Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


M-co wins Award for Excellence : Internet Commerce

26 June 2000

M-co wins Award for Excellence in Internet Commerce

M-co, the company that administers New Zealand’s electricity market, has just won the prestigious Computerworld Award for Excellence in Internet Commerce for its Commodity Market Information and Trading (COMIT) site.

“COMIT was the first, and remains the only, wholesale physical electricity trading system in the world accessible through the web,” said Philip Bradley, Chief Executive of M-co. “This award for COMIT is a tribute to our current design team as well as many of the people who have contributed to its development since 1994. Our electricity market customers have also played role in the constant improvement of the system. Without their suggestions and requests, COMIT wouldn’t be as useful or as successful as it is.”

COMIT supports the trading of the electricity market by linking buyers and sellers on-line and has run without a single default in payment since its introduction in October 1996.

“COMIT just reached the $5 billion milestone for transactions traded, which equates to $1.2 billion per year going through the site. Every day it processes approximately 80,000 electricity transactions and publishes more than 0.6 million related records,” said Mr Bradley. “This makes COMIT the busiest and biggest e-commerce enterprise in New Zealand by volume and value of transactions.”

The Computerworld awards were instituted three years ago as a means of recognising excellence amongst those working in the rapidly changing IT sector and to give greater prominence to IT success stories.

For further information please contact
Philip Bradley, Chief Executive
Ph +64 4 473-5240 (bus), 025 916-186 (mobile)

© Scoop Media

Business Headlines | Sci-Tech Headlines


21, 22, 23 December: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>


24/7: National Geohazards Monitoring Centre Opens

For the first time, New Zealand will have 24-7 “eyes on” monitoring of the four perils: earthquake, tsunami, landslides and volcanic activity. More>>


EU Wine Exports: Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>


Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>


'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>