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Contact Energy-Manawa Energy deal faces regulatory headwinds in New Zealand

( February 5, 2025, 05:39 GMT | Official Statement) -- MLex Summary: Electricity wholesaler Contact Energy’s attempt to acquire a 100 percent stake in Manawa Energy could lead to a substantial lessening of competition in certain New Zealand electricity markets, the country antitrust watchdog has warned. In a statement of issues announced in December but released today, the New Zealand Competition Commission said it was concerned about the deal’s impact on three national markets: the wholesale supply of physical electricity; the supply of “shaped hedges,” or contracts locking a customer into a fixed amount of electricity over a fixed period of time; and the retail supply of physical electricity. The Commerce Commission has set March 31 as the deadline for a decision.The New Zealand Commerce Commission's statement of issues is attached. ...

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