Independent energy retailer Electric Kiwi has put out a tender for 10 to 15-year power purchase agreements in a bid to shake up the electricity market and get cheaper prices to its customers.
The company, which boasts just short of 60,000 connections, typically buys its power from the spot and forward markets.
But high prices led Electric Kiwi last year to have to stop taking on new customers, because they would be loss making. It has since returned to taking new customers.
The latest move from Electric Kiwi attempts to skirt around the high market prices by providing a long-term contract for a builder of a renewable energy plant - and at the same time getting cheaper prices for customers.
Huia Burt is the chief executive at Electric Kiwi.
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