Genesis cleared to acquire NGC’s gas customers

Genesis cleared to acquire NGC’s gas customers

The Commerce Commission has approved an application from Genesis Power Limited (Genesis) to acquire the retail gas customers of Natural Gas Corporation Holdings Limited (NGC).

Genesis is a State Owned Enterprise that generates and retails electricity. Genesis presently provides billing and other services to NGC’s retail gas customers via its call centre, as part of the Genesis Energy branded dual fuel offering.

Chair John Belgrave said the Commission is satisfied that the proposed acquisition would not have, nor would be likely to have, the effect of substantially lessening competition in the regional markets for the retailing of gas to residential customers.

The Commission’s written decision on the application will be available soon on the Commission’s website, http://www.comcom.govt.nz/adjudication.

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