Metrix to exit metering contract with Trustpower

3 July 2015

Metrix to exit metering contract with Trustpower

Mighty River Power’s metering business Metrix confirmed today that it will exit the contract entered into with Trustpower in July 2014, to provide metering services.

Metrix Chief Executive Matthew Olde said following a review of systems development to date and on-going requirements, it was decided that the best option was not to proceed with the contract.

“While it is very disappointing to end the agreement prior to commencing services, it has recently become clear that continuing could potentially impact Metrix’s core business in the short-term, and the contract was not sustainable over the long-term. The evolving and unforeseen complexities involved in the systems development and integration and associated delays have been key in reaching this decision.”

Mr Olde said the key short-term focus of Metrix will be to continue with investment to support its more than 20 energy retailers and distribution customers to provide services to electricity consumers.

The capital expenditure that was previously allocated to the Trustpower meter deployment will be considered within Mighty River Power’s on-going capital management.

ENDS

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