Trustpower shareholders back sale to Mercury

Wind and other renewable energy is the way forward, Trustpower says, despite concerns about the regulatory outlook. (Image: Deposit Photos)

Ian Llewellyn

Wed, 22 Sep 2021

Trustpower shareholders have indicated their approval for the sale of its retail business to Mercury Energy and a move to becoming a generation-only company called Manawa Energy.The $441 million deal will result in Mercury buying retail electricity, gas and telecommunications services from Trustpower.The deal adds 252,000 electricity customers to Mercury’s existing customer base of more than 331,000 electricity customers, making it the largest electricity retailer.Proxies at the shareholders meeting were overwhelmingly in support wit...

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