Auction for Electricity

Imagine if utility companies were separate from utility vendors. Then imagine that those vendors fought for your dollar on the open market, in an auction. You could likely get electricity (and other utilities) a lot cheaper. That’s what Powershop envisions and is seeking to create.

An arm of Meridian Energy, the largest electricity generator in New Zealand, Powershop is an online shop for electricity. It allows you to buy power from a company of your choice each month. Each unit of power is charged the same amount for the month, so you can make your choice based solely on price or you may choose to pay a little more to support clean energy producers. And, if you don’t want to bother with all that micro-management, you can put your account on auto-pilot and Powershop will automatically buy the cheapest power for you.

An added feature of Powershop is the ability to monitor your energy consumption trends over time. As others have noted, being aware of your own behaviors around power use is sometimes enough to lower it.

Currently, Powershop is only available on the North and South Islands of New Zealand. Their model could work in other countries with one national power grid.