Pulse signs $39 million, 3 year supply agreement

Media Release 18 September 2012

Pulse signs $39 million, 3 year supply agreement

Pulse Utilities New Zealand Limited is pleased to announce that it has secured a three year electricity supply agreement effective 1 April 2013 with a major New Zealand generator. Included in the $39 million arrangement are cap products, peak period and base load hedges which will provide electricity price stability and reduce market risk/volatility. This arrangement secures approximately 60% of Pulse’s planned winter electricity requirements for the next three years and underpins the future profitability of the Company. CEO, Dene Biddlecombe, comments that finalising this deal is another key step in terms of securing Pulse’s future and allows the Company to plan with certainty for the forecast growth. Pulse will continue to seek additional supply arrangements and notes that it is well placed to benefit from the currently forecast over supply of generation and lower wholesale prices. The performance of the company’s hedge book over the dry winter continues to demonstrate the maturity of the Company’s electricity price risk management strategy. Pulse will be providing a full market update and year end forecast once six monthly accounts are complete in late October.

For information on Just Energy’s service and how to become a customer:
Call us on 0508 587 836 or visit www.justenergy.co.nz

ENDS

About Pulse Utilities New Zealand:
Pulse Utilities New Zealand Limited is the parent company of electricity retailer Just Energy, offering a fair deal and real value; independent electricity retailer and smart meter specialist, Pulse Energy; and specialist metering company, Pulse Metering Limited. Pulse Utilities New Zealand was listed on the New Zealand Stock Exchange – on the NZAX Board in November 2007.

About Just Energy:
Just Energy specialises in bringing competitive energy pricing to the New Zealand marketplace. Launched in July 2010, it is now one of the country’s fastest growing independent energy retailers. Just Energy customers enjoy the benefits of a fair deal and real value at their best possible local price.
www.justenergy.co.nz

About Pulse Energy:
Pulse Energy’s time-of-use metering system provides customers with the knowledge to shift their energy usage to more cost effectively and environmentally friendly times. Its metering systems are used by a range of customers including multi-tenanted apartments and office blocks, small businesses and residential homes.
www.pulseenergy.co.nz

About Pulse Metering:
Pulse Metering is a standalone meter and time-of-use meter data management company. It provides independent, specialist metering services to a growing number of electricity retailers and market participants.

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