Meridian Hikes EV Overnight Power Prices by 60%

An electric vehicle owner in Hawke’s Bay has expressed feelings of betrayal after Meridian Energy announced a 60% increase in the overnight power rate for his Electric Vehicle Power Plan, effective 1 May 2026.

The customer, John Crook, received notification that his night rate would rise from 12.34 cents per kilowatt-hour to 19.75 cents per kWh, a change he described as shocking given his efforts to charge his vehicle during off-peak hours to minimise costs.

In addition to the overnight rate increase, Meridian advised Mr Crook that his daytime power rate would increase by 25%, from 30.15 cents to 37.65 cents per kWh, and his daily line charges would rise by 28%, from 207.93 cents to 266.10 cents per day.

Mr Crook calculated that the combined effect of these changes would increase his average annual power bill by approximately 45%, significantly undermining the financial benefits he had expected from owning an electric vehicle.

He criticised the timing and magnitude of the increase, arguing that raising the price of off-peak power disproportionately discourages the very behaviour electricity networks aim to encourage through time-of-use pricing.

Mr Crook noted that after investigating alternative providers, he found Meridian’s new prices were generally in line with those of other major electricity retailers in New Zealand, with none offering significantly cheaper rates for EV-specific plans.

Meridian Energy has not publicly detailed the specific reasons for the price adjustments in this instance, though the company has previously attributed similar changes to rising lines and distribution network costs approved by the Commerce Commission.

The increases come amid broader concerns about the affordability of electric vehicle ownership, with industry observers warning that unexpected rises in charging costs could slow consumer adoption at a time when government policy encourages a shift away from fossil fuels.

For Mr Crook, the experience has led him to question the long-term viability of relying on time-of-use plans to manage household energy costs, particularly as regulatory approvals allow network companies to recover increasing infrastructure investments through consumer charges.