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Todd Energy Seeks Share Of Wgtn Electricity Market


NEWS RELEASE


For Immediate Release

October 26 2000

TODD ENERGY SEEKS SHARE OF WELLINGTON ELECTRICITY MARKET

New Zealand’s most diverse indigenous energy company, Todd Energy, will add a competitive edge to the Wellington retail electricity and gas market from next week.

A Todd Energy subsidiary - electricity and gas retail company FreshStart Energy - begins trading in Wellington on November 1.

Todd Energy is a substantial producer of electricity and gas, including substantial gas reserves beyond Maui at the Kapuni and new Pohokura fields.

Todd Energy managing director Richard Tweedie said the Wellington market was perfectly placed for competition.

“We already have a supply presence in the Wellington region through Nova Gas, which supplies industrial and commercial users including Wellington City Council, Kenepuru Hospital, Parliament Buildings, and many other major Wellington government departments and businesses. Nova has also built its own pipeline networks in Wellington,” he said.

“Nova Gas has delivered significant benefits to industrial gas customers. FreshStart Energy is offering comparable pricing benefits to residential electricity and gas customers. We offer a much lower fixed daily charge than Transalta.”

FreshStart Energy’s fixed daily charge for electricity is 60c, 25c lower than Transalta. The unit tariff for electricity is also lower.

Mr Tweedie also said the perceived problems with changing companies were no longer an issue.

“We are confident the transfer will be hassle-free for our new customers. We know FreshStart Energy has cheaper electricity and we’re sure we can offer better service. We make it particularly easy to switch power companies. Customers only have to sign up, collect the savings, and not worry about anything else,” he said.
…CONT
In the rush towards Christmas, FreshStart Energy is offering the extra incentive of a $50 voucher to new or switching customers. The voucher incentive has proved a success in FreshStart Energy’s other regions.

FreshStart Energy began trading in the retail electricity and gas markets over 12 months ago in Taranaki. The company has since spread to include Wanganui, Manawatu, and Wairarapa customers.
ENDS
For further information, please contact:
Richard Tweedie, Managing Director, Todd Energy. Tel: 04 471 6555
or
John Fraser, General Manager, FreshStart Energy. Tel 471-6555
or
Paddy Lewis, FreshStart Energy. Tel: 917 8244 / 025 871 360

NOTES
Anyone wanting to switch companies or get more information can call 0800 600 900 or visit www.freshstartenergy.co.nz

FRESHSTART ENERGY WELLINGTON RESIDENTIAL & BUSINESS ELECTRICITY PRICING COMPARISONS:
Based on a small [4,000 kWh per annum] residential customer ($57 monthly bill)
Fixed daily charge Unit charge Savings (per annum after switching to FreshStart Energy )
FreshStart Energy $0.60c $0.09c $111.00
TransAlta $0.85c $0.095c

Based on an average [8,000 kWh p.a.] residential customer ($90 monthly bill)
Fixed daily charge Unit charge Savings (per annum after switching to FreshStart Energy )
FreshStart Energy $0.60c $0.09c $130.00
TransAlta $0.85c $0.095c

Based on an average [15,000KWh p.a.] small business customer ($210 monthly bill)
Fixed daily charge Unit charge Savings (per annum after switching to FreshStart Energy )
FreshStart Energy $1.20c $0.12c $282.00
TransAlta $1.69c $0.127c

ENDS

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