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]
History
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.