Approximately 30,000 customers are changing their power companies every month as the fight for new customers has become hot and consumers are going after better deals.

According to a report by Price Waterhouse Coopers, the rate of switching has risen largely in the past couple of years and has attained its highest level in August 2001.

According to PWC partner Chris Taylor, the retailers are targeting certain customer segments with more aggression, while customers are changing to supplier which provide for more savings.

Consumer NZ has stated that a small household has the capacity to save up to $442 per year simply by switching providers. Meanwhile the savings for large households are further more by great heights.

According to the report, Contact Energy was hit the most, following a controversy regarding fees of directors in 2008, when 40,000 of its customers went out of its hand in six months. However, it continues to have one of the biggest portfolios of customers, approximately 489,000 ICPs.

However the rising number of switches had resulted in higher costs for retailers for acquiring and retaining customers, thereby putting pressure on retail margins. It is thus becoming harder for the retailers.