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

 

Customer Sale To Genesis Concluded

NGC North Island Electricity Customer Sale To Genesis Concluded


Natural Gas Corporation Holdings Limited (NGC) advises it has concluded the sale of its 290,000 North Island electricity customers to Genesis Energy, as detailed in the Company’s announcement of 25 July 2001.

The Managing Director, Mr John Barton, said the agreement for NGC to provide transitional call centre, billing and credit services for these customers over the next several months had also been finalised.

Settlement of the sale agreement finalises NGC’s withdrawal from the retail electricity market. NGC continues to be involved in the electricity market through its electricity generation operations. It also retains a natural gas customer base of approximately 100,000 industrial, commercial and residential gas users throughout the North Island, as well as strong gas infrastructure and processing operations and an expanding LPG business.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO: