RMG snares more power companies

The new customers join the 75% of companies who signed up with RMG last month.

RMG chief executive Paul Cooney says the new agreement will significantly reduce the opportunity for customers to avoid payment of power bills by regularly switching companies.

"Now that we are able to facilitate the exchange of credit information on over 90% of all energy customers, defaulters will find that they can run but they can't hide. We hope to have 100% customer coverage by the time the service goes live in February.

Mr Cooney says the database service, which is currently being developed in liaison with power companies, will use an internet platform through which the power companies will be able receive and share customer credit information.

"This initiative will save the power industry millions of dollars a year, with the potential for a 10-15% reduction in the level of bad debt write-offs the industry incurs annually. Given the considerable savings for the power industry, this initiative will also have positive income implications for RMG."

Nigel Hamilton, CreditNet Product Manager for New Zealand, said RMG's CreditNet service will create significant efficiencies when customers switch from one power company to another.

"Managing the exit and entry of the 250,000 customers who switch power suppliers each year is a considerable challenge for power companies. The use of modern online tools, allowing for effective communication and information exchange, can achieve substantial efficiencies."

Following a decision last year by power suppliers to work together as one group on credit information, RMG was selected as the single preferred supplier.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Special Report: Strathmore Untangled