Ambitious Powershop develops Oz market

Ari Sargent says Powershop is eyeing Britain and Singapore.

Kiwi energy company Powershop is expanding its Australian market before targeting Europe and Asia next year.

Powershop chief executive Ari Sargent said the company was working through the final details and would launch in New South Wales in the next few months.

"We're excited about NSW, that's imminent," Sargent said. "It's a bigger market again than Victoria and it's good for us and it becomes a bit of a launching pad for the next one as well. The more we can get under our belt the more prepared we are for those bigger markets."

These bigger markets include a focus on Asia and Europe with Sargent saying the UK and Singapore are likely to be the next cabs off the rank.

"We're actively looking at [the UK and Singapore] for opportunities at the moment," he said. "Our track record is great customer satisfaction and that's something that certainly in New Zealand and Australia is viewed favourably so that's what we're looking to replicate in those bigger markets."

The online electricity company, which allows its customers to buy electricity as they go, has more than 30,000 customers in Australia and Sargent said it was the flexibility and choice that made Powershop so unique.

"Ultimately it is control," Sargent said. "Rather than sending a customer a bill and telling them there's a certain amount of time to pay it, you're allowing customers to log on whenever they like and buy as much power as they want. They can do it on payday or $10 a week or whatever they want to do, so at a functional level that gives them a lot of flexibility."

In six years, Powershop has grown from a staff of four to 140.

Spreading out
•Powershop is expanding into New South Wales.
•The company is also looking at opportunities in Asia and the UK.
•Currently has more than 30,000 customers in Victoria.