Meridian Energy says prices will rise in some areas of the country in April but Christchurch will be excluded for six months.
The state-owned energy company appeared before Parliament's commerce select committee on Thursday.
It said after a two-year price freeze, there is pressure to review energy prices so more money can be invested in increased generation capacity.
Meridian told MPs that although prices will go up in some areas, in others they will go down or not change at all.
Meridian chief executive Tim Lusk told the committee it was surreal to be discussing the company's financial position when its 400 staff in Christchurch are feeling so fragile after the earthquake.