Z Energy's foray into the retail electricity market has not been smooth sailing.
Z Energy's foray into the retail electricity market has not been smooth sailing.
Z Energy is refusing to comment on speculation that it is closing down its retail electricity business, Flick Electric.
BusinessDesk has been told that Z Energy is getting out of the electricity retail business after a less-than-successful foray into the sector beginning more than seven years ago.
BusinessDesk has beentold that Flick employees have been informed and a consultation will begin on Tuesday.
The proposal is to move the company’s 40,000 customers to Meridian.
A Z spokeswoman said the company did not comment on market speculation. Flick did not respond to inquiries.
If the information is correct, it will be another blow to competition in the sector, with many smaller retailers saying they are struggling to remain profitable in the current market.
