Meridian's purchase of Flick from Z Energy will boost its market share to 18%. Photo / NZ Herald
Meridian Energy is paying $70 million for Z Energy’s electricity retail business – Flick Electric.
In statement to the NZX Meridian said the divestment by Ampol, the Australian based parent of Z, was about strategic fit as Z evolves its strategy to focus on public, business and
home EV charging.
Under the agreement, Meridian will take on all Flick and Z Energy branded electricity customers, the existing Flick hedge book and the Flick brand.
According to Electricity Authority data Flick had just over 41,000 customers.
Read more on BusinessDesk here.
