FinCap strongly supports the minimum standards proposed as a baseline to build fit for purpose consumer protections that would see whānau and their financial mentors better able to halt avoidable harm from energy hardship.

The Electricity Authority is due to implement minimum standards from 1 January 2025.

While this is welcome, FinCap urges the EA to act on, among other things, monitoring of energy hardship issues; enforcement where non-compliance by retailers has caused harm to whānau; and working with relevant government bodies to ensure that all homes have the right to electricity retail ‘post pay’ contracts at a fair price.

Read the submission in full here.