"O'Sullivan says part of the reason power is so expensive is New Zealand's poor quality housing. She believes the highly deregulated structure of the electricity market, and its focus on profit, is also to blame.

In the last decade, the four largest electricity companies - Contact, Genesis, Meridian and Mercury - increased their profit by more than 150 percent. In that time, their net profit totalled $7.7 billion..."

https://www.rnz.co.nz/news/national/494961/poverty-stricken-households-penalised-with-extra-fees-after-their-power-is-cut-off