In 2024, the average cost of electricity for residential use was around 33.06 New Zealand cents per kilowatt-hour. This was a slight increase in the cost of electricity reported in the previous year, placing New Zealand in a middle position in the global ranking of household energy prices.
In the distribution of energy sources used for electricity production, hydroelectric power plants generated more than half of the country's electricity. The production of electricity from hydropower has been rising significantly, while the country saw a decline in the use of fossil fuels. The increased use of hydropower can also be linked to climate change. In 2022, New Zealand experienced the warmest and wettest year on record, resulting in high hydrolake inflows.
Average cost of electricity for residential consumers in New Zealand from 2013 to 2024 (in New Zealand cents per kilowatt hour)*
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MBIE (New Zealand). (June 13, 2024). Average cost of electricity for residential consumers in New Zealand from 2013 to 2024 (in New Zealand cents per kilowatt hour)* [Graph]. In Statista. Retrieved December 12, 2024, from https://www.statista.com/statistics/988203/new-zealand-residential-electricity-costs/
MBIE (New Zealand). "Average cost of electricity for residential consumers in New Zealand from 2013 to 2024 (in New Zealand cents per kilowatt hour)*." Chart. June 13, 2024. Statista. Accessed December 12, 2024. https://www.statista.com/statistics/988203/new-zealand-residential-electricity-costs/
MBIE (New Zealand). (2024). Average cost of electricity for residential consumers in New Zealand from 2013 to 2024 (in New Zealand cents per kilowatt hour)*. Statista. Statista Inc.. Accessed: December 12, 2024. https://www.statista.com/statistics/988203/new-zealand-residential-electricity-costs/
MBIE (New Zealand). "Average Cost of Electricity for Residential Consumers in New Zealand from 2013 to 2024 (in New Zealand Cents per Kilowatt Hour)*." Statista, Statista Inc., 13 Jun 2024, https://www.statista.com/statistics/988203/new-zealand-residential-electricity-costs/
MBIE (New Zealand), Average cost of electricity for residential consumers in New Zealand from 2013 to 2024 (in New Zealand cents per kilowatt hour)* Statista, https://www.statista.com/statistics/988203/new-zealand-residential-electricity-costs/ (last visited December 12, 2024)
Average cost of electricity for residential consumers in New Zealand from 2013 to 2024 (in New Zealand cents per kilowatt hour)* [Graph], MBIE (New Zealand), June 13, 2024. [Online]. Available: https://www.statista.com/statistics/988203/new-zealand-residential-electricity-costs/