Genesis gets go-ahead to purchase Energy Online

Commission chairman John Belgrave said in a statement today the proposed purchase, from small technology company Newcall Group, would not substantially lessen competition in the electricity retailing market.

Genesis is the country's largest electricity retailer with about 450,000 customers. It owns seven power stations in the North Island including the Huntly Power Station, Tongariro Hydro Scheme, Waikaremoana Hydro Scheme, Hau Nui Wind Farm in the Wairarapa and a number of co-generation plants.

Energy On Line is an electricity retailer with customers in the North Island from Taupo north, including Tauranga and Hawkes Bay. The business comprises about 80 percent of Newcall's revenue.

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