I have dealt with a broker in the past and didn’t get the best rates, how is Saveawatt different?

Because we work on a success fee basis our goals are aligned. We need to give it everything we’ve got to achieve the biggest possible savings for your business and generate income for ourselves. Unlike some brokers, we do not charge ongoing fees or clip the ticket on your power bill. We are confident enough in our ability to offer a 12 month money back guarantee.

What is the process after we sign the procurement agreement?

Stage 1: Obtain consumption history, contract details and meter information from your existing retailer.

Stage 2: Compile a user profile and issue RFP through the National Energy Tender.

Stage 3: Analyse and compare various offers from up to 25 different retailers.

Stage 4: Provide existing retailer with the opportunity to retain your business.

Stage 5: Present analytical report via a face to face meeting or online.

Stage 6 : Sign a fixed price energy contract with the winning retailer locking in the rates for the term of the agreement.

Stage 7: Switch to new power company and pay Saveawatt invoice

How long will the process take?

4 weeks

If I sign the procurement agreement and join the tender do I have to go ahead once I receive the winning offer?

Yes. If you want to gain the benefits of The National Energy Tender then Saveawatt requires your up-front commitment that you will complete the process and pay the fee. The National Energy Tender is not a free benchmarking facility

How will I receive my report?

One of our energy brokers will contact you to arrange a time to present the report via an online meeting portal. Face to face meetings are available for large or multisite customers

Once I receive the analysis do I get to choose the new retailer?

We will provide you with a recommendation based on a number of factors, mainly price. You can choose your preferred supplier but if you have any particular issues with certain retailers, we ask you to advise us in writing before we start the process. This way we can exclude them from the tender process and it won’t cause any problems at a later stage.

How much does it cost?

25% of the total projected cost savings (most contracts are 24 -36months)

What level of savings do you normally achieve?

Energy savings range from 5-45% and are dependent on a variety of factors

Why do you charge a success 25% fee and not a fixed fee?

We put our money where our mouth is. We are confident that we can save you money. But if the market changes and we can’t make any savings then we won’t charge you a cent. Other brokers charge a fee regardless of whether they achieve savings and we don’t think that’s fair

What are the payment terms?

Payment is due to Saveawatt on the 20th of the month following the switch to your new rates. We also offer 6 or 12 month payment plans via Smart AR fee funders. The sign up process is very simple and you can spread out payment of the fee to make the process cashflow positive from day one.

Do I pay my monthly bill to the power company or Saveawatt?

You will be invoiced by your power company and you pay them directly.

Will you refund us if we don’t achieve the projected savings?

Yes, if your energy consumption is comparative to the previous 12 months and you don’t achieve the project savings we will refund the fee.

Are the savings guaranteed?

Yes, we provide a 12 month guarantee if your energy consumption is comparative to the previous 12 months. You will enter into a fixed energy price agreement with a power company and the energy portion of the rates will be locked for the term of the contract.

Does the bulk tender cover both electricity & gas?

Yes, Saveawatt also run similar processes across waste management, telcos  and data

How many energy companies are included in the tender?

Up to 25

How many power companies supply my area?

The number of retailers varies from region to region. Please contact us directly for information on your specific location.

What if I’m in a contract with my current power provider?

Most customers are in contract with their current provider. However, the savings normally far outweigh the break fees so it is still worthwhile joining the tender. Stage 1 of our process will check and confirm your break fees and we will only proceed if it makes financial sense to do so. If you are on a TOU (Time of Use) contract we will wait until 6 months before contract expiry and monitor the market to move when the time is right.

How do I know if I am on a TOU contract or anytime?

Time of use is for larger customers, normally spending over $7 or $8K per month. TOU customers will have different electricity rates dependent on the time of day or night. Anytime customers will pay the same rate for electricity 24 hours a day eg 22 cents /kWh

How are the savings and fee calculated?

Savings are calculated using your previous 12 months energy consumption and the difference between the benchmark price and the new energy price negotiated by Saveawatt over the term of the new contract

Do you arrange the supply contract and the switch to the new provider?

Yes. Saveawatt manages the whole process from negotiating rates, organising contracts and transferring you to the new retailer. There is no interruption to your supply and the process is seamless

What happens when my contract expires in the future?

Saveawatt will contact you before the contract expiry date and offer to re-run the process. The renewal offer from your new energy supplier will be the benchmark for savings

How long is the contract term?

Most contracts are 2 to 3 years, in some cases, we receive 5 year contracts. We will provide you with a list of options outlining the savings and contract terms

Can I still go to tender if I don’t I don’t have 12 months consumption history?

Yes, if you know what electrical equipment is on site and the hours you will operate we can build a usage profile. We will request your “sign off” before we put the volume out to market.

I’m moving to a new building, can you still help me?

Yes, we can use consumption history from your previous site or run calculations based on expected load and operating hours.

My current rates are expensive, can you use a different benchmark?

Normally we use current costs as the benchmark for savings. However, if your contract is expiring with-in a few months we will use your renewal offer which will be more in line with the current market.

How does it work if I’m on a contract and don’t want to pay high exit fees?

The first thing we do is confirm termination fees with your existing retailer. If it’s not financially beneficial to progress then we park the process until closer to contract expiry. In some cases we can negotiate an “acquisition credit” with the winning retailer to cover your break fees.

What’s a free Electricity diagnostics review?

This is a high level review of your current energy situation. We overlay your costs against recent results for the National Energy Tender and from that we provide an estimate of how much you would save if you sign up and join the tender. The process also identifies if you are on the wrong meter type or have a power factor issue.

