Cost of residential electricity in New Zealand 2013-2024
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.
New Zealand’s electricity consumption
While the leading sector to consume electricity in New Zealand is the industrial sector, household electricity consumption follows closely. A slight decrease in consumption has been observed in both sectors. Although the main primary energy supply of New Zealand is sourced from oil, the electricity generation of the country has already become much greener. New Zealand uses an increasing share of renewable energy in its electricity sector, with over 80 percent of the electricity production generated by renewable energy.
Leading energy source: Hydropower
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.
