Z sticks by unprofitable Flick as it prepares for future

Z sticks by unprofitable Flick as it prepares for future
Z Energy says it is still bankrolling Flick, because electricity is the way of the future. (Image: Getty)
Ian Llewellyn
Z Energy is not yet making any profit from its purchase of Flick Electric but says it will happen and it remains a core part of the petrol company’s diversification away from fossil fuels.Z recently completed the purchase of the remaining shares it did not hold in the electricity retail company for an undisclosed sum. Z has been the majority owner of Flick since 2018 and increased its stake from 85% to 95% in December after buying a stake held by Gisborne lines company Eastland Energy.The last shareholders to sell include prominent p...

More Energy

NZGIF chair resigns as ministers look for change
Politics

NZGIF chair resigns as ministers look for change

Tarrant said she was 'respecting the ministers' desire for new leadership.

Ian Llewellyn 12 Dec 2024
Coal use for electricity generation increases 150%
Energy

Coal use for electricity generation increases 150%

Coal and reducing operations at NZ's largest energy users got us through winter.

Ian Llewellyn 12 Dec 2024
Neal Barclay to exit Meridian as CEO
Markets

Neal Barclay to exit Meridian as CEO

Current CFO Mike Roan will take Barclay's spot atop Meridian.

Staff reporters 12 Dec 2024
Todd Corp: what went wrong?
Finance

Todd Corp: what went wrong?

A dividend freeze as the family empire rebuilds for the future.

Pattrick Smellie 12 Dec 2024