Electric Kiwi stops recruiting customers due to high wholesale electricity prices

Electric Kiwi says gentailers are making electricity too expensive. (Image: Getty)

Thu, 18 Jul 2024

Independent energy retailer Electric Kiwi says it can no longer take on new customers because extremely high wholesale electricity prices made it unprofitable.Chief executive Luke Blincoe said: “Wholesale energy prices have increased by nearly 50% in the past six months, and current wholesale energy futures prices (these are the products that we buy in order to supply energy to our customers) have now reached a point where every new customer would be loss-making for our business. “We can’t accept our existing customers p...

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