Consumer says Electric Kiwi's move to stop taking new customers - should be a huge red flag for the Government

The power retailer says every new customer it takes on now will lose it money - with wholesale prices increasing nearly 50 percent this year alone.

It says the big four gen-tailers - Mercury, Contact, Meridian and Genesis - made record profits last year, topping two-billion dollars.

Consumer Spokesperson Jessica Walker says it's a bad sign when retailers are priced out of the market.

She says it's a question if competition is even working - as the big four gentailers own about 85 percent of the market.