Energy retailer energyclubnz is exiting the New Zealand energy retail market and its 11,600 customers’ energy supply will be switched to Contact Energy (‘Contact’).
energyclubnz has been selling electricity since June 2017 and gas since April 2019. Founder and CEO David Goadby said it was a tough decision to exit the market. "We've had a great three years and I'm very proud of what we've achieved: we’ve been one of the fastest growing energy retailers in New Zealand across the last three years and have seen our revenue go from zero to $20 million in that time. A huge thank you to everyone who has supported us, and to the fantastic team of people who helped make it happen."
He said agreement was easy to reach with Contact. “Since we approached Mike and his team last week, we’ve found them to be customer-focused, fair, straight up and easy to deal with. Contact is the best retailer to look after our customers in terms of service, pricing and stability.”
Contact CEO Mike Fuge said he was pleased too. "David and his team have built a business from scratch in a highly competitive retail market and that is not easy. We're looking forward to welcoming the energyclubnz customers to the Contact family, and we'll be working hard to look after them."
He said there would be no impact on the supply of energy to energyclubnz customers and the switching processes were under way behind the scenes.
The purchase price was not disclosed.
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