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ERANZ lifts representation to 99.5% as Flick Electric joins

ERANZ lifts representation to 99.5 per cent as Flick Electric joins

The Electricity Retailers Association of NZ (ERANZ) now represents 99.5 per cent of electricity retailers by market share after Flick Electric Co was yesterday confirmed as the latest company to join.

ERANZ Chief Executive Jenny Cameron said she was delighted to welcome the fast-growing Flick Electric Co.

“Getting more retailers on board has been an ongoing target since ERANZ was formed in 2015, and we’re pleased that work is paying off. This increases our voice on the issues that matter to the retail sector and our customers.”

ERANZ Independent Chair Jennie Langley said she saw this as great recognition for the work ERANZ has been doing in promoting an open and competitive market, and improving the understanding of the retail market.

She said ERANZ had been looking recently at the balance around the Board table between the size of retailer, and whether that could be improved.
“The Board decided they wanted to ensure ERANZ was as representative as possible, and ensure we were addressing the strategic issues that are important across the whole sector. As a result, the Board decided to re-adjust the tiers for membership and that meant creating a new Board position.

“We are pleased that retailers such as Flick can see the value and potential of becoming a member and we are happy to welcome them on to the Board.”

Flick CEO Steve O’Connor said joining ERANZ and its Board was a great opportunity to bring a smaller, digital retailer perspective to their work programme. “We are committed to helping evolve the energy retail market in the best interests of consumers, and look forward to making a strong contribution to ERANZ’s work.”

Flick was launched in 2014 as the first retailer to offer spot wholesale prices directly to residential customers, using half-hourly data collected from smart meters. From less than 10,000 ICPs a little over a year ago it now has more than 23,000 customers.

Before Flick joined, ERANZ represented retailers holding 98.5 per cent of the market share.

Members of ERANZ are now: Genesis Energy, Contact Energy, Mercury, Meridian, Trustpower, Nova Energy, Pulse Energy, Prime Energy, Powershop, Energy Online, Bosco, Glo-bug, Grey Power Electricity, Just Energy, Blackbox Power, King Country Electricity, Tiny Mighty Power, and Flick Electric Co.

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