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Tasman Capital
09-11-2007, 08:54 AM
With the listing of Pulse Utilities planned for this month I think it appropriate that Pulse have a thread of its own. Also many of the readers of this forum are shareholders in Tasman Capital and will automatically become shareholders in Pulse prior to the listing of Pulse via the compliance listing method facilitated by Tasman.

The business media are beginning to pick up on the Pulse story – I will post the original press release that started the recent media coverage so you can see the full story.

Disclosure: My name is Joseph van Wijk and I am a director of Tasman Capital and have recently been appointed a director of Pulse Utilities.

Tasman Capital
09-11-2007, 08:57 AM
Here is the original press release:

MEDIA INFORMATION

NOVEMBER 6, 2007

Power Retailing in New Zealand Set To Be ‘Unbundled’ As Pulse Utilities NZ Aims For NZAX Listing

The power retailing industry in New Zealand is on the way to being ‘unbundled’, with energy company Pulse Utilities NZ announcing its proposed listing on the NZAX in mid-November.
Following several years of development, Pulse is on track with its plans to give New Zealand consumers access to significantly cheaper electricity and roll out a network of smart electricity meters to provide consumers with more control over their electricity usage.
Pulse believes household electricity consumers and small businesses have had a raw deal for many years, paying far too much for their power and are facing more rises in the future through their traditional suppliers. Pulse intends to deliver cheaper power to its customers – much closer to the wholesale price, says James Martin founder and CEO of Pulse.
In addition the patented smart meter technology will allow consumers to make better choices on how they use power.
Pulse directors believe the potential for its business is significant, with growing disquiet among consumers about rising power prices. Pulse is a registered electricity retailer, one of only seven able to offer time-of-use electricity supply contracts. Its business model is based on offering consumers lower cost electricity whilst retaining a fixed daily fee for asset rental and retail services. This strategy will deliver significant growth in its asset base and provides utility-grade ongoing cash-flows. In time, additional services, such as alarm monitoring and home automation will be added to the same smart device to provide additional revenue in the future, thus increasing the “stickiness” of the asset, according to Mr Martin.
In a letter to shareholders, Pulse directors state: “With a successful listing, a larger group of shareholders, and additional funds, we will be in a position to begin full implementation of our business plan in preparation for a launch of our retail offering in early 2008.”
A former Sky Network TV executive, Mr Martin says: “The timing is right – latest data shows a 28.2% increase in the price of power for residential consumers over the past six years and, a further increase of up to 20% from meeting obligations in emissions trading targets under the Governments Kyoto proposal.
“With environmental and pricing issues to the fore, the conditions are ideal for our technology and approach that will enable consumers to save money and power. Thus, Pulse could also be considered a ’green’ stock,” says Mr Martin.
“We view this very much as an ‘unbundling’ of the power retail sector, much along the lines of the developments that have been taking place in the telecommunications industry. The parallels are very clear.
“This is an exciting time for Pulse and consumers, as retail competition has finally arrived. Our target in New Zealand is conservatively estimated at 61,000 customers by year five, a projected 3.5% of electricity connection points. If this level of market penetration is achieved, our business plan anticipates that Pulse would be earning revenues of approximately $93 million and a projected profit of $11 million after tax. This makes Pulse an exciting long-term prospect for investors. None of these projections include Australia.”
The Company’s profit projections are only based on its New Zealand activities but Pulse intends to expand into the Australian market, which is gearing up for replacement of up to eight million meters from December 2008. Pulse already has the exclusive rights to use its unique technology in Australia as well as New Zealand.
Mr Martin formed Pulse Utilities seven years ago to develop the advanced meter technology. With the ability to remotely read, report and act on customer power consumption every half-hour the technology was the first certified mass-market meter device developed in New Zealand, and has continued enhancements to the product since.
Don Purdon has recently been appointed as Executive Chairman. Pulse will not be raising money from the investing public prior to its float. It expects to list on the NZAX in mid-November via a compliance listing facilitated by Tasman Capital Ltd says Mr Purdon. Pulse plans a migration to the main NZSX board at a later stage.
-o0o-

Yossarian
09-11-2007, 09:10 AM
thanks for the update taz

Nevl
09-11-2007, 09:57 AM
I read the article yesterday and like the pulse story and will be watching. One question I have is about the overseas expansion. I know that too many Kiwi companies go offshore underfunded and thinking that they can break into internation markets with a $20mill and a she´ll be right i have a great product attitude. See Cadmus, Provenco,VTL, Navman and too many other Kiwi manufactures( I use Navman as an example as the sucess of Tom Tom should show what could have being done)

IMO the best way to go offshore is big and bold. Building up slowly just allows smarter competitors to see what you have and then do it better and bolder.

Anyway thats my 2 cents and I look forward to seeing you going ahead and hopefully getting some of the action myself.

Tasman Capital
13-11-2007, 05:19 PM
I understand that the Executive Chairman of Pulse will be on the TV1 business breakfast show tomorrow morning - Wednesday 14th Nov - so check it out if you are up that early.

Also, Pulse have updating their website at www.pulseutilities.com with more on the Pulse story if you are interested.

Good comments and question Nevl - watch this space for an answer soon.

minimoke
13-11-2007, 07:44 PM
Pulse has me interested if they can come up with a retail price of close to $38 MWH (current average wholesale price) and I’ll be looking at signing as a customer. But there is nothing in their business plan to date that will see me investing. Playing the electricity market, which is watt Pulse appears to be asking its consumers to do is beyond my enthusiasm to save a few bucks. I doubt there are really that many people out there who want to play at that game. With five minute prices fluctuating from $10 to $41 it would be a full time job trying to work out when the best time to buy/use power might be. If someone is in the middle of cooking dinner and prices hit $45 will they turn the oven off – no. But they will be turned off Pulse when they see their power bill come in. Do they find a visiting meter reader a bother – probably no and certainly not 3.5% of consumers. Other threads had a start value of $2.70 a share – this has now fallen to $2.00 a share. The media strategy needs to ramp up!

mibo
14-11-2007, 07:51 AM
...Playing the electricity market, which is watt Pulse appears to be asking...

Pun intended? :D

shane_m
14-11-2007, 08:04 AM
seems like they are trying to target the AMR metering market. NSW and Victoria already moving to AMR metering. No one in the market place has a full AMR system yet over here, so everyone is trying to get their product out NSW and Victoria govt. I think Vector in NZ has already chosen siemens as their supplier for AMR meters. I am not sure how many power meters are in Auckland, there is more than 4 million meters in Victoria, so who ever get the contract will do well.

minimoke
14-11-2007, 12:03 PM
Check out this link for the video. http://tvnz.co.nz/view/page/1320238/1446063

So if I have it right Pulse won’t be making any money on the sale of electricity. They can’t if they are selling at close to wholesale price with a targeted 3.5% of market share.


And Joseph has said (“Pulse will not be trying to convince consumers to spend large amounts of money to buy a smart meter which offers benefits which most consumers do not value – half hour meter reads.”) so the money won’t be made from the sale of meters so where will the profits come from.

Its got to be from the rental. So the sums suggest $11m profit from 61,000 consumers = $687 a year for the meter rental. Pulse reckon a consumer can save 30% off their bill so for a domestic consumer the meter rental will account for probably half the power bill.

So what happens if I buy a house with a Pulse meter and a Sky dish but I don’t want to use Pulse or Sky. The sky dish gets to stay on the roof with no service. My power supply and meter?

Tasman Capital
14-11-2007, 01:25 PM
minimoke – thanks for your contribution - I can see you are a skeptical person by nature which is probably a good trait for an investor but can I suggest not being too quick to write Pulse off - you wrote-off Tasman before it closed its IPO yet Tasman is doing well and has lots of work planned for next year too. Your style of analysis of Tasman is on the Tasman thread for everyone to see where you are very quick to jump to a conclusion, I see that has not changed. For a start, may I suggest that $11 million divided by 61,000 is $180 and not $687. As for the share price, that will be determined by the market when it lists – likely to be 21 Nov - but $2.70 was the mid-point of the valuation range. You are probably getting the $2 based on a market cap calculated by a journo using the rights issue price of $2 - the rights issue is only available to Pulse shareholders (which includes all Tasman shareholders).

minimoke
14-11-2007, 02:25 PM
Thanks Joseph – you are of course correct, it is a net profit per consumer of just $180, not $687. The fingers can get a bit dyslexic on the old calculator. Some analysis is probably better than no analysis and I’m more than happy to be corrected and even happier if people profit where I have feared to tread. And you are right, I am a bit of a sceptic. Seeing a company’s new web site listing over 30 vacancies, many of them key positions does little to dampen my scepticism. Incidentally the journalist said ‘Pulse's market capitalisation was now around $20 million, with about 10 million shares issued. A rights issue would be made to shareholders at a price yet to be determined.” I can’t see that Tasman or Pulse have done anything to rectify the impression left by this statement so when Jo Public is looking at things we can only use what information is out there.

shane_m
14-11-2007, 02:47 PM
A company planning to roll out a network of smart electricity meters is hoping to list on the stock exchange's alternative market, the NZAX, this month.

Executive chairman Don Purdon said Pulse Utilities NZ had sent its disclosure document to the NZX and was waiting for a listing date.

The company would not be raising money from the investing public before its listing, which would be done via a compliance listing.

Migration to the main stock exchange board was planned at a later stage, Purdon said.

Pulse's market capitalisation was now around $20 million, with about 10 million shares issued. A rights issue would be made to shareholders at a price yet to be determined.

Chief executive James Martin founded Pulse seven years ago to develop the meter technology.

With the ability to remotely read, report and act on customer power consumption every 30 minutes, the technology would give customers access to significantly cheaper electricity, as it allowed
them to make better choices on how they used power, the company said.

Martin said Pulse intended to deliver power to customers at much closer to the wholesale price than was now available.

Its business model was based on offering consumers lower cost electricity while retaining a fixed daily fee for asset rental and retail services.

In time, additional services, such as alarm monitoring and home automation would be added to the same smart device to provide additional revenue, Martin said.

"Our target in New Zealand is conservatively estimated at 61,000 customers by year five, a projected 3.5 percent of electricity connection points.

"If this level of market penetration is achieved, our business plan anticipates that Pulse would be earning revenues of approximately $93 million and a projected profit of $11 million after tax," he said.

Those projections were based on the company's New Zealand activities, but Pulse also intended to expand into the Australian market, which was gearing up for replacement of up to eight million
meters from December 2008.

Purdon said Pulse was planning to launch next April and for now had 140 customers in houses and an apartment building in Auckland to ensure its processes were robust and scalable.

In its first year, Pulse had a target of 1800 installations.

Source: AAP NewsWire

Tasman Capital
14-11-2007, 06:08 PM
minimoke - no worries - it's easy to get those numbers crossed. And as you will know it's easy for the press to get the story a little wrong too - for example - the NBR article on Friday said Pulse had 330 shareholders, clearly a case of the journo not being able to read his own notes because he would have been told there were 550 shareholders. And in the case of the rights issue price - that was "determined" some time ago - the journo probably should have said "not able to be announced yet". It is able to be announced now so hopefully that clears that up.

mibo
20-11-2007, 08:18 AM
I wonder, should I buy Christmas presents or Pulse, hmm. What the heck, both :D

http://www.nzx.com/market/market_announcements/by_company?id=156991

Pulse Utilities
20-11-2007, 05:32 PM
My name is James Martin, the CEO of Pulse Utilities. We are joining this forum because we were introduced to it by Tasman Capital and like the opportunity to be open and transparent. However please note that we cannot give out any information that is not already available to our shareholders or the market. We intend to use this forum for points of clarity only.

Thank you all for your interest in our company. We look forward to engaging in discussion and will be posting comments when appropriate.

We have now confirmed our listing date as Monday 26th November 2007. The record date for the rights issue is 30th November. The Investment Statement for the rights issue will be sent out shortly after that date. The offer price is at $2 a share.

Some initial points of clarity are:

In response to Nevl – a very good question on our entry strategy for Australia, we are currently firmly focused on NZ. We are having discussions in Australia and when we enter we will create a beachhead with an existing operator.

Minimoke, it is great to see a different point of view. Please note there are six vacancies on the website, you may have counted the bullet points as vacancies, the bullet points relate to the attributes we seek in a candidate under each job description. One of our main points of deference is that we will be bringing remote meter reading to the market. This does not require a large staffing overhead; it is our policy to outsource functions that are not core to our business operations.

We are very excited about our upcoming listing and our rights issue. We would like to acknowledge the support of Tasman Capital and our shareholders. We feel very proud to be bringing a New Zealand built and owned company to the market. There will be another press release shortly about Australia.

shane_m
20-11-2007, 07:03 PM
Pulse Utilities:
(1) Who's AMR solution are you choosing? or are you building your own hardware.
There are not many out there with a full system level solution

(2) Are you intending to use PLC type solution or Radio solution?

(3) If radio type solution are you intending to use Vodafone or similar carrier ? or are you using your own propitiatory network?

(4) My understanding is Vector has already chosen siemens as their AMR supplier? so not much business off them?

(5) Initial Set up cost be significantly higher for a AMR solution. So what is your business model for this. Currently utility's price $2 per meter for some one to go out and read the meter.

Serpie
20-11-2007, 07:52 PM
Good evening James. Welcome to ShareTrader, and kudos to you for using this forum to communicate with stakeholders.
As a shareholder in Tasman Capital I suppose I'm already a shareholder in Pulse, so I obviously wish you the best of luck.
And as a sparky-by-trade it will be nice to be able to understand the jargon for a change.

Enjoy the ride.

Financially dependant
20-11-2007, 08:10 PM
Really interested in this technology in IMO has a big future.

The timing will be interesting, the speed of transferring our economy from oil based to electrical based is critical.

