Pulse Utilities powers its way to 20,000 customers

Pulse Utilities powers its way to 20,000 customers

By Peter Kerr

Jan. 26 (BusinessDesk) - Pulse Utilities Ltd., the smart meter developer and start-up electricity retailer has signed up more than 20,000 customers across New Zealand it said in a statement.

It launched its smart meter and flexible tariff based electricity brand Pulse Energy in May 2009, and its Just Energy no-frills, low cost electricity in mid-2010.

Managing director Dene Biddlecombe says the company that raised $4.25 million in private placements to 18 investors late last year, is on target to secure its goal of 60,000 customers by March 2013. Its investors include prominent racehorse owner Robert Famularo, CallPlus founder Malcolm Dick and Buller Electricity Ltd.

"Our success is a clear endorsement of the faith customers have placed in our message of lower prices, longer price guarantees and monthly meter reads," Biddlecombe said.

Pulse is listed on the alternative NZAX, and plans to launch electricity retailing in the Buller company's network area.

The company said there still needs to be an increased liquidity of the electricity supply market, and it encourages moves to reduce barriers to entry in the sector.

The company's structure has Pulse Energy, Pulse Metering and Just Energy all under the parent Pulse Utilities.

(BusinessDesk)

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