Changes to the Pulse Energy Business Agreement

The following changes to the Pulse Energy Business Agreement come into effect on 1 April 2015,

This document provides a brief summary of the changes to your Pulse Energy Business Agreement. For further details please read the full Agreement at www.pulseenergy.co.nz/agreement. If you have any questions or require further information about a specific change, you may call Pulse Energy and we will assist with your query.

Please note that in the event of any inconsistency, the terms and conditions in our Business Agreement prevail over those contained in this change notification document. Where context permits, terms used in this document have the meaning attributed to them in the full Business Agreement.

Section

Nature of Change

Details

Explanation

Entire Agreement

Modifications

Changes to the terms and conditions have been made to reflect the requirements of changes to the Fair Trading Act which came into force on 17 March 2015. These changes restrict the ability of Pulse Energy to include terms in its consumer contracts that may come within the definition of an “unfair contract term” and to ensure that its terms and conditions are transparent and user friendly. These changes will apply to the Pulse Business Agreement.

A key element of these Fair Trading Act changes is that the terms and conditions must be transparent and in plain English so that customers are able to easily understand their rights and obligations under the agreement.

Pulse considered that some on the terms in the terms and conditions should be amended to take into account the changes to the Fair Trading Act.

In general, the changes that have been made are to bring some important terms upfront in the agreement to ensure that they are transparent and to amend some of the other terms and conditions to make them clearer and more user friendly (for example, a number of changes have been made to the liability section so that it is clear to you when you have a right to make a claim, when you are unable to make a claim and in what situations you may be liable to Pulse or the electricity distributor).

Entire Agreement  Modifications

Changes were also made to clarify that, as a business customer, you are acquiring electricity from us in trade and, therefore, the relevant guarantees provided to consumers under the Consumer Guarantees Act will not apply to supply to you under this business agreement.

Pulse is able to exclude the application of the guarantees relating to the supply of electricity under the Consumer Guarantees Act to the extent that electricity is being acquired by a customer in trade.