Does this meter have the capability for net metering? or does the company want to go down that track? Do individuals have the chance to invest in generation (wispergen, PV's etc) using this meter?

Pulse Utilities
20-11-2007, 10:42 PM
Shane_M

The following information is avalible on Pulse, we look forward to elaborating on this in the near future. Please find answers to your questions below:

(1) Who's AMR solution are you choosing? or are you building your own hardware.
There are not many out there with a full system level solution.

"We have built our own full system solution, and may integrate with other systems."

(2) Are you intending to use PLC type solution or Radio solution?

"We intend to use both along with three other platforms these are explained in our offer documents to existing shareholders to be released shortly."

(3) If radio type solution are you intending to use Vodafone or similar carrier ? or are you using your own propitiatory network?

"We have three radio solutions, including GPRS (Vodafone). "

(4) My understanding is Vector has already chosen Siemens as their AMR supplier? so not much business off them?

"Siemens are a significant supplier of services to Vector. We are also happy to support Vector for AMR however we do not compete in the consultancy and technical areas."

(5) Initial Set up cost be significantly higher for a AMR solution. So what is your business model for this. Currently utility's price $2 per meter for some one to go out and read the meter.

"Timeliness of data is important to us as we are aligning our ability to respond to demand pricing signals. Pulse’s revenue streams are explained in the offer documents being released shortly. I am more than happy to post these once we have filed the listing documents with the NZX. "

Serpie,

Welcome onboard

Financially Dependant,

Yes consumers will be able to have their consumption reconciled with private and or embedded generation. We have the capabilty to record both energy exported to or drawn from the grid. Personally I would like to see investment in off grid generation recognised for the positive contribution this makes in so many areas.

Nevl
21-11-2007, 01:42 AM
Hi thanks for taking the time to answer our questions. It is alway nice to have directors taking a direct hand in correcting any misleading information.

Given the rapid process of change with smart metering worldwide and given you will be focusing on NZ and Aussie how will you make sure you are not left behind with the newer Technologies as minimoke has pointed out you are competing with Siemens a compnay with 100000 employees and a global presence. I am hoping you have looked at what has happened with Cadmus and Provenco and learnt from their mistakes. Personally I would like to invest and probally will in the near future. Hears hoping for another WDT.

Thanks

Pulse Utilities
21-11-2007, 10:08 PM
Hello Nevl,

Thank you for your kind response, it is good for Pulse to see how our strategy is being interpreted.

There are some very insightful comments in your posting. I will answer them as best I can.

The success of Wellington Drive Technologies WDT is a great example; here is a company without a competitive advantage in manufacturing (other countries have cheaper resources and economies of scale). This company stayed loyal to staff and the manufacturing industry in New Zealand in general. They produce a great product that supports Pulse’s values in energy efficiency and lowering the cost to industry.

In regard to your reference to Cadmus and Provenco, they seem to be in a competitive market that also requires endorsement from major banks or financial institutions. They are exposed to an industry where pilots,trials and lead times can be quite long so forecasting is as they stated “difficult”.

We are not like either of these companies as our product is going direct to the consumer. This is a technology that will aid consumers to get a better deal from an industry that doesn’t always play fair.

We will be a bit disruptive in that we do not mind replacing existing assets or upsetting a few existing industry people along the way. In regard to Siemens they are a very big ship; it would take a long time for innovation in the engine room to reach the bridge and longer still to turn that boat around to pick up any ideas that fell overboard, or place the boat on a new course. We are very happy to use our small size to our and our stakeholder’s advantage.

If you would like cheaper electricity and want to be empowered to manage the way you interact with energy and the impact it has on the environment? then we will be seeking your support as a customer.

minimoke
22-11-2007, 06:56 AM
If you would like cheaper electricity.....

Great to have you front up James. I get the big picture but the detail is always interesting. Any idea when your retail pricing models will be loaded on Consumers Powerswitch or when you can provide other retail price comparisons?

Nevl
22-11-2007, 10:41 AM
http://news.bbc.co.uk/2/hi/uk_news/magazine/7103981.stm

So any efforts to get Pulse in on this scheme? I know it is ahead of schudule but with a govt sponsered scheme are you willing to go for the big prize now or keep playing in NZ´s market? Carpe Diem?

Thanks for your great reply and I am just teasing but I believe the Bold win the day and this would be a brave move.

shane_m
22-11-2007, 11:08 AM
Pulse Utilities: thanks for your time reading my questions and the answers.

Yossarian
26-11-2007, 04:20 PM
My ASB account says I am "+25,000.00%" on this today... if only every investment was that successful!!

(NB I actually make it +infinity%!)

cheers

soltrader
26-11-2007, 07:17 PM
Haha, I see what you mean now.
I didn't know one could add NZAX to the portfolio?

Pulse Utilities
27-11-2007, 11:10 PM
Minimoke

What a great question, it is going to be very hard for us to use the Consumer Institutes "Power Switch" site. The main reason is we are buying and selling wholesale so indexed to spot market pricing, this pricing model is variable and could change every half hour. For fixed price variable volume we may set pricing at the time of contract, so again could change at any time.

We will have an offering that we can not disclose yet, this will be fixed price with a wholesale rebate, however due to the wholesale nature of our supply, it will be difficult for us to illustrate in Power Switch. Expect to see our pricing announcements mid December.

Nevl

At present we are 100% focused on the NZ market, all resource is going into this patch first so that everyone at Pulse knows what the game plan is. Once this market has been launched and we have met rollout targets our next market is Australia. Our Business Plan and current valuation is based on the NZ market opportunity only. We want to prove the New Zealand model first then add value.

Heke
28-11-2007, 11:31 AM
Good to see our first transaction on the market this morning. Only a small parcel of 1000 at $2.40, but hey, we have made that first step.

Yossarian
28-11-2007, 11:37 AM
i think there were trades on monday at $2. cheers

bear
28-11-2007, 11:59 AM
Looks like there are a few individuals out there wanting to qualify for the rights issue.

Look forward to reading the prospectus and especially details on the pricing models which for me will decide whether to further invest or not.

May even become a customer myself

Bear

kura
28-11-2007, 05:47 PM
From the days trading, you can't say that there is a great demand out there ! (Didn't see anything trade yesterday)

From the size of the trades, it didn't look like any of us "Tasman Holders" were trying to make a quick dollar, and offload their 125 shares.

Given the lack of demand, it makes me wonder if blindly taking up ones rights will be such a good idea ?

Myself, I look forward to reading the "details" prior to making up my mind.

whatsup
29-11-2007, 10:16 AM
Where is pulse listed and what is its call sign?

mibo
29-11-2007, 10:33 AM
Where is pulse listed and what is its call sign?

On NZAX with the symbol PLU

winner69
29-11-2007, 11:07 AM
Somebody hocked off 200 shares at 170 today .... on the scorecard PLU is down 29.2% today

COLIN
29-11-2007, 01:58 PM
Somebody hocked off 200 shares at 170 today .... on the scorecard PLU is down 29.2% today
Presumably this is just one of the Tasman Capital holders, who got PLU shares granted to them and he/she will be turning their gift into cash - to buy Christmas presents, perhaps!
The PLU directors won't want to see too many of these TASMAN holders bailing out, at less than $2, as this could undermine the success of the PLU new issue - and also reduce the number of PLU holders below NZAX listing level requirements.

Pulse Utilities
02-12-2007, 07:05 PM
Hello Colin and Winner69.

The little trades of 125 and 200 shares were Tasman shareholders. While it is their right to trade at anytime, these were prior to receiving anything formal from Pulse. The record date was 5 pm on Friday. The Rights Issue information will now go out to any shareholder on the share registry as at 5 pm.

They have now lost the entitlement to the Rights Issue and to benefit from any upside in their "free shares", they have also lost the opportunity to the short fall.

Link have been making a list and they will be checking it twice, we'll soon see who's been naughty and who's been nice.

minimoke
03-12-2007, 04:16 PM
....The main reason is we are buying and selling wholesale so indexed to spot market pricing, this pricing model is variable and could change every half hour. For fixed price variable volume we may set pricing at the time of contract, so again could change at any time.

....

And here’s where I think the challenge is. I’ve just got back from fishing and reckon Pukaki is lower than last year with less snow on the mountains as well. There was no rain and didymo is now in all the rivers so can’t be far from the canals. I reckon prices have to be up on this time last year so as a Pulse consumer I presume I should be holding back on that new line and putting it into the household budget for the increased power bill. As a Pulse Holder would I need to be wondering about margin squeeze or how far consumers can bear an increase and should I be hoping for rain!

Pulse Utilities
05-12-2007, 06:22 PM
Cost Drivers and Price Indicators

Hello minimoke here is an insight to what may contribute to wholesale price drivers.

Observing nature is a good indicator also but there are many factors that make up an electricity wholesale price.

Some of the financial tools to mitigate risks are;
Hedges, bilateral generation agreements (wind and hydro for example), contracts for differences, fixed price fixed volume contracts, variable volume load following swaps and nodal pricing at the grid exit point, the spot price.

www.energyhedge.co.nz (http://www.energyhedge.co.nz/)

Here really bright guys (and girls) try to work out what you just observed on your fishing trip, climate change, water levels, capacity constraints, planned outages and new generation. Couple this with forecasting load forward at each node nationwide. This web-site will give you a good understanding of a real price indicator over the next three years. ANZ is now in the hedge market so there is an independent player for large electricity users and Pulse to work with.

If the question was “are consumers going to get a price hike if it doesn't rain”. If you applied this in context to their existing retailers, they probably would. This is good news for Pulse. The wider the gap in pricing the easier it will be to get customers to switch.

Another factor which supports Pulse's entry at this time is the Government's strategy to drive investment in renewable energy. Some of the noise on this is detailed below for you.

Investment in Wind generation has created more than 151 mw of new capacity this year, which has doubled the total capacity to 321mw.

Top Energy is increasing capacity at the Ngawha Geothermal plant
Crest Energy is seeking consent for 200mw at Kaipra Harbour
Genesis has applied for consent for 360 mw at Kaipra ands 18 mw wind plant at Awhitu.
Contact Energy has announced between 1 and 1.5 billion in new wind generation projects. Contact is awaiting consent for 247 mw generation at Te Mihi and is in planning for 200 mw at Tauhara and 60 mw at Wairakei

There are a dozen wind power projects totalling nearly 2700 mw at full capacity from Hawkes Bay, Unison, Allco Wind, NZ Windfarms, Meridian, Trust Power and Mainpower.

Maori interests are developing geothermal at Mokai and Kawarau

So what does this mean.

Both wind and Geothermal generation must be dispatched to the grid they can not store water or turn down the gas if the spot market is low. This type of immediately dispatched energy usually drives down the spot price (use it or loose it). This is good news for Pulse and for new (especially independent) generators.

Pulse can now link these generators up to a wholesale price or directly with a consumer, new generation gets a higher price which is good for them, good for investment and good for the consumer.

The more generation that comes on the more we can store in the lakes.

Minimoke you asked if a consumer will be exposed to a price spike on the spot market in their next bill. They will not be, as discussed earlier we will announce our pricing plans once we are geared up for launch.

Minimoke, have you read the Investment Statement?

shane_m
05-12-2007, 07:00 PM
Interesting times Metrix rolling out command center.

minimoke
05-12-2007, 08:40 PM
Minimoke, have you read the Investment Statement?

Hi, thanks for the detail. No I haven't seen the investment statement yet, last time I looked it wasn't on your website.

Pulse Utilities
05-12-2007, 10:58 PM
Hello Minimoke,

I am not sure if we are posting much more on the web-site. The plan is to launch the consumer site under the banner Energy New Zealand and just get on with the job. I am happy to post one out to you, or you can pick one up from our offices.

We are not able to offer you any way to invest, the rights issue is for existing shareholders only. However the Investment Statement will give you a better feel for what we are trying to offer consumers.

Please contact the office number,send an email to [email]info@pulseutilities.com [email] or via sharetrader

shane_m

Can you elaborate I missed this with metrix, they are working on an elster metering project but I did not see anything on a command centre. Thought that they would be pretty busy with the billion dollar investment they just announced for a 400 mw geothermal plant at Kawerau. What a great project I just did the math and I think it comes out at $250 kwh. That is pretty good and what a great use of a natural resource.

kura
06-12-2007, 06:10 PM
Got my investment statement (etc) in the mail today, I see on the timetable of dates that they were mailed out last Saturday (my mailing address is Auckland, so not exactly a remote location where you expect delays in the mail)

From a cursory glance, I have to confess to still being unsure of their bizz model, and my personal philosophy is to avoid things I don't understand.
But the lack of financial projections, assumptions etc, tell me (in a louder voice) not to take up my entitlements, I don't think I will sell my 125 shares, (and, yes I will probably forgo a decent bottle of "medicine" by not selling out) but I will continue to follow their progress with interest.

Best of luck !

soltrader
07-12-2007, 07:35 PM
Er, there seems to be a problem here, or am I getting this wrong?

bohdan
07-12-2007, 09:27 PM
Er, there seems to be a problem here, or am I getting this wrong?

No problem, bids @ 80, offers @ 200 = no shares changing hands on that differential.
If there were bids @ 200 and offers @ 80 then THAT would be a problem....

bohdan
07-12-2007, 09:32 PM
Having said that the company is probably not thrilled at having shares trading below the price of the rights issue (and I bought a parcel at 1.70 today).

Grimy
08-12-2007, 01:06 PM
From a cursory glance, I have to confess to still being unsure of their bizz model, and my personal philosophy is to avoid things I don't understand.
But the lack of financial projections, assumptions etc, tell me (in a louder voice) not to take up my entitlements, I don't think I will sell my 125 shares, (and, yes I will probably forgo a decent bottle of "medicine" by not selling out) but I will continue to follow their progress with interest.

Best of luck !

