Flick not profitable before $70m sale to Meridian

Aggressive advertising campaigns won customers, but not profits for Flick. (Image: NZME)

Tue, 13 May 2025

Flick Electric was not making a profit before its owner, Z Energy, sold the electricity retail company to Meridian for $70 million.Z confirmed on Tuesday that it was getting out of retail electricity at the same time as its parent company, Ampol, was going down the same path in Australia.The Meridian deal means Flick’s 41,000 customers and its hedge portfolio will be transferred to the company along with further fees to manage that process over the coming months.Flick currently has a 1.81% market share based on ICPs (customer connect...

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