Z sticks by unprofitable Flick as it prepares for future

Z Energy says it is still bankrolling Flick, because electricity is the way of the future. (Image: Getty)

Mon, 01 May 2023

Z Energy is not yet making any profit from its purchase of Flick Electric but says it will happen and it remains a core part of the petrol company’s diversification away from fossil fuels.Z recently completed the purchase of the remaining shares it did not hold in the electricity retail company for an undisclosed sum. Z has been the majority owner of Flick since 2018 and increased its stake from 85% to 95% in December after buying a stake held by Gisborne lines company Eastland Energy.The last shareholders to sell include prominent p...

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