Energyclub halts trading, blames unfair wholesale power market

Mon, 22 Jun 2020

Electricity retailer energyclubnz has sold its customer book to Contact Energy, citing a lack of confidence in the wholesale electricity market. The firm, which aimed to deliver power and gas at cost in return for a small weekly ‘club’ fee, had achieved 36 months of consecutive growth in a “torrid” three years in the wholesale market, founder David Goadby said. The firm had been in discussions with a couple of potential investors after media group Stuff sold out but had no confidence that the Electricity Authority would deal with long-sta...

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