Ian Llewellyn

1 day ago | businessdesk.co.nz | Ian Llewellyn

"If best done ..." There have been many words written on the Government’s move to wind back pay equity law, some of them outright obscenities, however sometimes the old journalistic adage “follow the money” is the best way to cut through the rhetoric of what has taken place.Although in this case the actual numbers are all a bit murky, described variously as "billions" and "large".Ministers’ argument for the sudden move from a process which National had previously embraced with open arms...

2 days ago | businessdesk.co.nz | Ian Llewellyn

Flick Electric was not making a profit before its owner, Z Energy, sold the electricity retail company to Meridian for $70 million.Z confirmed on Tuesday that it was getting out of retail electricity at the same time as its parent company, Ampol, was going down the same path in Australia.The Meridian deal means Flick’s 41,000 customers and its hedge portfolio will be transferred to the company along with further fees to manage that process over the coming months.Flick currently has a 1.81%...

2 days ago | nzherald.co.nz | Ian Llewellyn

Meridian's purchase of Flick from Z Energy will boost its market share to 18%. Photo / NZ HeraldMeridian Energy is acquiring Z Energy’s electricity retail business, Flick Electric, for $70 million. The acquisition will increase Meridian’s market share to 18%, maintaining its position as the fourth largest electricity retailer. Flick will provide transitional services to Meridian for an $825,000 monthly fee for up to six months.

2 days ago | businessdesk.co.nz | Ian Llewellyn

Meridian Energy is paying $70 million for Z Energy’s electricity retail business – Flick Electric.In statement to the NZX, Meridian said the divestment by Ampol, Z's Australian parent, was about strategic fit as Z evolves its strategy to focus on public, business and home EV charging.Under the agreement, Meridian will take on all Flick and Z Energy-branded electricity customers, the existing Flick hedge book and the Flick brand.The agreement follows Meridian's selection as the preferred party...

2 days ago | businessdesk.co.nz | Ian Llewellyn

Bold actions are required in the electricity sector to prevent the further deindustrialisation of the economy, says the Major Electricity Users Group.With two reviews coming to their final stage, Major Electricity Users Group (MEUG) chair John Harbord said tinkering over the last six years had not fixed businesses' fundamental problems.A ministerial review led by international consultancy Frontier Economics will be released publicly next month.