New Zealand households and small businesses will soon have a simpler way to slash their electricity bills

Open Electricity will let users compare thousands of power plans based on their actual electricity use - rather than estimates.

Energy Minister Simon Watts says many Kiwis struggle to access their own data or switch providers, and the new system is designed to remove those barriers.

He says they're confident switching to the right plan will help Kiwis save 358-dollars a year.