Same here I'm afraid. Reading the IS didn't give me any real reason/advantage that I could see to want to be a customer, and if I don't want to be a customer, do I want to be an investor?
That's certainly not saying they can't do well, and I hope they do. But I can't see myself getting a unit stuck in my meter box just yet.

bohdan
08-12-2007, 02:58 PM
I think from the consumers point of view, there are only 2 questions:

Question 1) " Can I reduce my power bills by using this service"
Question 2) " What is the cost of the service relative to the potential savings"

If 1) is yes and 2) is favourable relative to expected savings from 1) then it'll be a winner in terms of getting consumer buy-in.

So, Pulse Utilities directors, please tell me what some typical answers are to those two questions.

On reasonable answers of those 2 questions alone, I'd sign up for the service. Actually, I'll volunteer to trial the system in Dunedin for you, reducing my power bill means more money in my (wifes) pocket.

Thanks
Kevin.

Grimy
08-12-2007, 03:08 PM
I think from the consumers point of view, there are only 2 questions:

Question 1) " Can I reduce my power bills by using this service"
Question 2) " What is the cost of the service relative to the potential savings"

If 1) is yes and 2) is favourable relative to expected savings from 1) then it'll be a winner in terms of getting consumer buy-in.

So, Pulse Utilities directors, please tell me what some typical answers are to those two questions.

.

Exactly. Those questions need to be answered. Without good examples of savings, what's the point? And to be honest, in my situation where we use the sun to dry our clothes, only do the laundry when the machine has a full load (no that's not why my user name is Grimy!), turn off things we are not using ( and not have too many things to start with), wear a sweat shirt if the evenings are cold before worrying about switching on a heater, opening windows if its hot, I can't see many places to make great savings. What we use we need, and I don't need a meter (probably outside somewhere) to make me use common sense.
I guess there are plenty of people that do though.........

Pulse Utilities
09-12-2007, 01:09 PM
Kura

In a nut shell our business strategy is:

1. We will offer cheaper power (up to 30% cheaper) to consumers in order to get them to sign with us.
2. We will then attach our meter.
3. We collect our revenue at around $1 a day from the rental of this meter. The overall bill for the consumer will be from 10-30% less – so, by signing with Pulse they will pay less.

By offering cheaper electricity we aim to attract 61,500 customers by year 5. That’s 3.5% of the market in New Zealand.

In summary, our pitch for consumers is cheaper power. How we make our money is through the rental of our meter at around $1 a day. Once we have the smart meter asset in the premise, like the sky box, we then up-sell additional services (e.g. Alarm monitoring). Pulse’s profit will primarily come from the rental of our smart meter attached to the consumer’s wall.

There are other benefits of having a smart meter rather than a “dumb” meter. A consumer could use the information provided by Pulse to change their usage pattern, and save even more.

However these smart meter benefits are not part of our pitch for customers. The message is simple – cheaper power.


The answer to the two specific questions asked by bohdan are as follows:

Question 1) " Can I reduce my power bills by using this service"

Yes - consumers can reduce their energy bills by up to 30% with Pulse.

Question 2) " What is the cost of the service relative to the potential savings"

The cost to the consumer is zero. There is no connection or installation fee or upfront payment for the meter. We will simply collect a meter rental change similar to what they pay today (around $1 a day). And the overall electricity bill will be 10 – 30% less.

Pulse will be requesting nothing more than a copy of an existing bill, and will then come back with a price plan. Once we have a customer and gain their usage profile we will offer further ways to reduce their energy consumption, and save money, and help the environment.

When we can meet our 61,500 customer target, Pulse will be a significant force in the electricity sector and will be very profitable. Given the value proposition that Pulse offers, we believe our target is conservative and that there is plenty of upside to this target. This is particularly so given that our target is for New Zealand only and does not include the Australian market. Pulse owns the licence for its smart meter technology in Australia as well as New Zealand. Our strategy to enter Australia is different to that of New Zealand in that we will look to partner with an established electricity retailer to get our smart meter on the consumer’s wall. The number of customers in Australia is significant. Victoria has already mandated that they will be moving to smart meters by 2008. We are part of the think tank setting the specifications for these meters. The current draft specifications are all met by Pulse smart meter.

On another matter, the demand for the stock will come once the general marketing starts and the brokers understand what we are doing. This will come out in the road show. It will also be strengthened once we meet our numbers.

Link Services posted the Investment Statement out from Ashburton so it would take a few days to get to you in Auckland.

Please try to make it to the roadshow this coming week so that we can explain things a little more. The times and venues are below or in the Chairman’s letter in the Investment Statement.

Christchurch 5.30 pm
10 December 2007 Boardroom
Level 2
George Hotel
50 Park Terrace
Christchurch
Wellington 3.00 pm and
5:00 pm
11 December 2007.

Boardroom
Institute of Directors
Level 2
88 The Terrace
Wellington
Auckland 3.30 pm and
5:30 pm
12 December 2007 Parnell Room
Jubilee Building
545 Parnell Road
Auckland
Hamilton 5.15 pm
13 December 2007 Conference Room
The Hamilton Club
21 Grantham Street
Hamilton


Also sorry for the late response I am currently in Australia.

Grimy
09-12-2007, 06:13 PM
If power will be up to 30% less then yell it out. From the IS it sounded like cheaper power would only be a carrot to get consumers to buy the meters-which I understand. But I don't care about a smart meter over a dumb meter-I want cheaper power bills!! If that is what I will get, then I'm in.
I just need it proven that the overall cost of power and meter will save me money. Surely that is all anyone wants?
On another point. I would love to attend a roadshow meeting. But I work, it's the silly season (it always is) and my options in Auckland are 3.30 and 5.30? To get to Paenell I'd have to leave work at 4/4.30 and that's just not an option.
I know it's your time too, but whenever companies come through town saying "would love to meet investors, etc, etc", why aren't at least some of the meetings scheduled for working folk - perhaps 7.30/8.00? Time to finish work, get some dinner and attend the meeting?

bohdan
09-12-2007, 08:05 PM
When we can meet our 61,500 customer target, Pulse will be a significant force in the electricity sector and will be very profitable. Given the value proposition that Pulse offers, we believe our target is conservative and that there is plenty of upside to this target.

Yes, I'd say that is conservative. Your figures show cumulative target installations in NZ of

Yr 1: 1,800
Yr 2: 8,550
Yr 3: 23,350
Yr 4: 42,350
Yr 5: 61,500

If savings of between 10 and 30% can be achieved with zero cost to the consumer I can't imagine it being a problem to acquire 1800 installations in the first year - indeed I'd of thought 1800 in the first week was more like it.... :)

As long as the message to the consumer is simple:

No cost to change,
Get cheaper power,
No catch,
Ring 0800 PULSE.

It's as if someone were to start offering a new petrol pump at the service station where the petrol was (for example) only $1.30 a litre - there would have to be a compelling reason NOT to use it.

Petrol, Power, Food, Alcohol, Mortgages if consumers can get any of those cheaper than current prices, for no outlay, you're onto a winner, in my opinion.

Also, its a pity that the directors didn't get down to Dunedin on the roadshow - not enough shareholders down here? I'd certainly have made some time to come and say hello.

Toddy
09-12-2007, 09:15 PM
I have just read this thread and these are my thoughts. I wish Pulse luck but its not as easy as it all sounds.

a. Who pays when the spot price spikes. We all know what happened in Australia this year with the droughts. If they say that they can offer a fixed price then what is the point.

b. Most retailers have long term fixed contracts and other derivatives in place to protect themselves and their consumers from spikes. Those in Australia that got this wrong this year all went out of business.

c. Smart meters. Take a look at the hourly electricity spot prices. Unless you are eating your dinner at 3am then the 30% savings would be difficult to achieve.

d. Re the comments from Pulse Utilities about all of this new generation coming on stream and that spot prices will 'reduce'. I wish it worked like this. Unfortunately electricity pricing has a floor that is tied to the cost of capital. The cost of capital and asset valuations are very much tied to what the international market is doing. For example, the govt wants NZ to produce more renewables (especially windpower). The capital cost of building these windfarms is related to the cost of the resources (steel, technology etc), exchange rates, oil, etc. We cannot have the generators going out of business. The fact is that electricity prices will go 'up' in NZ due to the desire to produce from renewables.

e. The current electricity retailers can afford to reduce their margins to compete against a start up company.

f. Retailers in the U.K offer fixed term contracts of up to five years for gas and electricity to individual customers. Its only a matter of time before these products are offered to NZ and Australian customers.

g. The ANZ now has an electricity market. I hope that they have hired the best in the business as electricity trading is like currency trading. The major driver of volitility in the NZ market is the weather vs the capacity to generate electricity to meet demand.

h. So, that leaves the meters. The main cashflow for Pulse will be from the meter rental, or the dollar a day. Like eftpos machines, competitors (much bigger players) can come in and play the same game and offer better economys of scale.


I'll have a better look later in the week.

Pulse Utilities
10-12-2007, 09:41 AM
Hello Grimy and Others

Pulse have added an additional meeting at 7pm on Wednesday at the Jubilee Bldg, Parnell to accommodate you and any others. Sorry about the times. We had assumed that if we did it later than 5:30pm no one would come! So we look forward to seeing you there.

Pulse Utilities
10-12-2007, 11:09 AM
I note that you are in the UK, thank you for taking the time to respond to our threads, please note that we cannot offer any investment to you if you are not an existing shareholder nor can we promote outside New Zealand. Also I need to be a little careful in what I say for competitive reasons.

In response to your comments,

a) The pricing plans will out in the New Year, there will be a range of options with the risks explained with each plan. Note we are also a broker so all plans will be made available including plans with existing retailers. We anticipate that all of Pulse's offers will be cheaper (up to 30%) than they currently pay. Whatever the saving to the consumer, once they sign up our revenue is from the meter rental
b) Yes they did, so did two retailers here, we are very aware of what the market can do, and have a full range of risk mitigating measures in place and will have the very best people to manage any risks
c) Consumers and Pulse achieve multiple advantages from timely data. However the main advantage we get customers is cheaper power by buying well and from not placing a huge margin on the electricity.
d) yes prices will go up but the divide will remain without competition from the likes of companies like Pulse. See c)
e) Our market penetration strategy at this stage is confidential. However it is safe to predict that a Retailer cannot afford to drop prices across the country. If they do drop prices then this would be good for everyone, including Pulse and the new Generators - once we have a customer we will offer them cheaper deal from anyone else, and still get our meter rental.
f) Yes we can only go out to 3 years at the moment with a full hedge, and we will also be looking to have contracts with generators for longer term hedges e.g. 15 years
g) Yes and ANZ now take some of that risk and it is included in the price of the hedge.
h) The economies of scale I assume you mean are cost of technology - we are unsure of the specific costs of others smart meters but from initial research our NZ developed metering technology may have a cost advantage - and outsourced low cost manufacturing is readily available to all companies, and because of this, even for large companies, is now rarely a sustainable competitive advantage.

Toddy
10-12-2007, 12:45 PM
Pulse

I am actually now living in NZ. I'm all for 'cheaper' delivery of electricity to my front door.

I'm just a little confused about the business model. You say that the Pulse income will come from the meter rental. Does this mean that other companies actually offer the simplistic derivative products to customers that sign up to your technology. Who would the customer actually be signing up with.

If so, why does it all sound so complex.

The obvious concern to any potential investor is that the lakes are drying up down South so the entry price of any products offered to customers under the current environment will not be cheap.

Pulse Utilities
10-12-2007, 10:32 PM
Hello Toddy,

Nice to have you home.

The business model may appear complex because we are not going to announce how we get our numbers until we are ready to launch.

The risk matrix is full spectrum from a retail offer from one of the existing players (no risk) all the way up to being on the spot market( which is less risk with Pulse).

We are neutral on the meter so long as it has a Pulse Output.

We are neutral on the price plan a consumer chooses, that will be up to the consumer.

There will be a lock in period so that we can get a return on our assets.

The first offering will be at $1 per day so will appeal to the SME market and any consumers that are paying more than $1 now.

Simple 80 / 20 rule we are going after the unloved SME's first then we may offer other services that are more mass market later on.

We have done our research and feel very comfortable with our projected targets. 61,000 in year 5

Pulse will not take on market risk, this is not our model, nor do we need to make a margin on power. So what we offer is a neutral friend of the consumer that can go out and get the best deal for power.

We buy at the GXP (grid exit point) so everyone gets the the same deal.

To answer your two questions.

Q: Who will the consumer sign up with
A: They sign up with Pulse we then align this customer to an offer

Q: The lakes are drying up so any entry price would be high
A: Low hydro levels effect current hydro generators and that can effect the spot price. This then gets reflected in the hedge market.However most generation from small players is contracted to the big guys at less than the wholesale or hedge rate.What we offer is the ability for these generators to get access directly with a wholesale market.

As discussed earlier www.energyhedge.co.nz is a good indicator of the forward price curve not the lake.

The issue is that some companies and most consumers don't get close to these prices.

Our model is to be totally transparent and empower the consumer with all the information they require to make an informed decision on the way they buy electricity.

kura
10-12-2007, 11:13 PM
Pulse

I am actually now living in NZ. I'm all for 'cheaper' delivery of electricity to my front door.

I'm just a little confused about the business model. You say that the Pulse income will come from the meter rental. Does this mean that other companies actually offer the simplistic derivative products to customers that sign up to your technology. Who would the customer actually be signing up with.

If so, why does it all sound so complex.

The obvious concern to any potential investor is that the lakes are drying up down South so the entry price of any products offered to customers under the current environment will not be cheap.

