Pulse Passes Electricity Commission Audit

JANUARY 30, 2008

Pulse Passes Electricity Commission Audit With Flying Colours

Newly listed smart electricity meter company, Pulse Utilities, reports that it is making good progress towards its business plan objectives, with two external audits confirming the operational capability of the company.

Pulse has recently undergone an external audit to comply with the Electricity Commission’s Governance Rules, focusing on key meter and meter data elements. And a second audit has also reviewed the company’s ISO9001 certification.

Both audits have been passed without conformance issues being raised and Pulse remains on track to launch its smart meter service in April, with the prospect of delivering 30% savings on power to customer.

Pulse CEO, James Martin, says the company is commitment to maintaining a mature and managed approach to growth.

Projects underway include the implementation of a $100,000 IT infrastructure upgrade to ensure performance and reliability. This investment is in addition to the company's ongoing implementation of back office systems, CRM and billing with industry partner and leader Talgentra.

“Customer management is key to our business success”, says Mr Martin.

“The advantage we have as a new entrant is that all of our systems are the very latest and best of breed and we are up to date with the new Electricity Commission and Governance rules.

“Pulse is going to be the most advanced electricity retailer in New Zealand with every customer having a smart electricity meter and their electricity being managed by our time of use electricity trading platform.”

About Pulse

Pulse listed on the NZAX on 29 November 2007. Pulse plans to commence operations as an electricity retailer and offer up to 30% lower electricity prices to consumers in order to get them to sign with Pulse.
Pulse will then attach its smart electricity meter and charge a fixed daily fee. With the meter asset on the wall Pulse will offer additional services to the consumer including alarm monitoring, home automation, and the ability for private generators to sell their electricity produced back onto the grid or directly to consumers.

Customers of Pulse will have the ability to use the information provided from their smart meter to further lower their electricity bill should they wish. Pulse has recently gained Electricity Commission approval to commence roll out to reach its first year target of 1,800 commercial customers which it plans to commence from April 2008. Pulse’s business plan aims for 60,000 New Zealand customers at the end of year 5.

ENDS

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