Powershop
From Wikipedia, the free encyclopedia
 | |
| Type of business | Subsidiary |
|---|---|
| Founded | 2007 |
| Headquarters | , New Zealand |
| Area served | In New Zealand: Auckland, Hamilton, Tauranga, Rotorua, Taupo, Napier, Hastings, New Plymouth, Wanganui, Palmerston North, Wairarapa, Wellington, Christchurch, Dunedin, Queenstown, Invercargill |
| Founder | Ari Sargent |
| Key people | Margaret Cooney, Head of Powershop |
| Industry | Electricity retailing |
| Products | Electricity |
| Employees | Over 200 |
| Parent | Meridian Energy |
| URL | powershop |
 | |
| Founded | 2012 |
|---|---|
| Headquarters | , Australia |
| Area served | In Australia: Victoria, New South Wales, South East Queensland and South Australia. |
| Key people | Ed McManus, CEO |
| Industry | Electricity retailing |
| Products | Electricity & Gas |
| Employees | 150 |
| Parent | Shell Australia |
| URL | powershop |
| |
| Founded | 2016 |
|---|---|
| Dissolved | 2021 |
| Successor | E.ON Next |
| Headquarters | , United Kingdom |
| Area served | In the United Kingdom: England, Wales and Southern Scotland |
| Key people | David Winter, Head of Powershop UK |
| Industry | Energy retailing |
| Products | Electricity, gas |
| Employees | 10–50 |
| Parent | NPower |
| URL | powershop |
Powershop is an online electricity retailer founded in New Zealand, and also available in Australia. In New Zealand, Powershop is a subsidiary of Meridian Energy, 51% of which is owned by the New Zealand Government. The retailer operates through an online platform offering pre-pay and post-pay options.
In November 2021, it was announced that a consortium of Shell Australia and Infrastructure Capital Group would be acquiring Meridian Energy Australia Group, including Powershop Australia. Though subject to regulatory approvals, the transition was due to be completed in early 2022.[1] This development caused an uproar among many customers who opposed the takeover of Australia's greenest electricity provider by a multinational oil company.[2]
Meridian Energy traditionally had been a major electricity generator, but only a small retailer.[3] In 2006, Ari Sargent, a veteran of the electricity industry, presented the idea of selling electricity as a "fast-moving consumer item" to Meridian Energy.[4] Initially, they planned to sell electricity tokens in supermarkets, but they abandoned that idea due to cost and instead considered setting up an Internet marketplace.
Sargent, with Simon Coley, a design specialist, founded Powershop in September 2007. In September 2008, Powershop bought its predecessor, Meridian Energy's Marketplace Innovations Business Unit, for NZ$1.26 million in stock.[5] After 14 months of private beta testing, it was made unofficially available to all before being officially launched to the public on 22 February 2009.[6]