Firstly Toddy, welcome back ! (Had appreciated your comments re IFT)

Regards my old meter (is inside the house, and readers have a key) (Had this woman staying with me for a few weeks, she had a rotwieler, "Rommel" sure made the meter readers last visit interesting, (unlike the real "Rommel, this one didn't take prisoners) it is pretty ancient, and would be presumably fully written off by whoever owns it, no doubt they still build some sort of fee into my power bill for using the meter, and I assume it will be similar the way Telecom used to charge me for "phone rental" for an old dial type phone (until I figured that I should just go and buy a new push button phone at the warehouse)

OK, I can undertsand how my existing power retailer (Mercury) is just "creaming it" by building a fee for meter usage into their bill, what Pulse is proposing to do, is replacing my "old clunker of a meter" with something new and super duper, that will add all sorts of functionality. (This added functionality, may be usefull to me, but then again, maybe not) In reality my old meter (assume its worthless, like my old dial type telephone) is going to be replaced with a new one that costs real money.

If this new meter eliminates the need for a meter reader to come round 3...4 times a year, then yes, I can see a source of competitive advantage, though I can't see how this alone would be sufficient to generate 30% savings in my power bill.

So what we seem to be talking about is becoming a power retailer, by reducing our retail margin ? I just can't see how this can be a formula for success ?

PS: Sorry to Mr Pulse, for seeming so negative, I know, I'm an unashamed sceptic.

PPS: Just noticed that Mr Pulse replied to Toddy, while I was writing my reply

shane_m
10-12-2007, 11:17 PM
Hello Minimoke,
shane_m

Can you elaborate I missed this with metrix, they are working on an elster metering project but I did not see anything on a command centre. Thought that they would be pretty busy with the billion dollar investment they just announced for a 400 mw geothermal plant at Kawerau. What a great project I just did the math and I think it comes out at $250 kwh. That is pretty good and what a great use of a natural resource.


metrix is using command center as the back office. They have just started rolling few meters in to command center. What is the pulse back office?

Grimy
11-12-2007, 06:46 PM
Hi there. I've just logged on to find another meeting time for tomorrow night at 7pm. I have to say I like your flexibility towards shareholders. If that's a reflection of your total business plan, great.
I have to apologise and say that with the short lead time I won't be able to attend, so I hope you get some others along.
I will be very interested if people who attend post their comments after the meetings.
I hope the meetings are fruitful for all concerned.

Pulse Utilities
13-12-2007, 01:38 PM
Hello Kura,

We think we will get a great response from the "Villa Belt" where Mercury has tens of 000's keys for meters inside homes.

Your correct there is no business model in replacing a meter reader. The value all comes from the data and the way we collect it and use it for your benifit.

Its not to complex really, we request a copy of your bill, this could be someone at your door, via mail or other means, we then come back with a new offer.

Pulse Utilities
13-12-2007, 01:58 PM
Hello Shane_m

Great question,

Back office is Linux and proprietary code using mainly open source programs we call this Pulse IMS (information Management System), with Talgentra on SQL, we are thinking of migrating to Oricle at some point but not right now.

Talgetra is the market leader so is intergrated with 85% of lines companies including vector.

We have gone straight to the new wizz bang model branded Velocity

Mighty River or Mercury is running SAP, I think it is great once you have all your systems integrated. The issue sometimes is getting little things to work like pilots or trials.

The guys at Metrix are pretty smart so I'm sure it is a great program, I'm really not sure what command centre is (is it a brand name for software) but it sounds like it manages their complex meter data and logs events.

kiwi_on_OE
16-12-2007, 01:05 AM
Time for some devil's advocacy. Am I right in thinking this dollar-a-day meter rental thing sounds too good to be true? If I could attract a few electricity customers of my own I could install a new meter of my own (smart or dumb), leave with them with their existing supplier of electricity and lines to avoid any risk to me, and take the dollar-a-day to pay for the meter? If I wanted to be really cheeky I could actually leave the existing meter in place, and even more of the dollar-a-day would stay in my back pocket?

FYI - Over here meter readings often only done once/year, and in my case not even that. I supply the reading online quarterly and that's it.

Toddy
16-12-2007, 08:36 AM
Time for some devil's advocacy. Am I right in thinking this dollar-a-day meter rental thing sounds too good to be true? If I could attract a few electricity customers of my own I could install a new meter of my own (smart or dumb), leave with them with their existing supplier of electricity and lines to avoid any risk to me, and take the dollar-a-day to pay for the meter? If I wanted to be really cheeky I could actually leave the existing meter in place, and even more of the dollar-a-day would stay in my back pocket?

FYI - Over here meter readings often only done once/year, and in my case not even that. I supply the reading online quarterly and that's it.

I'm no expert on the matter but for me that is where the long term business model falls down. The bigger retailers can source smart meters from say China in bulk and then offer 'free' meters if you sign up with us. Any retailer or generator can play the 'derivatives' game and offer smarter products to the consumer. This will happen in response to any products Pulse Offers.

bohdan
16-12-2007, 10:20 AM
The bigger retailers can source smart meters from say China in bulk and then offer 'free' meters if you sign up with us.

You are offering that up as a fact. Is it so? Otherwise you are making an unfair argument, and basing your statements on things you presume to be true. Presumptions are dangerous things as I've no doubt you know.

It appears that Pulse have gone to some trouble to develop a smart meter for the NZ market, and they also seem to be in at ground level for developing specs for the Aussie Victorian market. If they have developed a wheel when they could've gone to e.g. a Chinese supplier and simply bought one, then that would be pretty dumb, no question. IS that the case though?

On another topic, I watched the interviews with Donald Purdon (linked from the pulse website). I'm sorry but IMHO he is not able to articulate the companies position well enough in a face to face interview to be useful. It was a touch painful watching the interviewers trying to drag information out of him about what it was all about.

I look forward to a response from PulseUtilities regarding this.

Cheers
Kevin.

Pulse Utilities
23-12-2007, 11:26 PM
Hello Toddy and Kiwi on OE,

We can call it a meter charge, management fee or service fee, it does not really matter it is still a dollar a day. We can give the meters away free to but we still want a dollar for providing our other services:).

Toddy you previously stated that you were all for cheaper electricity, how much are you paying today? (see my link below, it would be good to illustrate how the model works for you, I just need a copy of your bill)

The dollar includes all systems and processes that allow us to deliver and manage your electricity needs in near real time.

For example it includes, billing, reconciliation and settlement with the market operator, the lines company and the generator. It's not really about the meter at all, its about the data.

Please send me your electricity bills and we will show you how it works. You can then make an informed response.

info@pulseutilities.com or Fax to 09 378-4405 attn: James Martin

Hello Bohdon,

Yes Don was moved up a slot on the morning program and it took him by surprise and a little while to settle in. Also we are not disclosing our marketing until we launch. I trust you will like it, it is very simple and direct. Please send in your bill and this may help you understand also.

We are constrained by the fact that we are facilitating a rights issue and not doing an IPO, so we are not allowed to say anything that could be seen as making an offer or invitation to invest to any member of the public. It means that we are not allowed to promote an offer or promote the company. We can promote our services and this will be in the public domain shortly.

bohdan
24-12-2007, 08:39 AM
Excellent, I'll send you a copy of my latest bill shortly. Look forward to the results.
Kevin.

kura
24-12-2007, 08:26 PM
Can others (uninvited) also send Mr Pulse a copy of our power bill ?

I know, that I have openly questioned the bizz model of Pulse, and I'm still sceptical, however I have decided to take up my entitlement for some (500) of my rights issue shares, (at a cost of $1,000 ) Why am I going to do this when I am still sceptical ?
The answer is simple, I admire the way Mr Pulse has been up front in answering questions & communicating etc, and I simply think the effort should be rewarded somehow.

After reading the investment statement, I confess to being still in the dark about expected EPS figures, as while it is all very well to relate income to the number of installations, it was quite clearly explained in the investment statement, that future equity may be needed to be raised to fund the increased installations. ( But no sensitivity analysis, as to how increased equity would dilute earnings, sort of thing)

Anyhow, it's the last sleep before Santa arrives

So best wishes all !

Pulse Utilities
25-12-2007, 02:28 PM
Hello Kura,

We would welcome and respond to anyone that takes the time to send in a copy of their power bill.


We trust everyone is enjoying friends and family this Christmas.

Be kind to everyone and drive safe

We are back on-board 31st December so will respond to any emails or faxes then.

Merry Christmas

Steve
31-12-2007, 12:35 PM
I decided not to take up my entitlement, but will consider increasing my holding when there are more tangible signs on progress...

Mark1
01-01-2008, 02:06 PM
I decided I would take up my entitlement and mailed the cheque on Dec 14. It has not been presented yet. Any others in the same boat? I will phone Link on Thursday

M1

zyreon
02-01-2008, 10:02 AM
me too. I'm guessing most of their staff are still on holiday etc.

....?

kura
08-01-2008, 04:42 PM
They just announced the take up of share issue (not particularly great)
Will be interesting to see the terms of issue to institutions etc

777
09-01-2008, 10:16 PM
For the record.

Pulse falls short in rights issue

Wednesday, 09 January 2008

A rights offers by smart metering company Pulse Utilities has fallen short of its $3.6 million target, and it will now offer the shortfall to major investors.
The AX-listed firm raised just over $1.1m in new capital – $607,200 in cash and $523,992 in convertible notes.
The rights offer gave shareholders the chance to buy up to 2500 new shares at $2 each.
Pulse said it intended to place the remaining 1.4 million shares with various institutional and, possibly, cornerstone investors.
The company's board said it was pleased with the level of interest shown by the institutions, especially by those managing diversified funds.
Despite the shortfall, Pulse said it was pleased with the support, given the time of year and market conditions.
It said many of its shareholders were new and relatively small, and the offer was a chance to increase their holdings ahead of institutions.
Pulse would now start operations as an electricity retailer. It plans to offer up to 30 per cent lower electricity prices in order to woo customers.
The company will then attach a smart electricity meter and charge a fixed daily fee. The meter allows private generators to sell their electricity back to the grid or directly to consumers.
Pulse has a first year target of 1800 commercial customers, and 60,000 New Zealand customers by the end of year five. It also plans to eventually roll out its smart metering technology in Australia.
Shares in Pulse Utilities were trading 5c down at $1.70 in mid-afternoon trading.
- NZPA

Pulse Utilities
23-01-2008, 09:38 AM
We have had a good start to the year, there seems to be a bit of negativity around the rights issue, please be assured we did not expect to pick up $3.6 millon from the issue, this figure is the allocation we had to make to meet the requirements of the NZX. Discussions are progressing well with institutions so watch this space. Feed back from lines companies has been excellent in regard to establishing non regulated income streams and private generation.

Shane_M

We have meet with the proprietors of the Comand Centre, this was a good discovery meeting and we found some mutual ground in regard to the Bill-co part of our business.

Bohdan

Thank you for the copy of your bill, your current retailer appears to be billing you incorrectly, I note your next bill was due on 22 Jan, if you could forward this to us it would be appriciated.

We note from the web site of your local lines company that retailer costs have increased significanly over the past few years

http://www.electricity.co.nz/resprices.htm

We will respond to you directly in regard to your lastest bill

Radar
23-01-2008, 01:49 PM
If your using Velocity, and an of-the-shelf adaptive routing technology, what new technology are you bringing (have bought) to the market?

I visited your site and noticed home automation and security. Can you explain the synergy? They seem rather mismatched components for an rf topology.

Is your business model based on signing households to a collective, and then negotiating favorable wholesale rates that are passed on to consumers, and the technology is simply a means of creating a bargaining hub?

I'm not sure about everyone else, but if we could be bothered, our analog reader provides real-time consumption information, and by using a calculator we could extrapolate power usage hour by hour. But, that's not going to change how much power we use, so how will delivery of that information save households money? Turning power off during periods of inactivity would simply not be viable for any household, so I'm interested to know if and how the technology saves money.

bohdan
23-01-2008, 05:05 PM
Bohdan

Thank you for the copy of your bill, your current retailer appears to be billing you incorrectly, I note your next bill was due on 22 Jan, if you could forward this to us it would be appriciated.


Well, now you've got me interested. The bill I sent you was actually my November bill, I have the December one already so I'll send that too you tonight, we don't have the one due around 22 Jan just yet.

I checked my bill against the advertised rates for MeridianEnergy and they all match up to the advertised prices correctly, so I guess that only leaves 2 other charges you could be referring to?

Snow Leopard
27-01-2008, 06:37 PM
I'm not sure about everyone else, but if we could be bothered, our analog reader provides real-time consumption information, and by using a calculator we could extrapolate power usage hour by hour. But, that's not going to change how much power we use, so how will delivery of that information save households money? Turning power off during periods of inactivity would simply not be viable for any household, so I'm interested to know if and how the technology saves money.

Have a look here, Comit public main page (http://www.comitfree.co.nz/fta/ftaPage.main), and more particularly here, Half hour pricing (http://www.comitfree.co.nz/fta/ftaPage.pricesMain).
Australian Viewers( except NT and WA) should look here, public main page (http://www.nemmco.com.au/data/market_data.htm), and more particularly here, lots of info on pricing (http://www.nemmco.com.au/data/market_data.htm)
Also have a look at your last electricity bill.

Now your electricity supplier buys at least some of the electricity that they on-sell to you on the spot market where the price varies by the half-hour.
Given that your meter gets read once a month at best then the price you are charged is based on an average electricity price per MWh/kWh over that period.
So at 6am your electric company is making a good profit off your fridge doing a bit of cooling and at 3pm on a hot day is losing big-time on your air-con doing a lot of cooling, but on average they either make a profit or go bust.
To you it is unimportant when you use those Watts as it costs the same, so you have no reason to care when you put the kettle on.

Now, if your supplier knew on an half hour basis when you used electricity they could bill you at a price based on the spot rate(plus the cost of distribution to your home etc) and if you knew you would be charged less if you fired the dishwasher or washing machine up at certain times of the day, then you could, with a little effort reduce your bill.

