Ann: GENERAL: MRP: Metrix to exit metering contract with Trustpower

• Release Date: 03/07/15 08:30
• Summary: GENERAL: MRP: Metrix to exit metering contract with Trustpower
• Price Sensitive: No
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					MRP
03/07/2015 08:30
GENERAL
PRICE SENSITIVE
REL: 0830 HRS Mighty River Power Limited (NS)

GENERAL: MRP: Metrix to exit metering contract with Trustpower

Mighty River Power's metering business Metrix confirmed today that it will
exit the contract entered into with Trustpower in July 2014, to provide
metering services.

Metrix Chief Executive Matthew Olde said following a review of systems
development to date and on-going requirements, it was decided that the best
option was not to proceed with the contract.

"While it is very disappointing to end the agreement prior to commencing
services, it has recently become clear that continuing could potentially
impact Metrix's core business in the short-term, and the contract was not
sustainable over the long-term.  The evolving and unforeseen complexities
involved in the systems development and integration and associated delays
have been key in reaching this decision."

Mr Olde said the key short-term focus of Metrix will be to continue with
investment to support its more than 20 energy retailers and distribution
customers to provide services to electricity consumers.

The capital expenditure that was previously allocated to the Trustpower meter
deployment will be considered within Mighty River Power's on-going capital
management.

ENDS

For further information:

David Glendining
Head of Communications
T 0272 105 337

Anna Hirst
Head of Investor Relations
T 0275 173 470
End CA:00266563 For:MRP    Type:GENERAL    Time:2015-07-03 08:30:02