Meridian and Contact cleared of alleged trading breach

Thu, 22 Apr 2021

An Electricity Authority investigation into market conduct has found Meridian Energy and Contact Energy did not breach trading rules. However, the decision has left smaller electricity retailers fuming. The ruling is in relation to a time period in late 2019 and early 2020 when the two companies were spilling water. Meridian has been found by the regulator to have artificially inflated prices and created an 'undesirable trading situation' (UTS); however, the regulator said this fell short of breaching trading rules as well.Chi...

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