That as I understand it is the main thrust behind how pulse expects to benefit their customers, there are bringing the half-hour spot market to the lower consumption end of the market.

regards
Paper Tiger

Disc: No PLU:NZX, plenty of IFT:NZX

minimoke
28-01-2008, 08:57 AM
.... and at 3pm on a hot day is losing big-time on your air-con doing a lot of cooling, but on average they either make a profit or go bust.

Disc: No PLU:NZX, plenty of IFT:NZX

And perhaps why you run out of hot water as your electricity company has turned of your hot water power supply.

In today’s paper spot prices in Auckland on Friday reached over $540 a megawatt hour (MWh), or 54c a kilowatt hour (kWh). Those in the South Island stayed around $70 a MWh, or 7c a kWh. I’ve already done my fisherman’s forecast of prices in an earlier thread which looks like coming true. I’m still not sure I’ve got my head around Pulses pricing models but to be fair I’ve been out of touch on this one for a while.

whirly
28-01-2008, 05:12 PM
Excellent links thanks Paper Tiger.

After reading these sites and doing some basic sums and thinking on how our household consumes power I agree there are savings for consumers to be made. What I'm not sure of is does Pulse have an agreement from suppliers to charge at spot price rather than a bulk wholesale price and if so how secure is the contract and for how long?

Or can anyone get power at spot price already??

Its probably been explained somewhere already but if it has I missed that bit.

Thanks

Steve
01-02-2008, 02:45 PM
Mr Pulse,

Does PT's summary provide an accurate summarisation?

Current quote: 80/165, so it appears that the market is still a bit confused also...

Pulse Utilities
08-02-2008, 06:59 PM
It has been a busy few weeks progressing Institution and Cornerstone discussions. I look forward to answering your latest comments and will find some time over the weekend to respond to you all.

We are nearing our launch date of April 2008 for our services and disclosure of the Pulse Model will be made public at the New Zealand National Power Conference 26 - 28 February 2008, a press release will be lodged at the NZX at the same time.

We will be launching the new Retail Web-site in March so hopefully everything will become quite clear at that time. Please keep in mind that we have two audiences investors and consumers. This site gets a bit confused on both, the consumer offer is simple, will save money (up to 30%) and will be very easy to understand. The technology is complex, the trading in electricity is complex and there are some very cleaver parts of our patented technology that give us a strategic advantage.

Please keep in mind that our business profit comes from the asset on the wall, at the same or less cost than what our target market customers are paying today. Simply put, anything we do to reduce the variable rate on consumption is a bonus to the consumer. We will negotiate, aggregate or educate on behalf of our customers so that they are on the best rate possible at any given time and that we maximise their value in real time. The good news is that a lot of our target market customers know they are getting a raw deal and don't have the wherewithal, capacity or expertise to do anything about it. Well all that is about to change.

Have a great weekend you will be hearing back from me shortly.

bohdan
08-02-2008, 08:12 PM
Pulse,
Having taken the time to send you copies of my power bill as requested, I'm still waiting for a reply. You suggested earlier (based on the first bill that I sent you in December), that I was being billed incorrectly, and so I sent another bill as requested. So now I'd like to know what the story is please. Actually, we'd probably all like to know...?

Thanks
Kevin.

Pulse Utilities
10-02-2008, 12:55 PM
Hello Kevin,

Let me re-check email, I am only aware of receiving one bill, you can email me direct at james.martin@pulseutilities.com . We have not had a response back from the Electricity Commission (we contacted them in confidence without reference to your name or ICP). On the bill we received the savings we would have provided equated to 25%. However on the bill we received the number of kilowatt hours consumed did not match the kilowatt hours you were billed. Your retailer has deducted the controlled night rate from your total bill. Therefore the Electricity Commission Levy,the Electricity supplied and the Local Lines fees may all be wrong (to your advantage). The clearing manager will eventually pick this up as UFE (Unaccounted For Electricity). We are not sure if this is a breach, incompetence or a simple error in reporting. I will make the effort to get back to you tomorrow once I have checked info@pulseutilities.com mail. With your permission can we post the bill (we can remove anything that identifies you and your address) so the people reading this thread can see what we are talking about.

Thank you Kevin for taking the time to post in your bill it is appreciated. Murphy's law is it arrived with a quirk.

Pulse Utilities
10-02-2008, 01:34 PM
Having just read through the threads, I promised to get back to you personally, I have not done this. It must have slipped off my radar waiting a response from the commission.Thank you for your reminder and I apologize for not sending you a response in regard to the quirk on your bill sooner.

bohdan
10-02-2008, 02:14 PM
James,
I'll email you directly. Please do not post any copies of my bill here, anonymous or not.
Thanks.

Grimy
10-02-2008, 07:25 PM
Hi James,
You can use my bill as an example if you like. I sent it some time back to info@pulseutilities.com With name/address details removed.

Regards,
Graham.

Pulse Utilities
21-02-2008, 10:33 PM
Thank you Grimy for taking the time to email in your bill. I have not seen this yet,we have had some problems with our mail server hosted at Orcon. However we will not be reliant on them shortly as our main servers come on line shortly. Grimy can you please email me direct I would love to show you all how the model works. Also keep an eye out on the 26th Feb when we will be making our model public.

Hello Bohdan, I haven't seen anything from you yet in my email can you contact me please, I have now meet with the billing company and the Electricity Commission and you are not alone, it turns out that your retailer has made a mistake in the billing so it would be effecting everyone on your price plan.

Grimy
22-02-2008, 07:49 PM
Hi, I've just emailed you my latest bill. Let me know if you don't receive it.

bohdan
22-02-2008, 08:10 PM
Hello Bohdan, I haven't seen anything from you yet in my email can you contact me please, I have now meet with the billing company and the Electricity Commission and you are not alone, it turns out that your retailer has made a mistake in the billing so it would be effecting everyone on your price plan.

Email sent to info@pulse on 23/1
Email sent to james.martin@pulse on 10/2
Both sent to james.martin@pulse again 22/2

tim23
22-02-2008, 09:00 PM
Is this Pulse outfit ok the share price says its all bad?

Steve
23-02-2008, 02:00 PM
Is this Pulse outfit ok the share price says its all bad?

The shareprice is not saying that its all bad, it's just saying that the initial 'value' was most likely overstated...

Pulse Utilities
26-02-2008, 10:23 PM
Hello Steve,

Thank you for your comment to Tim, the share price shows that we have a few weak holders, we are in discussions now with investors and cornerstones this will conclude shortly. The investors are looking at our business model and not the share price.

In regard to Paper Tiger he is on the money, we are going to add a few more strings to the bow which you will see announced on Thursday 28th at the National Power Conference.

Bohdan, thank you for resending everything through. I will check the dates you forwarded these emails and get back to you on Friday.

Grimy, thank you for your bill, I received this and will get back to you also on Friday.

We have the conference on at the moment, due diligence with a number of parties and the integration and training on the Gentrack Billing platform plus the new servers going in.

Please forgive me for the delays in getting back to you, we should be back to normal early next week.

johndeyell
01-03-2008, 04:14 PM
Got a letter in the mail today from Meridian Energy which tells me they are going to install a smart meter at my house. Is this a Pulse meter? And if not does this mean all Meridian customers in the country will effectively miss out on getting a Pulse meter because they'll have this one?

How will this effect the company?

Steve
01-03-2008, 04:46 PM
I signed in for 3 years with Trustpower when I shifted house under a deal that was better than my existing one with Contact at the time.

As I still have a year to run, I guess I must wait for my contract period to end before considering a Pulse meter?

tim23
01-03-2008, 07:57 PM
Steve - how about mostly bad didn't they have a rights issue at about $2 recently?

Grimy
05-03-2008, 07:06 PM
Hello Steve,

Thank you for your comment to Tim, the share price shows that we have a few weak holders, we are in discussions now with investors and cornerstones this will conclude shortly. The investors are looking at our business model and not the share price.

In regard to Paper Tiger he is on the money, we are going to add a few more strings to the bow which you will see announced on Thursday 28th at the National Power Conference.

Bohdan, thank you for resending everything through. I will check the dates you forwarded these emails and get back to you on Friday.

Grimy, thank you for your bill, I received this and will get back to you also on Friday.

We have the conference on at the moment, due diligence with a number of parties and the integration and training on the Gentrack Billing platform plus the new servers going in.

Please forgive me for the delays in getting back to you, we should be back to normal early next week.

Hi there, any updates yet? And what were the announcements made last Thursday?

Grimy
09-03-2008, 06:47 PM
Still haven't heard back from you re my power bill. Or announcements made at the meeting.

minimoke
12-03-2008, 12:45 PM
Haven’t looked at PLU for a while as it just didn’t hit the right buttons for me. But today’s drop of 9% to $0.50, off a high of $2.45, on a bullish day encouraged me to relook.

Checked out the Release on 29 Feb and am still struggling to see what makes this company special. That it immediately refers to saving the environment turns me off immediately – its just not original. Politicians have to be forgiven their self serving obsession with vote gathering, but PLU have to be barking if they think their 60,000 potential customers will make a jot of difference to fossil fuel contribution to catastrophic climate change.

They are still sticking to the assertion that consumers will, with the Fair Trading Act disclaimer, save Up To 30% - still sounds like a Briscoes ad to me. To suggest further savings by shifting usage is already preaching to the converted – or won’t get through to those to whom this could make a difference. We are not going to shift turning the toaster on for breakfast or the oven on for Dinner to get these added benefits. Some of us already have our hot water, the biggest domestic consumer, coming on at Night Rates using a very inexpensive timer on the switchboard.

I am still nervous about their claims about providing power near to cost price. Off peak rates seem to be best between midnight and 7.00am (when I use a lot of my power) but they are offering a deal from 9.00pm to 11.00pm which is still an expensive time of day. It is clear they won’t make money on selling power – and if their Pricing people don’t get it right could make a loss.


So the money is going to be made from the Smart Meter – and try as I might, I just can’t see why I would want one. If PLU can’t get a message through to me, and I have a pretty open mind on power savings, I suspect they will have more difficulty with those who aren’t as interested. Still not a buyer at $0.50.

Toddy
12-03-2008, 01:01 PM
Minimoke

Wouldn't it be fun trying to explain to the kids why dad wants them to watch tv from 3am to 5am in the morning.

I'll get a Pulse meter once my neighbour has installed one and brags about it over the fence. I suspect that it will be a good few years off though. And thats Pulse's problem, its going to be years before critical mass is built up enough to turn a good profit on shareholders funds.

minimoke
12-03-2008, 01:26 PM
I'll get a Pulse meter once my neighbour has installed one and brags about it over the fence. ...
But I think you and I already have one – its the mass between our ears. We surely don’t need some flash meter to tell us that turning the oven on at 5.00pm is going to send our power usage up. To getting bragging rights PLU might have to look to Bose, as an example, on how to market a low value, high margin, bragging rights product.

Grimy
13-03-2008, 06:39 PM
Unfortunately, I am not surprised that the share price is plummeting. I am sure all at Pulse are very busy getting things ready for their roll-out of smart meters, but the lack of concrete news/updates, and lack of promised respones on this thread doesn't do anything for the confidence levels.
I'm all ready to sign up if this will save me money, but even after sending in my bill with permission for them to use it on this site, and posts from Pulse that we will be replied to, nothings happened. Is it because the figures don't look good against my bill?
As there hasn't been any post (or email directly), I'll say that my bill is usually $110~$120 per month. Thirty% off that is roughly $35. Bang on $30 for the meter rental gives me a saving of $5 - at their stated maximum discount. Hardly worth the paperwork to change, and if in my situation the saving is ten%, then obviously I'm better off staying where I am.
I'd love to see the figures on my bill guys.

Serpie
13-03-2008, 07:26 PM
As a Pulse shareholder (via the initial Tasman allocation) I must say that I'm disappointed with Pulse's efforts on this board.
Pulse chose this board as a forum to communicate with stakeholders, both existing and possible, and their lack of response has made them look silly.
If they treat their shareholders this way, then what hope for their customers?

Corporate
13-03-2008, 07:46 PM
As a Pulse shareholder (via the initial Tasman allocation) I must say that I'm disappointed with Pulse's efforts on this board.
Pulse chose this board as a forum to communicate with stakeholders, both existing and possible, and their lack of response has made them look silly.
If they treat their shareholders this way, then what hope for their customers?

Agreed. It is concerning that they can't even keep their word.

Toddy
13-03-2008, 08:03 PM
I'm a little confused about the last line of the article below. I thought that 'commercial clients' bought their electricity at fixed prices on term contracts and topped up via the spot market.

This chat board has been more about residential mum and dads burning power at off peak times to save money.

Maybe that explains the lack of response re readers queries on this site. We do not fit into the current business strategy.




By NZPA
Thursday 13th March 2008

Prospective electricity retailer Pulse Utilities says share sales by "a very small number" of shareholders are behind a fall in the company's share price from $1.70 to 50c in the past two months.

Pulse shares traded as high as $2.45 when they listed on the NZAX alternative market in November, in an offer limited to existing shareholders.

Today chairman Don Purdon said Pulse's directors could not speculate on the reasons the small number of shareholders had sold at 50c.

He gave an assurance that Pulse was complying with sharemarket continuous disclosure requirements.

Purdon's explanation was made after an inquiry about the share price fall by NZX.

He also said Pulse discussions with potential investors had advanced considerably since January, although nothing substantive could be announced for now.

The potential investors had clearly emphasised to Pulse that they understood the volatility in the share price was driven by a small number of sellers and was not a significant factor in assessing the company's long-term value, Purdon said.

Pulse said it planned to start operations as an electricity retailer and offer up to 30% lower electricity prices to consumers to get them to sign with Pulse.

Pulse would then attach its smart electricity meter and charge a fixed daily fee, as well as offering further services such as alarm monitoring, home automation, and the ability for private generators to sell electricity they produced.

