Contact Energy cleared to buy 100% of Manawa Energy shares
RNZ / Nate McKinnon
The Commerce Commission has granted clearance for Contact Energy Limited to acquire up to 100 percent of the shares in Manawa Energy Limited.
The regulator said it looked at effect of the merger on supply and prices in the wholesale electricity and came to the conclusion it would not substantially lessen competition.
Commission chair John Small said it did not believe the deal would push electricity prices up for consumers, or lead to the two companies being able to coordinate supplies in the market to their own advantage.
He said they were satisfied the two companies woiuld compete in supplying to other power companies.
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