Energy

Meridian exits Australia in A$729m deal

Staff reporters
Mon, 22 Nov 2021

Neal Barclay says the deal is an outstanding result for Meridian’s shareholders. (Image: Meridian)

Staff reporters
Mon, 22 Nov 2021

Meridian Energy is selling all of its Australian electricity sector assets, ending nearly two decades of investment in renewable wind and hydro generation and establishment of its retail brand Powershop across the Tasman.Today’s announcement follows a strategic decision earlier this year to examine an exit because of the “highly politicised” energy sector environment in Australia.The Australian arm of the multi-national oil company Shell will buy Meridian Australia’s 140,000-strong Powershop customer base while Infrastru...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News vie email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Wakeup Call FREE

Wakeup call: NZ Bus up for sale

Bernard Hickey | Thu, 02 Dec 2021

Months after settling an extended industrial dispute with drivers in Wellington and being rebuked by its council clients, NZ Bus is being put up for sale again.

Property

Click & collect: Bunnings doubles profits to $52m

Brent Melville | Thu, 02 Dec 2021

Building supplies group Bunnings had a good year, with net income more than doubling on the strength of a resurgent construction and DIY market.

Technology

'It's a breach': Vax pass data data storage concerning for Māori

Henry Burrell | Thu, 02 Dec 2021

There is a concern for the offshore storage of covid vaccine data and national awareness of vaccine passes.

Meridian exits Australia in A$729m deal

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team