The Electricity Commission had given approval to Pulse to start a roll out, intended from next month, to reach the company's first year target of 1800 commercial customers.

ratkin
13-03-2008, 08:45 PM
Any company that has to resort to an internet forum for support is obviously going to be dodgy.

I still remember the guy from feverpitch seven years ago who tried to interest all in his betting exchange. I had personal knowledge of the industry and when i started asking the hard questions he suddenly stopped informing the forum.

Needless to say his exchange fell apart at the seams soon afterwards

minimoke
14-03-2008, 08:46 AM
[quote=Toddy;189626]I'm a little confused ....


I don’t think there should be confusion. PLU has made it very clear that they will be selling electricity for a little above wholesale. This essentially means they are not making any money on power.

Where they intend to make their money is on the installation of the Smart Meter. To succeed here they have to get volume.



How much resource will it take to sell a smart metre to a Mum and Dad compared with a commercial business – it is still only one meter. There are 120,000 Green Voters out there to start with who ought to be a dead cert for something like this. I’d think, that with a good pitch, it would be easier, and quicker to sell to the mums and dads. Would it not be easier to sell to 60,000 households than 60,000 commercial businesses?

Oh – and I’m happy to cut the folks at PLU some slack. They have no doubt been very busy with their listing, trying to get product to market and dealing with product resource launch and conferences. They are now also having to deal with a sliding SP. They will, I bet already be having some pretty late nights. Hopefully they are also learning on how to manage expectations.

Serpie
14-03-2008, 09:20 AM
I went to the Pulse roadshow MM, and when asked about their target market they were clear that their rollout was to be geographical, rather than demographical.
Apparently it wasn't viable (or economic) at this stage to be running around the country responding to support from greenies, shareholders or any other group. They wanted to hit small areas, and were going to target light industry first.

minimoke
14-03-2008, 09:59 AM
That makes sense. But if its $30 a month for a meter with 1,800 take ups in a year equals $650,000. That is not viable or sustainable.

Light commercial aren’t going to be able to change their power usage by much. Around 7.00 to 8.00am is when all their machines get turned on. Delay this a few hours to cheaper rates means a few hours lost production – saving up to 30% on your power over this period probably won’t make up for lost production. To do so would involve major business re-engineering. They also turn their machines off at 5.00pm which is already outside the 5 – 9 evening peak – so no savings there.

And launching in April?? The time of year when the days get darker and the weather cooler. This is when heaters get turned on at the start of the working day. Trying to sell off peak power at the start of the seasonal peaking doesn’t make a lot of sense to me.



They will need to hit Auckland, and Auckland only - hard and fast!

Pulse Utilities
14-03-2008, 05:13 PM
Update

We have upgraded to the new servers. This has taken a considerable amount of resource and time. In addition we are in the middle of cornerstone discussions. These are going well.

Grimy and Bohdan please accept my apology again, it is very poor form not to deliver to a promised time frame or post a reply. We have been 100% focused on the cornerstone discussions and server installations.

Grimy,

I have your bill, I am not able to see the numbers very clearly, the resolution is quite poor. I can not make out the Mercury numbers on the back.
What I require are the following figures please;
Variable Usage Charge
Fixed daily Charge

Also Grimy the announcement made last Thursday re multiple pricing is on the NZ X

Bohdan,

I can still only find one bill we have searched through every email and the only record is 23/1. We can not see your emails from 10/2 or 22/2 there may be a simple reason for this using .co.nz instead of .com or our server may have blocked them due to attachments.

In regard to your 21 Oct to 20 Nov bill,

The Meridian Economy 24 rate is 13.70 cents this would go to 10.70 cents at wholesale supply. The fixed daily rate would remain constant at 89.53 cents this is where we make our margin. At the option of the lines company and we have not had a discussion with them on this topic would be the added incentive to further lower your bill in off peak times. So we give you a lower cost of electricity, then we add the incentive to reduce your bill even further by offering a second off peak price period or periods. Today this shows on your bill at 8.99 cents as a night tariff. However it does not really address the need to send a price signal to you at peak times during the day.



johndeyell

The Meridian meter being installed is there on behalf of your retailer, not on your behalf. The difference with Pulse is that we work on your behalf to get the best deal. Please let us know if Meridian are now going offer you a better deal on your power?

Steve

In regard to Trust Power customers that want to switch we may offer to pay the default to the retailer and deduct this from the savings.

Serpie

You are right the offering from Pulse is targeted at light industry and will be geographic. Each lines company will have their unique needs and pricing, with Pulse taking its pricing back to wholesale as it enters the grid.

In regard to numbers we are working on large clusters of installations. One contact point that may manage thousands of individual connections. For example Body Corporates and large property management companies.

Mini Moke in regard to being green, it is nice to know that when we are saving money on the power account it also saves the burning of fossil fuels and is really just a chance for some one to get rewarded for doing their bit.

Grimy
14-03-2008, 06:25 PM
I'll have a new bill in a few days so will email you at full size.

Pulse Utilities
14-03-2008, 10:07 PM
Hello Grimy, can you let me know what your variable charge and daily fixed charge was on your last bill.

Thank you

kura
15-03-2008, 08:14 AM
I'll have a new bill in a few days so will email you at full size.

As an aside, I convert most images I want to email into pdf first, that way what you see, is going to be what the reciepient can see.

I use something called "pdf factory" (google it) it is free to download trial version, but if you choose not to pay for it, it adds a one line advt at the bottom of each page, (which is quite acceptable to me) It's also easy to use.

Serpie
15-03-2008, 08:59 AM
Also try one called "Cutepdf". It's the best one I've found, and outperforms other packagesthat I've paid for.
Cutepdf is a free download.

whirly
15-03-2008, 10:13 AM
http://www.exp-systems.com/PDFreDirect/Downloads.htm?2

The freeware version of PDF reDirect works well too. Saves heaps of hassles with people not having the right programs to open attachments. Most PC users have a PDF reader such as adobe.

Pulse Utilities
15-03-2008, 06:13 PM
Hello Grimy after leaving this forum for a little while and not seeing the mess I created im now checking in a bit more regularly.

I have just picked up on your posting regarding what a Pulse offer might look like for you. You posted "savings of $5" after we have added $30 for our service fee.

This is not quite correct, you will more than likely not see an increase in fixed daily fees from Pulse.

The industry we are in is like the airline industry, every carrier has a different way of packaging their deal even though its the same amount of gas and distance and if thats not confusing enough on the same carrier don't ask the person next to you what they paid because it will aways be different.

The fact is that you can not pay a higher price for electricity and get a better quality. Electricity can't be identified at your home by a brand. It will always come from the closest source. Security of supply is the response of your retailer.

With a product that is this generic we just have to pick all the pricing elements that make up your bill. Have a wholesale supply and provide you a bill.

What we find is their are little savings everywhere ( we have a few large retailers all making big profits) and we work out how best to package this for you so that you understand.

Thank you and I look forward to getting back to you once I can understand how you are being billed.

Pulse Utilities
16-03-2008, 10:27 AM
The fact is that you can not pay a higher price for electricity and get a better quality. Electricity can't be identified at your home by a brand. It will always come from the closest source. Security of supply is the response of your retailer.

Sorry this should read security of supply is the responsibility of your lines company.

There has also been quite a bit of speculation on how we get to a wholesale price. Our wholesale price is made up of existing retailer offers, hedge agreements, contracts for difference, and offers from private generation. These four trading instruments mean that we are not exposed to spot markets, and the contract for difference means that if prices go up it may actually benefit some of our customers.

Grimy
16-03-2008, 07:41 PM
Hello Grimy, can you let me know what your variable charge and daily fixed charge was on your last bill.

Thank you

Sorry, I binned my last bill. As soon as the new one arrives I'll send you a nice clear copy.

Grimy
16-03-2008, 07:45 PM
WTF? your power bill is only $110 per month? :eek: Do you burn firewood to heat up your hot water? :D

It gets higher in winter. probably $130~140 ish.
My last one was $114. How can you use much more than that during summer? We have a small house, but 3 TVs, 2 PCs, XBOX, Wii.

whirly
16-03-2008, 08:25 PM
Grimy

Try spa pool, swimming pool, endless showers for teenage daughters, air-conditioning and heating for an elderly family member and $114 sounds like a weeks worth.:eek:

bohdan
16-03-2008, 08:25 PM
Update
...in regard to numbers we are working on large clusters of installations. One contact point that may manage thousands of individual connections. For example Body Corporates and large property management companies.


so those 1800 "connections" targeted in the first year may actually translate to many (many) more income streams? Is that how I should read that?

minimoke
17-03-2008, 08:58 AM
It gets higher in winter. probably $130~140 ish.
My last one was $114. How can you use much more than that during summer? We have a small house, but 3 TVs, 2 PCs, XBOX, Wii.
Jeez – I thought my $90 a month , even when the air-con is on, was getting a bit steep! We’ll average $125 a month across the year so maybe thats not so bad afterall.

bear
17-03-2008, 10:23 AM
Jeez – I thought my $90 a month , even when the air-con is on, was getting a bit steep! We’ll average $125 a month across the year so maybe thats not so bad afterall.

mmmmm ..... Someone in my household must be eating the stuff - my bill averages about $170 per month.

oh to have it around what you folks pay

no air con either

Bear

Serpie
17-03-2008, 11:05 AM
mmmmm ..... Someone in my household must be eating the stuff - my bill averages about $170 per month.

Mine averages about $400 in the winter - and that was with a log burner!
I'm going to print this thread out and show it to my wife - I think she must be in the garage welding all day while I'm at work.

Nevl
17-03-2008, 11:52 AM
hi Serpie. I worked for an electricity company for a while and can tell you that unless you are growing marijuana in your basement under heatlamps your bill should not be any where near $400/ Month. Makesure your hotwater cylinder is working properly with no leaks or not set too high. Also if you use oil heaters or dehumidifiers make sure the doors are shut and the thermostats are not set too high. Unless you live in a drafty house with no insulation and keep all your windows open this is a huge amount of power you are using. Call your eletricity company they usually offer a service where an inspector will visit the house and recomend changes to cut your power bill.

whirly
17-03-2008, 12:08 PM
I just found out why my bill seems so much higher than others. Location!!! Our power on the west coast is almost double the price of Auckland Central.:eek:

Compare your powerbills here.- http://www.consumer.org.nz/powerswitch/default.asp

Toddy
17-03-2008, 12:23 PM
Mine averages about $400 in the winter - and that was with a log burner!
I'm going to print this thread out and show it to my wife - I think she must be in the garage welding all day while I'm at work.

Serpie

We moved into a big house and our electricity bill kept coming in at $350. I asked advice from the electricity company etc and could not work it out. We eliminated items one by one over a few months, spa pool etc until we had hardly anything left to turn off.

The answer was this flash under floor heating, yep, it chewed through around $170 per month set at around 17 degrees for the kitchen and bathroom. So, if you have under floor heating go and turn it off now! It was only around four years old too.

The spa pool only chewed through around $40 per month.

Sumnerned
17-03-2008, 01:43 PM
We installed solar water heating using our existing cylinder, cost around $5.5k, savings about $75 per month. A no brainer if you can get it done for a reasonable price.

Doc

Around 55C is a sensible hot water temperature. Temperature control dial should be on the element mount towards the bottom of your cylinder. If there are no temperature markings, just set it to the minimum and see how you go.

Good luck!

PS Power prices are forecast to rise by another 30% over the next few years!

POSSUM THE CAT
17-03-2008, 03:05 PM
SUMNERNED What savings Take the savings $900 per year Add the cost of borrowing $5500 and the depreciation on system and what have you saved. F/all. And then add the cost of heating the water up to normal temperature for use in a lot of house hold uses 55c is germ breeding temperature rather than killing. I actually save money by running water cylinder at 80c and using far less of it with very little extra heating needed. A friendly Architect building a house for his family costed out a solar hot water system for his family at there pattern of usage. The pay back period was 20years and the maker did not think it was likely to last 12years

Financially dependant
17-03-2008, 04:11 PM
Thanks, will give it a try today.

It seems like your solar panel will take just over 6 years to recover cost. How long does the solar panels last? I hear they dont last very long.

Some have been going for over 20 years!

I just enjoy having long hot showers for free:)

Nevl
17-03-2008, 04:54 PM
yeah 60cel is about right for both killing germs and not being too hot. Most say between 55 and 63. Also if you have kids it should be lower as higher than 60 means it is easy to get scalded when the tap runs hot. Solar water heaters will generally knock about 40% off your power bill for an "average" household. Don't get confused between solar panels(photovoltaic which produce eletricity and are not yet efficient) and Solar waterheaters which just heat up the water by catching the heat and transferring it to the water. Imagine a hose left out in the sun and thats basically how they work. They don't make eletricity. Just a simple water heater.

Serpie
17-03-2008, 08:20 PM
Cheers Nevl,

I'm a sparky, so I know where it's all going, which just makes it worse.
With a young family at home, and a wife that likes a nice cosy house, it's just not worth the arguments. So I keep my trap shut and just fork out every month. The price of peace.

And the log burner came out over the summer, and now she wants underfloor heating in the new bathroom!

Certainly makes me look forward to spring.

Crypto Crude
17-03-2008, 08:36 PM
.....whipishhhh....
:D
.^sc

Serpie
17-03-2008, 08:51 PM
The stakes are too high now Shrewdy - a power bill is cheaper than a divorce!
You'll learn ya young Whipper Snapper. Just make sure that you keep feeding me the hot tips (like AKK) so I can keep the lights on.

minimoke
17-03-2008, 09:04 PM
and now she wants underfloor heating in the new bathroom!

Certainly makes me look forward to spring.
Trade rates timer and element, around 100 watts, for 1 – 2 hours at night rates and a bit of glue. The tiles or lino is what will do the damage not the power.

