What does a hot water cylinder (electric) cost to run?
In New Zealand, a typical hot water cylinder (electric) for a two-person household costs around $31/month at the current national average rate of 40.6c/kWh. EECA figures: electric cylinders use about 2.1 kWh/person/day on average. Usually heated overnight via ripple control.
| Region | Rate | Monthly |
|---|---|---|
| Queenstown | 40.3c/kWh | $31 |
| Dunedin | 39.6c/kWh | $30 |
| Christchurch | 36.6c/kWh | $28 |
Could swap for a hot water heat pump
a hot water heat pump uses about 33% of the energy, cutting the monthly bill to roughly $10. Over a year, that's $251 back in your pocket. Hot water heat pumps cost $4,000-$5,500 installed but use a third of the energy.
Frequently asked
How much does a hot water cylinder (electric) cost to run in NZ?
At the national average electricity rate of 40.6c/kWh, a typical hot water cylinder (electric) costs about $31 per month, or $374 per year. Actual costs vary by region and how heavily you use it.
Which NZ region has the cheapest hot water cylinder (electric) running cost?
Of the five centres shown on this page, Christchurch is the cheapest at $28/month, and Queenstown is the most expensive at $31/month. The 30% spread reflects regional MBIE retail rates.
Is there a cheaper alternative to a hot water cylinder (electric)?
Yes - swapping to a hot water heat pump would use about 33% of the energy, saving roughly $251 per year. Hot water heat pumps cost $4,000-$5,500 installed but use a third of the energy.
Any tips for reducing this cost?
Lower the thermostat to 60°C and insulate the cylinder to cut this 10-15%