Verve Energy was restricted from the direct sale of electricity to consumers for a designated period under the Electricity Corporations Act 2005. Synergy was also prohibited from generating electricity for a designated period.
These two provisions have now been repealed as a result of the 2014 Synergy and Verve merger.
In 2010, prior to the merger the Minister for Energy requested the ERA provide its views about the effect of the restrictions and prohibitions on the encouragement of competition in the generation, retail and wholesale electricity markets.
We published an issues paper in January 2011 and received 11 submissions. Our final report was delivered to the Minister for Energy and published on our website in April 2011.
In March 2013, the Minister gazetted a decision to extend the restriction on Verve Energy and Synergy until 1 April 2016.
This prohibition was made redundant with the introduction of the Electricity Generation and Retail Corporation (EGRC) Regulatory Scheme and the merger of Verve and Synergy on 1 January 2014.
This information is provided for historical purposes only.