Competition between power companies to win customers was fiercer than ever in 2011, with one in four households switching retailers in search of a better deal, according to online energy store, Powershop.
The Electricity Authority's latest switching figures show a 12 per cent increase in the number of households switching
from 2010, and a 74 per cent rise since records began eight years ago.
According to the figures, Powershop experienced the most gains last year, winning 19,226 new customers, increasing its total customer base 80 per cent to 43,199. Of these, 1356 joined the online retailer in December.
Pulse Utilities was the second biggest winner, acquiring 11,008 new customers, followed by Meridian Energy, with 7598 and Bay of Plenty Electricity with 6889.
Mercury Energy shed the most customers, with 23,256 residential customers fleeing the company, a six per cent drop in its customer base.