Crypto Crude
17-03-2008, 10:09 PM
serpie-so I can keep the lights on.
Serpie,
Heres a lesson on how to impress the lady and save on the power bill...
Use candles... its far more romantic....
:p
.^sc

Nevl
18-03-2008, 08:39 AM
Bad luck Serpie. Good luck with the underfloor. Maybe it will be better than heaters though. At least you can do the electrical work yourself!! I think Shrewdy has the answer. Duvets, Rugs and candles. You keep her cosy in front of the log burner.

Sumnerned
18-03-2008, 07:08 PM
Shrewdy's onto it. As the old song says, all the nice girls love a candle...

minimoke
20-03-2008, 01:21 PM
Somebody hocked off 200 shares at 170 today .... on the scorecard PLU is down 29.2% today
And someone has picked up 20,000 at $0.50 today. The first reasonbale trade for a while. Tasman generating a bit of cash?

Grimy
20-03-2008, 07:21 PM
I've sent my latest bill to James tonight, so hopefully we will see some figures soon. My power bill for Feb was $109.84, so will be interesting to see what I would be paying on a Pulse account.

Steve
20-03-2008, 08:14 PM
I've sent my latest bill to James tonight, so hopefully we will see some figures soon. My power bill for Feb was $109.84, so will be interesting to see what I would be paying on a Pulse account.

My guesstimate, based on the information at my disposal is $109.25 - any other guesstimates? :D

whirly
20-03-2008, 11:15 PM
$106.24 with possibility to save more by using night supply at discount rate.

;)

minimoke
27-03-2008, 04:21 PM
I’d be banning small shareholders. An $800 trade today to knock another 20% off, down to $0.40!

Steve
27-03-2008, 06:21 PM
I’d be banning small shareholders. An $800 trade today to knock another 20% off, down to $0.40!

But without the small shareholders ex Tasman, this listing wouldn't have happened...

strayda
27-03-2008, 09:02 PM
Maybe some sort of escrow arrangement for a year would have been best. Allow Pulse to find its feet (or not) before us Tasman holders could destroy its SP with low volume sales.

Toddy
27-03-2008, 10:07 PM
Maybe some sort of escrow arrangement for a year would have been best. Allow Pulse to find its feet (or not) before us Tasman holders could destroy its SP with low volume sales.

Not all is lost. Here is a plan for the Tasman shareholders. It's really just a blue print off the BlueChip business plan.

Tasman shareholdes should run out and install the Pulse smart meters. Now comes the 'smart' bit. Use all of the savings you are going to make from lower electricity bills to buy cheap Pulse shares, pushing the SP up.

Makes sense...... ?

Steve
28-03-2008, 06:29 AM
Not all is lost. Here is a plan for the Tasman shareholders. It's really just a blue print off the BlueChip business plan.

Tasman shareholdes should run out and install the Pulse smart meters. Now comes the 'smart' bit. Use all of the savings you are going to make from lower electricity bills to buy cheap Pulse shares, pushing the SP up.

Makes sense...... ?

So that's the first 500 sales taken care of...

Pulse Utilities
28-03-2008, 05:23 PM
Hello,

I look forward to catching up again with all of your comments over the weekend. Our focus has been on funding and the tweaks for a go live date next week.

Grimy I have your response ready and think you will all find it interesting reading.

In regard to share price, again we reiterate that none of our "potential" cornerstone investors are looking at it. We really are being treated as if we where a private company.

By the way there has been just one seller in March so none of the trades are from Tasman Shareholders.

We have valued your support and Joe has been a fantastic Director and adviser during this extremely volatile period.

Have a great weekend, I will be setting some time aside tomorrow to respond to Grimy and Bohdan.

Steve: great since of humour, if only the Tasman shareholders could sell Pulse or install two extra meters one for each neighbour , I could then go home and have a beer.

Grimy
28-03-2008, 06:09 PM
Looking forward to it.
I'm sure for all the comments made, we are wanting Pulse to "take off" and do well.

Grimy
01-04-2008, 06:15 PM
Grimy I have your response ready and think you will all find it interesting reading.
Have a great weekend, I will be setting some time aside tomorrow to respond to Grimy and Bohdan.


Any update?

Steve
02-04-2008, 06:49 AM
Any update?

Grimy, just send me a copy of your power bill and I will cut it if half for you! :D

POSSUM THE CAT
02-04-2008, 07:39 AM
Grimy I will sell you a device to cut your power bill in half every month if used as instructed. Just $10.00 plus post & packing much cheaper than the pulse meter. I can also supply a device that will remove the fat from any part of your body you so desire.

Grimy
02-04-2008, 06:15 PM
I can also supply a device that will remove the fat from any part of your body you so desire.

Now you're talking!!

minimoke
10-04-2008, 04:14 PM
Should we be excited about a 75% increase in SP today. Probably not. 4 trades with a total value of $11,000 aint going to do it.

Grimy
10-04-2008, 06:05 PM
I'd just be happy to get the response to my power bill we were all promised the weekend before last.................

minimoke
10-04-2008, 06:09 PM
I'd just be happy to get the response to my power bill we were all promised the weekend before last.................
Don’t sweat it. Your power bill will be less today than it is in a years time – and you don’t need a SMART meter to work that out.

Grimy
10-04-2008, 06:20 PM
Don’t sweat it. Your power bill will be less today than it is in a years time – and you don’t need a SMART meter to work that out.

I'm not expecting great things (if the power bill was going to be full of great savings I'm sure I would have heard by now), just a bit of follow-up would be nice.
We've had the apologies and "must do better" post, followed by............nothing.

Steve
10-04-2008, 10:26 PM
I'm not expecting great things (if the power bill was going to be full of great savings I'm sure I would have heard by now), just a bit of follow-up would be nice.
We've had the apologies and "must do better" post, followed by............nothing.

Communicating thru a public forum is obviously a double-edged sword...

Pulse Utilities
13-04-2008, 09:27 AM
I tried to post a response in excell and it didn't format.

Sorry I should have addressed this simple matter earlier.

I'll give it a go from work this afternoon.

In regard to savings they are in line with expectations.

Pulse Utilities
14-04-2008, 01:21 PM
Ok, a posting in this forum will not allow formating, if I try and upload the files they are limited by the 19.5 Kb file size. I'll see what I can do without any formating, however it is best to lay this out in a table so that you can see how it all works. Grimy in the mean time we will send an email with what we have to you directly.

Kind regards

Toddy
14-04-2008, 03:28 PM
Ok, a posting in this forum will not allow formating, if I try and upload the files they are limited by the 19.5 Kb file size. I'll see what I can do without any formating, however it is best to lay this out in a table so that you can see how it all works. Grimy in the mean time we will send an email with what we have to you directly.

Kind regards

Link the files to the Pulse web site.

Pulse Utilities
14-04-2008, 04:48 PM
would not imagine many people would send their bill to either yourself or any of your sales reps cold calling (privacy issues).

We treat everything as private and confidential, a copy of the bill is most definitely the best option. we haven't been turned down yet and always return the bill.

This is also the most accurate way to get an understanding of your current terms

bohdan
01-05-2008, 08:03 PM
Pulse, how about a little update after the first month?

- how's the advertising going,
- how are the fish biting,
- whats going right and whats not?
- are the trading systems / consumer systems working OK

etc. Just a little re-assurance that the company is now in full trading mode.

As I'm in Dunedin I obviously won't see any of the advertising that you must be doing in the N.Is main centers, so it'd be interesting to see how things are going after the 1st month.

Thanks.

bohdan
01-05-2008, 08:23 PM
Am I being obtuse or does this (at the bottom of the join pulse page on your website) not really make sense?


Welcome to PULSE NRG (0800 785736)

===========================================
Shouldn't it read something like

"Welcome to Pulse.
Contact us at 0800 PULSE NRG (0800 785 736)"


No?

Mark1
02-05-2008, 01:02 PM
PLU
02/05/2008
GENERAL

REL: 0937 HRS Pulse Utilities New Zealand Limited

GENERAL: PLU: Pulse Meets Milestones

Pulse Meets Milestones

Pulse has met its meter installation targets for April in line with it's 2008
- 2009 business plan and projections it released to the market at the time of
listing. Pulse has delivered this result under budget and has met all other
milestones. Pulse is pleased to be able to bring savings to our customers in
spite of increased wholesale electricity market volatility.

These customers are now paying 16 cents a day for their electricity which
includes lines charges. With recent retailer offers around 22 cents this
represents savings of up to 30% and is consistent with the savings Pulse
predicted it could bring to new customers.

The company has completed system implementation with Talgentra's Gentrack
billing engine integrating customer activation with meter data management and
billing capabilities. The Talgentra system allows Pulse to supply time of use
meter data information to customers and the industry and also now aligns
Pulse with 85% of the electricity industry.

Pulse has gained use of systems agreements allowing the retailing of
electricity across 35% of all consumers in New Zealand with the first new
customers in both Auckland and Wellington.

In addition to low cost electricity Pulse is offering variable pricing
incentives to entice consumers to use electricity at "off-peak" periods,
enabling customers to save even more. money. The peak periods often trigger
environmentally unfriendly gas, diesel and coal generation to be fired up.
Pulse's technology and price plans encourage customers to shift electricity
usage away from these peak times.

The company is completing investment discussions with potential Cornerstone
investors Executive Chairman Don Purdon said the company hopes to be able to
announce the conclusion of these discussions shortly.

Don Purdon
Chairman

Yossarian
02-05-2008, 01:22 PM
I've got to say, the misplaced apostrophe in "it's" is a sell signal for me !

(Just a pet peeve)

Disc: micro holding

COLIN
02-05-2008, 03:59 PM
I've got to say, the misplaced apostrophe in "it's" is a sell signal for me !

(Just a pet peeve)

Disc: micro holding

But they got one right!

Grimy
04-05-2008, 03:34 PM
James came back to me with lots of figures, but the guts of it is that with Mercury my bill was $109.84. If I'd been with Pulse that would have been $97.77 - an 11% saving.
James confirmed that that figure included the rental of the meter.
I have to say I'm reasonably impressed with that, as I didn't expect the savings to be huge with a bill of that size. I'm on the low user tariff rate, and Mercury are one of the cheaper companies to be with (apparently). Savings would be much closer to the 30% Pulse mention for a household using more power. I hope someone else with a bill of around $150~$200 sends it to Pulse and posts the result, as if the savings are to be had, and Pulse can convey that to the market, I can't see why they wouldn't do well. Hey, I'd even look at investing!

whirly
05-05-2008, 12:55 PM
Pulse Utilities lines up cornerstone investor (http://www.stuff.co.nz/4509661a13.html)

Toddy
05-05-2008, 01:38 PM
Pulse Utilities lines up cornerstone investor (http://www.stuff.co.nz/4509661a13.html)

This is the kind of risk IFT would take. They already know the business here and in Australia.

Pulse Utilities
05-05-2008, 06:17 PM
Yossarian,

My father is an ex school teacher, we try as best we can to critique the announcements prior to releasing them to market. If you note from my feed back, I will always write "It is" in full so I understand what you are saying. It is a bit harder for the staff to critique the Chairman.

Grimy's Bill,

There are two points I would like to make; the fixed daily fee on Grimy's bill was 33 cents. Making the adjustment to our tariff equated to $15 odd dollars extra which had an impact on the overall savings. Secondly, the savings on variable consumption were in line with expectations at around 25%. The net effect is that savings would increase along with consumption.

Posting The Results

We are reluctant to post the results from Bills supplied in this investor forum up on our web-site which is gearing up to be consumer focused, as this sets a price expectation and may falsely indicate that we are in an area. Let us work through the options and meet our targets in the mean time while we work through the best opportunities going forward. Please however rest assured that we will be meeting our milestones as they fall due.

Toddy

Yes, we follow what IFT are doing and hold their management in high regard.
It is a bit early for any meaningful discussions with them yet, let us build up the value in Pulse first.


Bohdan

Thank you will make the change on the Web-site. I have delegated this out and will review the site once cornerstone negotiations are complete.

Pulse Utilities
09-05-2008, 10:39 AM
The Directors of Pulse are pleased to announce that they have received a Letter of Intent from a lines company to purchase 1 million convertible loan notes at $2 each. This provides funding of $2 million which will be progressively drawn down providing business plan milestones are met. The notes can convert at any time over the next 24 months to 10% equity in Pulse.

This Cornerstone investor has based the decision on the significant growth prospects for smart metering in New Zealand and the proposed benefit through a joint venture on their network.

To confirm this investment Pulse will need to meet two conditions (1) finalising the broad terms of a joint venture with the lines company, and (2) securing an additional $2.5 million from industry players, investment companies and private investors.

The additional $2.5 million will be offered on the same or similar terms. The convertible loan note instrument ensures that the objectives of Pulse and those of the investors are directly aligned.

The joint venture on the lines company network is additional to Pulse’s business plan targets for 2008/2009 of 1800 customers in the first year. Pulse has already met its installation targets for April as previously communicated to the market.

The Pulse board hopes to be in a position to announce the conclusion of our investment discussions shortly.

minimoke
09-05-2008, 01:34 PM
The notes can convert at any time over the next 24 months to 10% equity in Pulse.

$2m for $680k at todays value – this corner stone investor must be expecting huge things in the next 24 months.

whirly
09-05-2008, 01:52 PM
and whos got that sort of money at the moment?

Transpower (not sure this would be their thing tho'), Vector?

Or are these just me in dreamland.

minimoke
09-05-2008, 02:05 PM
and whos got that sort of money at the moment?

Petty cash really. Even vector can manage a $90m half year profit. Write off 15% to R and D and it looks even better.