I have multiple sites around New Zealand, can you still help me?

Yes, many of our customers are multi-site organisations. In some cases we may achieve larger savings with a combination of different retailers based on your geographical locations, however we will discuss this with you at tender time.

What is an analytical report?

It is a detailed report comparing your current costs against all offers received through the National Energy Tender. It is a like for like comparison that separates out the raw energy costs from the lines and network costs. The report is completely transparent so you can see exactly where the savings have been achieved.

What are the most common problems you see with electricity meters?

Often businesses are not purchasing their electricity in the most cost-effective way for their specific energy requirements. This is a result of legacy meters being left in place when a business use changes. An old factory may have been converted to warehousing, but the large Time of Use meter has not been downgraded to a standard anytime meter. Conversely, a businesses consumption may have increased to a 24/7 operation but they may still be using an anytime meter.

Where can I find more in-depth information about your company and services?

Please visit the “Our People” page on our website for more information about our board and leadership team

Can Saveawatt get lower electricity rates than my in-house procurement team?

In most cases yes. However, it depends on the appetite of the power company to win your business on a given day. The market is dynamic and changing constantly. We have a leveraged buying position because of the sheer volume of tenders we run. We also have direct channels to the pricing teams and we have specialised knowledge to negotiate the absolute lowest rates possible.

What happens if the tender results in very small savings?

Normally our analysts will identify potentially marginal savings at the outset of the tender. If you have large termination fees or the market is not conducive to delivering savings we will park the process and notify you accordingly. In the unlikely event, we complete a full process and the savings are marginal then we wouldn’t recommend you switch to another retailer. The procurement agreement would be terminated.

Can I bring you a few offers from different power companies for a free appraisal?

Yes, we are happy to provide an independent & unbiased view on how the offers stack up in the current market. However, be advised that once a power company quotes on a certain ICP they will only offer the same rates to any other 3rd party that requests pricing. The is their policy to ensure they don’t become “piggy in the middle” with unhappy customers or brokers.

Do you have references or testimonials from any existing clients?

Yes we have multiple references across most industries Nationwide. We also have a number of video testimonials from happy customers.

How do I know if I am on a Time of Use meter?

Your power bill will show different KWH rates for varying time blocks eg 0000 to 0400 and 0400 to 0800 and 0800 to 1200. Generally the rates will be differentiated into 4 hourly or 8 hourly time slots.

Why do I have a Time Of Use meter when I spend less than $2000 per month?

This generally happens when business use at a premises has changed and the meter has not been downgraded accordingly. In most cases your power company or lines company won’t advise you if you have the wrong meter type in place.

Can you help me make sense of my power bill?

Yes, we are happy to do a screen share or face to face meeting to explain how to interpret your power bill.

Will you notify me in advance when my contract is expiring?

We set reminders in our CRM 6 months before contract expiry. This gives us ample time to monitor the market and take action at the best possible time to ensure the lowest rates.

Does my power company know if I join the National Energy tender?

Yes, unless you specifically request us not to advise them.

Why have I never heard of Saveawatt before?

Unlike the big power companies we do not spend millions of dollars per year on marketing. Most of our business is generated through word of mouth and our outbound sales teams.

Who sends me the welcome pack once I’ve switched power companies?

You enter into a contract direct with the power company and they send out the welcome pack.

If Saveawatt requests the renewal offer on my behalf would the rates be the same as if I had obtained them directly?

Generally not. When Saveawatt requests pricing the power companies normally submit their best rates straight off the bat. They know they are up against every retailer in the country so if they want to retain your business they have to submit their absolute lowest price. There are some circumstances when this may not be the case. Eg you are constantly late with your payments, they have no excess load available, or your usage profile doesn’t fit their book. If they don’t want your business they may offer us both the same bad pricing.

Why should I choose Saveawatt over your competition?

Our National Energy Tender engages more power companies than any other broker in NZ. We operate on a No Savings/no fee basis so you only pay if we save you money. Our fee is a one off fee, there are no ongoing charges. We do not lock you into a long-term contract with Saveawatt and there are no break fees or terminations costs if you discontinue using our service following the completion of the tender. We do not clip the ticket on your monthly power bill from our retailer meaning we are fully independent. Whoever provides the lowest price will win the tender, not the retailer that pays us the most money. We have over 10 years experience and have helped thousands of businesses save millions of dollars. Our energy industry experts are abreast of any changes and market intricacies and a customer focused to ensure you will always achieve the best possible outcome. Our business is NZ owned and operated.

What are some common issues you come across when reviewing energy accounts?

Over charging, under charging, incorrect meter types, wrong load groups, faulty meters, power factor issues.

What’s the best time of year to go to market?

Spring is traditionally a good time to go to market. However, this can be impacted by several factors. Snowpack, lake levels, long term weather forecasts, large scale gas & electricity lines maintenance projects. The safest option is to start the contract renewal process well in advance of contract expiry. With large commercial customers this could mean 6 1-12 months before your existing contract matures. This allows plenty of time to monitor the market and secure a contract when the timing is best. Leaving it to the last-minute means you run the risk of having to accept whatever offer is on the table, regardless of the state of the market.

If the lake levels are low is there still potential to make good savings?

This depends on your current pricing and also your meter type. Non half hourly pricing is not directly affected by lake levels. Time of use pricing fluctuates greatly dependent on lake levels and a number of other factors. We still do achieve savings when lakes are low, but it’s not as common as when storage is high.
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