NZX Not Reappointed As Gas Allocation Agent

NZX announces that following a competitive tender process, it has been advised by the Gas Industry Company that it has not been reappointed to the Gas Allocation Agent role.

NZX has held the Gas Allocation Agent contract since 10 June 2009, following NZX's purchase of M-Co Limited, which had held the role since 2008. The five year contract included an option of two potential two year renewals, however the Gas Industry Company decided to put the role to tender after the initial five years. The contract was valued at $680,000 per year.

The existing contract expires on 30 September 2013 and NZX is currently in the process of discussing transition services with the Gas Industry Company for the period required for the new provider to take over the role.