Matahina Power Station is owned by Manawa Energy. Photo: Manawa Energy / supplied
An independent electricity retailer warns the acquisition by Contact Energy of the country's fifth biggest power generator will ultimately cost consumers more.
The Commerce Commission announced approval yesterday for the acquisition of Manawa Energy by Contact.
Chair John Small says the Commission does not believe the deal will push electricity prices up for consumers.
The Major Energy Users Group has deep concerns about competition, and expects the government and regulators to closely watch that the decision does not increase already elevated prices.
Independent retailer Electric Kiwi chief executive Huia Burt says generator-retailers like Contact have been exercising market power to the detriment of consumers and businesses.
