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

 

Mercury Seeks Clearance To Acquire Trustpower’s Retail Business

The Commerce Commission has received a clearance application from Mercury NZ Limited seeking to acquire Trustpower Limited’s retail business.

Mercury and Trustpower both generate and sell electricity and are two of the five ‘gentailers’ that operate in New Zealand (the others being Contact Energy, Genesis Energy and Meridian Energy). Both parties also sell gas to residential customers.

Under the proposed acquisition, Mercury will acquire Trustpower’s existing retail contracts to supply electricity, gas and fixed and wireless broadband and mobile phone services. Trustpower has approximately 234,000 customers across New Zealand. The proposed acquisition does not include any of Trustpower’s industrial or commercial electricity customers, nor any of its generation assets.

A public version of the clearance application is available on the Commission’s case register.

Background
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.

Further information explaining how the Commission assesses a merger application is available on our website.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



Climate Leaders Coalition: Launches New Statement Of Ambition, Appoints New CEO Convenor

The Climate Leaders Coalition is tonight officially launching a new Statement of Ambition to accelerate business action on climate change... More>>


Retail: New Law Paves Way For Greater Supermarket Competition

Legislation that bans major supermarkets from blocking their competitors’ access to land to set up new stores paves the way for greater competition in the sector, Minister of Commerce and Consumer Affairs Dr David Clark said... More>>



International Business Forum: NZ EU FTA Coming Down To The Wire – Hold The Line

As negotiations accelerate to conclude an ambitious free trade agreement between New Zealand and the European Union, the NZ International Business Forum (NZIBF), representing a cross section of major exporters... More>>


MYOB: New Data Shows Increase In SMEs Experiencing Stress And Anxiety

The lingering impacts of the COVID-19 pandemic have led to a surge in the number of local SME owners and operators experiencing stress and anxiety, according to new research from business management platform, MYOB... More>>



Carbonz: Cashing In On Carbon: The New Marketplace Helping Native Forest To Thrive

The country’s first voluntary carbon credit marketplace, Carbonz, is here to restore native biodiversity and help Aotearoa reach its carbon zero goals by selling the first carbon credits exclusively from native forest... More>>
Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>