Meridian Energy has given an update on its stalled Oracle billing and CRM project in its interim financial report for the six months to December 31, released to the NZ Stock Exchange today.
The report notes that in November, Meridian decided to put its retail systems replacement project on hold after it realised project costs and duration were greater than originally planned.
“Work on alternatives is underway and it is anticipated that Meridian will have a clear view of future direction, including Ministerial Review impacts, before the end of the financial year.
“$10 million has been spent to date on this project, with no other financial commitments until decisions on alternate options are concluded.”
The statement about “Ministerial Review impacts” refers to the broad Ministerial Review of electricity market performance that is being conducted, not a specific Ministerial Review of the stalled billing and CRM project.
Computerworld reported the suspension in November after details were aired on the New Zealand Energy and Environment Business Week website.