Meridian Energy's denying its purchase of Flick Electric is a takeover by New Zealand's big power companies. 

The power gentailer is paying $70 million to Z Energy for Flick's 41,000 electricity customers and the brand. 

It'll increase Meridian’s market share to 18%, maintaining its position as our fourth largest electricity retailer. 

Meridian Energy Chief Customer Officer Lisa Hannifan told Ryan Bridge this isn't about market consolidation. 

She says Flick wanted to leave the market to focus on transport and EVs, so they're pulling out of New Zealand and Australia. 

LISTEN ABOVE 

Meridian Energy's denying its purchase of Flick Electric is a takeover by New Zealand's big power companies.&nbsp;
The power gentailer is paying $70 million to Z Energy for Flick's 41,000 electricity customers and the brand.&nbsp;
It'll increase Meridian’s market share to 18%, maintaining its position as our fourth largest electricity retailer.&nbsp;
Meridian Energy Chief Customer Officer Lisa Hannifan told Ryan Bridge this isn't about market consolidation.&nbsp;
She says Flick wanted to leave the market to focus on transport and EVs, so they're pulling out of New Zealand and Australia.&nbsp;
LISTEN ABOVE&nbsp;

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Lisa Hannifan: Meridian Energy Chief Customer Officer on the company buying Flick Electric's electricity customers and brand

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d985858d-19ca-4c45-a66c-b2dc01658f85/transcript