Vector buys Contact's metering business for $63 million

Wed, 24 Oct 2012

Oct. 25 (BusinessDesk) - Vector is buying Contact Energy’s gas metering business for $63 million and is signalling an upgrade of the 128,000 meters acquired. "We have been trialing smart gas metering technology and in the longer term we hope to retro-fit this technology on the acquired gas meter fleet as customers request such technology,” Vector chief executive Simon Mackenzie said. Contact acquired the meters from Enerco in 1999 and their sale to Vector is subject to Commerce Commission clearance. Contact said it would retain ownership of...

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