An economist is urging consumers to switch power companies if they think they're paying too much

A new report has found Kiwi power generators pocketed an extra 5.4 billion dollars in profits over seven years- over and above what they would have if the wholesale electricity market was truly competitive.

Economist Dr Stephen Poletti says that trickles down - and retail providers also take advantage of the lack of competition.

He says they can charge more because people aren't willing to change power companies - so consumers should first of all look at what other companies are offering.