Mercury bundles up as Trustpower unburdens

Former Trustpower CEO and current Mercury CEO Vince Hawksworth stands at the centre of a very significant transaction.

Tue, 22 Jun 2021

Trustpower’s sale of its retail customer base to Mercury is one of the most significant transactions in the electricity sector for years.On one hand, Mercury gains some 231,000 new retail customers to add to the 331,000 it already has, putting the Auckland-based company in line to knock off Genesis Energy as the country’s largest energy retailer.Since its market share would still only total about 27%, there’s every chance the Commerce Commission will approve this, particularly given how easily a large number of small-scale ret...

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