Energy Market Applies To Acquire The Marketplace

Energy Market Services applies for clearance to acquire The Marketplace Company

The Commerce Commission has received an application from Energy Market Services Limited (EMS) seeking clearance to acquire all of the shares of The Marketplace Company (M-co).

EMS is a wholly-owned subsidiary of Transpower New Zealand Limited. It was established by Transpower in 1998 and known at that time as d-Cypha Limited. In 2004 it changed its name to Energy Market Services Limited. EMS’s main activity is the role of Reconciliation Manager at the wholesale level of the electricity industry. This involves performing monthly reconciliation of metering data against a register of contracts. EMS also provides data information services to various participants in the electricity industry.

M-co is a wholly-owned subsidiary of M-co International Limited and is ultimately owned by the FirstRand Group, a South-African based international financial group. M-co provides a range of services to industry participants, mostly in the electricity industry. These include market support and administration services to the Electricity Commission, market information services and consultancy services to industry participants.

In considering the application, the Commission’s role is to determine whether the acquisition would have the effect of substantially lessening competition in a market.

A public version of the application will shortly be available on the Commission’s website www.comcom.govt.nz under Public Registers.

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