Rural and low-density networks (East Coast, West Coast, parts of Otago) cost more per customer to maintain than dense urban ones.
  • Networks with significant underground cabling (central Auckland, Wellington CBD) are more expensive to upgrade but suffer fewer storm outages.
  • South Island networks pass through hydro-rich generation regions, which can lower the wholesale component on some plans.

For these reasons, a customer in Dunedin can pay a different rate from a customer in Hamilton on the same Tensor plan.

Comparing electricity plans is not just about the headline rate. Before signing, check:

  • Unit rate (¢ / kWh): what you pay for each unit of electricity. Lower is better.
  • Daily charge (¢ / day): a fixed cost added every day, regardless of usage.
  • Discounts: prompt-payment, direct-debit and online-billing discounts can knock 1-3% off the total.
  • Contract term and exit fees: open-term plans are usually free to leave. Fixed-term plans may charge a break fee.
  • Plan extras: free-power hours, EV night rates, solar buy-back, broadband bundle discounts.

Always cross-check your offer against several retailers using your real ICP and a 12-month consumption history before signing — the headline rate alone never tells the full story.

Under the standard terms used by most New Zealand retailers, variable rates and daily charges can be adjusted at any time, with at least 30 days' written notice to the customer. Notice is usually sent by email, on the bill, or via the customer portal. This 30-day minimum is industry practice rather than a hard statutory rule, so always check the price-change clause printed on the plan terms.

Fixed-term plans are different: the unit rate and daily charge are locked in for the duration of the contract (typically 12, 24 or 36 months). If you do not switch or renegotiate at the end of the term, you are usually moved onto the retailer's standard variable rate.