I have just been made aware of this, some of my family are with Powershop- and they swear by the savings, also you can optionally pre-pay your power.
Unfortunately it is only available in Auckland, Waikato, New Plymouth, Wanganui, Palmerston North, Wellington, Wairarapa, Christchurch and Dunedin at the moment.

Webuy (an auction website owned by its members), has had a promotional agreement with Powershop-a new power company which is backed by Meridian energy.

Basicly with the competitive electricity market, Powershop is offering webuy members a $50 credit on their next power bill + a gauranteed $50 minimum saving on their annual bill (likely to be $200+ savings for an average family if you live in a main centre).

The only catch is that you need to sign up to webuy(easy and free) and then join Powershop(they handle the switch for you).

www.tinyurl.com/webuypromo to join webuy. Then just click the link on the webuy website for the Powerstore promo.

Please note, that the link is a refferal link, and for anyone that joins Powershop-I get $15 from Webuy. The promo may still work if you dont use the link, but I don't know for sure. It's up to you whether you use the link or not- I just thought I would let people know about the promo.