Meridian readies launch of NSW PowerShop, laments large-scale ‘paralysis’

New Zealand renewable energy giant Meridian Energy is about to launch its unique online energy retailer PowerShop in the NSW market, and has launched another broadside against the Australian government over its renewables policy.

Meridian launched PowerShop in Victoria last year, in what was hailed as a major challenge to the incumbent retailers. Meridian says it now has more than 30,000 customers and intends to launch into the big NSW market in the next six weeks.

However, it said uncertainty about the renewable energy target in Australia had “paralysed” investment in renewable generation.

“The RET is mired in politics and the political parties have been unable to reach any compromise that might deliver some degree of certainty for Australia’s renewable energy industry,” the company said.

“(It is) unclear when a stable, bipartisan energy policy that supports renewables may return.” Instead. Meridian, which completed the 130MW Mt Mercer wind farm in Victoria late last year, will now focus on its retail product in Australia.

Meridin joins the growing number of international companies frustrated with the continuing standstill in the renewables industry in Australia, which has seen little new large scale generation in the past year.

Earlier this week, another NZ firm, TrustPower said the RET impasse had brought the industry to a standstill and it had ceased investments. Last week, a 1.2GW portfolio of large scale solar projects owned by Recurrent Energy was sold to Canadian Solar for nothing.