Electricity retailer Prime Energy defaults

Electricity retailer Prime Energy Limited (Prime) has defaulted after failing to meet its payment obligations.

Prime has about 320 mostly industrial and commercial customers, but none will be disconnected. All Prime customers have been asked to switch to another electricity provider by 5pm, Friday 9 May 2025. The Electricity Authority will allocate any remaining customers to other retailers.

Information for Prime customers is available on our Customer support webpage.

The trader default process was triggered on 24 April 2025 after Prime failed to meet its prudential security obligations to the clearing manager. Under the industry rules, Prime will not be able to provide electricity to its customers from Monday 12 May 2025 while in default.

Traders meet prudential obligations through payments or other security arrangements made to the clearing manager. Prudential obligations provide security to generators to ensure their invoices are paid for electricity that has been bought and consumed.