GENERAL: PLU: Switching Media Release 15 June 2010

15 Jun 2010 3:31 pm

PLU 15/06/2010 GENERAL

REL: 1531 HRS Pulse Utilities New Zealand Limited

GENERAL: PLU: Switching Media Release 15 June 2010

Electricity industry needs better behaviour around switching

Pulse Energy, New Zealand's independent electricity retailer today called for a tightening up of the rules around customer switching in the Electricity sector.

Pulse says customers should have the right to switch electricity retailers if they choose to without being subjected to a series of callbacks from their previous electricity supplier. The company believes a fairer system for all would be one similar to that employed by the Telecommunications industry where there is no communication between retailers and their customer once a switch has been instigated.

This would be in line with improvements outlined in last year's Ministerial Review into Electricity Market Performance, which encouraged greater competition between retailers. Pulse CEO, Dene Biddlecombe, says he knows of a number of instances where customers wanted to switch to Pulse but were coerced into remaining with their original electricity retailer after receiving a number of phone calls from them.

"People are being pressured into staying with their original supplier through a series of aggressive and intimidating tactics which we feel are contrary to fair trading conditions", says Biddlecombe. He stressed "these actions are at odds with encouraging greater competition and facilitating switching for customers which was recommended by the Ministerial Review.

The Electricity Commission will release its figures for customers who made the switch to Pulse in May before the end of the month. These figures are healthy despite the pressure that has been brought to bear on customers wishing to change electricity retailers.

For more information contact: Dene Biddlecombe Chief Executive Officer Pulse Utilities Tel +64 9 378 9981 Email: dene.biddlecombe@punz.co.nz www.punz.co.nz

About Pulse Utilities: Pulse Utilities New Zealand Limited was listed on the New Zealand Stock Exchange - on the NZAX Board in November 2007. www.punz.co.nz

About Pulse Energy: Pulse Energy is the trading name of Pulse Utilities New Zealand (PUNZ). Pulse Energy is committed to bringing lower cost electricity to New Zealand Households. It is also the country's fastest growing independent electricity retailer. Incorporated in 2004, PUNZ developed unique and patented technology to easily and efficiently measure utility usage through their Smart Meter device. In 2007, the company was listed on the NZAX. www.pulseenergy.co.nz

[Ends] End CA:00196132 For:PLU Type:GENERAL Time:2010-06-15:15:31:41

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