Pulse Utilities
11-05-2008, 10:39 PM
Our cornerstone discussions are based on funding our current business plan.

minimoke
27-05-2008, 08:12 AM
In yesterdays news Meridian are rolling out 50,000 smart meters in Christchurch as part of a $100m upgrade programme. Puts the cornerstones $2m into a bit more perspective. It looks like Meridians focus is on remote meter reading with add-ons coming later. These include the ability to turn heaters and heat pumps on remotely. Now I’m not sure about the last part. My Smart Meter told me to turn my heat pumps on three weeks ago and I haven’t turned them off yet. YE reporting on electricity sales will be interesting – those lake levels aren’t getting any better. Disc bought CEN at $7.90 at end of Feb and looking at topping up this week – I think this is where the money is to be made this year.

Steve
27-05-2008, 06:33 PM
So it looks like the competition is getting up and running...

minimoke
05-06-2008, 09:58 AM
So it looks like the competition is getting up and running...
And today the sell price is $0.51 but no buyers at any price!

Steve
05-06-2008, 03:28 PM
And today the sell price is $0.51 but no buyers at any price!

Given that Tasman shareholders only received a couple of hundred shares and most didn't participate in the subsequent rights issue, then it must be one of the bigger holders who have been offering shares for sale in parcels of 10,000, 20,000 and even 16,000?

Trying to make a market perhaps?

Pulse Utilities
06-06-2008, 05:27 AM
Minimoke

Meridian have rolled out 50,000 meters over the past two years, this is not a new initiative, they intended to have the full 100,000 deployed by now and have found it difficult to achieve this target for a number of reasons.

Pulse owns patented technology that overcomes both communication issues and reduces cost. The actual cost of an Arc Innovations meter (Meridian) has not been made public but simple maths indicates $1000 to set up. We are significantly more cost effective and have positioned ourselves to support new independent generation and lines companies.

The Government in addressing our immediate need for new generation has now relaxed on some of the restrictions placed on a lines company wishing to exploit generation in their network area.

Please refer to the following announcement made 5th June (last night) as this opens up a number of very real opportunities for Pulse to supply outsourced billing and meter data management services to a lines co or to offer full retail services on their behalf.

http://www.parliament.nz/en-NZ/SC/Reports/8/4/8/48DBSCH_SCR4081_1-Electricity-Industry-Reform-Amendment-Bill-191-2.htm

Steve

Your observation is correct, no Tasman Shareholders are selling in fact some are buying, this being an ideal opportunity to lower their entry price to Pulse if they subscribed to the Rights Issue.

In regard to the larger parcels of shares on market , some shareholders received shares as part of the purchase of Australian Rights, there are a few weak holders in this group. However most if not all of the original shareholders are in for the long haul. We trust that our communication to investors outlines the future value based on delivery of our business plan.

We look forward to communicating recent developments in meter deployment and investor discussions shortly

minimoke
06-06-2008, 06:47 AM
Please refer to the following announcement made 5th June (last night) as this opens up a number of very real opportunities for Pulse to supply outsourced billing and meter data management services to a lines co or to offer full retail services on their behalf.


Maybe so but I wonder if the announcements coming on Monday by the Government and power companies will be a disservice to Pulse. If these people come out and tell consumers how to save power (without the need of a meter) then could this make the smart meters less useful. We are already getting (dodgy) tips on how to manage our power – like unplug the mobile phone charger to save $100 a year. Another good one is to turn your heat pumps on when you need the heat – like when you get up in the morning and home from work – that seems like a good way of sucking the life from the grid – but they are all messages empowering people to control their power usage without a meter.

Yossarian
06-06-2008, 08:27 AM
unplug the mobile phone charger to save $100 a year.

Where did you hear this?

minimoke
06-06-2008, 08:48 AM
Where did you hear this?
On the radio the other day. It was in the media so must be true!! WinterPower are also recommending this action - but they don't give any dollar value savings. Things must be dire if we are getting tips like this. My charger outputs 4.9v = 850mA so it's 0.04 of a watt (someone help me on the math here!) . I do like their tip to use your pellet fire if you have one. And Christchurch people will appreciate their advice to use the wood fire – which we have been told for years to pull out.

Yossarian
06-06-2008, 09:43 AM
it just seems a bit odd to me 'cos it's not using any power if it's not actually charging my phone is it?? i.e. isn't it just like having an appliance plugged in but switched off?

minimoke
06-06-2008, 09:52 AM
it just seems a bit odd to me 'cos it's not using any power if it's not actually charging my phone is it?? i.e. isn't it just like having an appliance plugged in but switched off?
I think they figure that if anything is plugged in it will use power. I understand if you have your TV on standby and stuff like that will use power (if nothing else there are standby lights and clocks burning power) but I would have thought the power consumption of a phone charger when it is not in use or when the phone is fully charged would be negligible. I wonder if a Pulse Meter could measure it?

Financially dependant
06-06-2008, 10:31 AM
Most power supplies have to change voltage (especially chargers), this is normally done with a transformer (wired wound electro-magnet) if the power supply is plugged in it will excite the primary coil regardless if anything is connected to the secondary coil (like a phone/battery drill etc).

Yossarian
06-06-2008, 10:57 AM
Most power supplies have to change voltage (especially chargers), this is normally done with a transformer (wired wound electro-magnet) if the power supply is plugged in it will excite the primary coil regardless if anything is connected to the secondary coil (like a phone/battery drill etc).

Thank you for the enlightenment! Very interesting. (I have always left my chargers plugged in, to date!)

Heke
06-06-2008, 11:40 AM
Thanks minimoke and Yossarian

A cell phone charger consumes power as soon as it is plugged into a live power socket. These are the losses in the transformer or electronic conversion device. Typically they consume about 20mA at 230V idling. This works out to 4.6 watts per hour. Now, if the cell phone is charged for 2 hours twice a week based on 4.9V at 850mA, we use 4.165 watts, or 16.66 watts-hours per week. The annual consumption is 16.66 watts times 52 weeks, about 866 watt-hours.
Now, let’s calculate the losses for the whole year. 4.6 watts times 24 hours times 365 days, gives us 40.296 kilowatt hours. Based on 20c/kwh works out at $8.06 if we left the charger plugged in.
Let’s calculate the cost to charge the cell phone for the year if we unplug the charger each time. 4.165 watts plus losses of 4.6 watts gives 8.765 watts times 4 hours, times 52 weeks gives 1.82 kilowatt hours and at 20c/kwh gives a cost of about 36 cents.
By unplugging the charger you would save $7.70 a year.

Toddy
06-06-2008, 01:17 PM
Thanks minimoke and Yossarian

A cell phone charger consumes power as soon as it is plugged into a live power socket. These are the losses in the transformer or electronic conversion device. Typically they consume about 20mA at 230V idling. This works out to 4.6 watts per hour. Now, if the cell phone is charged for 2 hours twice a week based on 4.9V at 850mA, we use 4.165 watts, or 16.66 watts-hours per week. The annual consumption is 16.66 watts times 52 weeks, about 866 watt-hours.
Now, let’s calculate the losses for the whole year. 4.6 watts times 24 hours times 365 days, gives us 40.296 kilowatt hours. Based on 20c/kwh works out at $8.06 if we left the charger plugged in.
Let’s calculate the cost to charge the cell phone for the year if we unplug the charger each time. 4.165 watts plus losses of 4.6 watts gives 8.765 watts times 4 hours, times 52 weeks gives 1.82 kilowatt hours and at 20c/kwh gives a cost of about 36 cents.
By unplugging the charger you would save $7.70 a year.

How much power would the Pulse Smart Meter use and what would be the cost of running the Meter. i.e would it be cheaper to leave my phone charger plugged in 24/7.

Yossarian
06-06-2008, 01:31 PM
By unplugging the charger you would save $7.70 a year.

Interesting... having thought twice I'm now thinking 3 times...not sure it's worth bending down and plugging/unplugging 4 times a week (on your calcs, though for me it's probably 6 times/week i.e. 300+ times a year) for the sake of $7.70. That works out at about 4c per bend.... (or less for 6 plugs/week!)

Heke
06-06-2008, 02:32 PM
The saving of $7.70 would buy you a block of cheese. Perhaps it has something to do with the Cullen Budget, but then, Cullen would have people bending down 300 times a year for less!

minimoke
06-06-2008, 05:54 PM
The saving of $7.70 would buy you a block of cheese. Perhaps it has something to do with the Cullen Budget, but then, Cullen would have people bending down 300 times a year for less!

Just to complicate things a little I have night rates on my power so I think my saving will be a bit less - say around $4.00

Now if you bend down once and this burns two calories you’ll burn 600 calories in a year – and this is about 1 sixth of your 1kg block of cheese saved. The savings aren’t looking that great!

Add to this; it takes two litres of water to make a litre of milk, and around 10 litres of milk to make a block of cheese. If we had that 20 litres of water flowing into the lakes at the rate of 150 metres a second down our hydro canals, rather than a cows stomach we could generate 20 kilowatts of power.


So here’s Minimokes plan to save the world. Leave your battery charger plugged in so you don’t make the cash saving. This way you won’t be able to afford the block of cheese shrinking demand from Fonterra who can as a good corporate citizen put the good water to the hydro generators. This way we don’t get dairy farms polluting our water ways (and I get to go fishing again) and the coal and gas fired generators won’t need to spew carbon in the air. We do our bit for global warming, reduce the need for Emission Trading and the New Zealand is the wonderful place we all know it to be!

Pulse Utilities
23-06-2008, 04:35 PM
Announcement made 11.23 am, 23rd June 2008
New Zealand Stock Exchange

Pulse Gains Access to more than 61,000 Customers

The Directors of Pulse Utilities New Zealand Limited are delighted to announce that Pulse has secured on-going arrangements with a number of multi-tenant property developers and managers to install Pulse technology on their apartment blocks and residential subdivisions.Pulse will immediately begin installations on 2 apartment buildings with 500 tenants, and stage one of a residential subdivision with the first 100 homes. This opportunity has come about through the successful management of Pulse’s first customers.

The significance of this news is that Pulse’s five year target of 61,000 installations could now be completely derived from these property groups because they collectively manage more than this number. These arrangements reinforce Pulse’s strategy of acquiring customers in large groups. However, Pulse will likely be acquiring all its forecast 61,000 customers though property managers and developers, as opposed to a proportion from one-to-one sales, as was anticipated in the business plan. This will considerably reduce the sales costs to acquire these 61,000 customers. In addition, the Directors now believe that the target of 61,000 installations can be achieved in a much shorter time frame. This will have positive implications on the magnitude and timing of our revenues and profit. Pulse will be advising the market on updated figures in the near future.

An expanded service including electricity, and in some cases gas and water metering services will be offered to these customers. The gas and water metering services are new services Pulse will be offering off its existing technology platform. The Pulse service will remove the difficult billing process from some of the multi-tenanted property managers who currently have to manage the often contentious process of dividing one utility bill between tenants, and then billing and collecting payment. All customers are likely to receive cheaper electricity, with water and gas being passed through at cost.

Debt financing is now considered by the board to be more likely, particularly to fund meter asset acquisition and installation. Discussions have now commenced for debt funding in addition to equity. Pulse recently released to the market that it has a conditional commitment from a New Zealand lines company for $2 million and has since secured another $500,000 from a private investment fund. Both these are conditional on gaining a further $2 million in funding. The Board hopes to be able to announce the conclusion of both debt and equity funding discussions shortly.

Lizard
24-06-2008, 09:41 AM
Congratulations, Pulse! That looks like a strong kick-off.

Will watch progress with interest. :)

minimoke
24-06-2008, 10:11 AM
Pulse Gains Access to more than 61,000 Customers

Well done James. Is that a Housing NZ contract I see there? Good luck with converting the access to installations.

Financially dependant
24-06-2008, 10:37 AM
Good progress, still on my watch list!

Pulse Utilities
06-07-2008, 02:03 AM
Thank you for your kind words, the people at Pulse have been working pretty hard so it is genuinely appreciated.

The pipeline of projects is for multi tenant buildings apartments and mixed offices usually on a strata title plus we have some subdivisions coming on line.

When we spoke to Housing NZ they informed us that it is up to each of their customers to engage with a retailer for electricity. We would love to save some money for those less fortunate and have a very compassionate philosophy to customers that need a helping hand.

kind regards

James

PS I'm up late enjoying the rain, just blessing every drop that replenishes the Southern Lakes.

Steve
06-07-2008, 02:02 PM
When we spoke to Housing NZ they informed us that it is up to each of their customers to engage with a retailer for electricity.

Wouldn't it be feasible for the meters to be installed when HNZ is building new housing stock? If the meter is there, then their customers do have the choice to use it or not?

minimoke
07-07-2008, 08:51 AM
When we spoke to Housing NZ they informed us that it is up to each of their customers to engage with a retailer for electricity.
PS I'm up late enjoying the rain, just blessing every drop that replenishes the Southern Lakes.
If a person hasn’t the wherwithall to find their own house to live in I wonder if they have the ability to scour through all the power suppliers for the best deal. As houser of last resort I wonder if there is some merit in HNZ negotiating a really sharp deal with power and telecom providers for their tenants. You’ve probably got government organisations providing budgeting advice to HNZ tenants – perhaps they should also be providing some tools , like smart meters, to assist in implementing that advice.
Damn the rain - my CEN top up isn't looking like such a great buy!

minimoke
15-07-2008, 07:48 AM
It gets higher in winter. probably $130~140 ish.
My last one was $114. How can you use much more than that during summer? We have a small house, but 3 TVs, 2 PCs, XBOX, Wii.
This is of only academic interest to heat pump owners down south.

Late March to early July last year my smart meter calculated my autumn / early winter daily power costs at $6.39 – this was running a couple of oil column heaters intermittently in parts of the house.

This year I ran the heat pumps intermittently and only when required for the first couple of months but in May I was told to run my heat pumps 24/7. With a genetic disposition towards turning these things off when not needed the smart meter needed to be recoded but for the past 2 months they haven’t been turned off at all in the whole house. Power for the same four months this year is now up to $6.81 a day.

Last year I had bits of the house warmed part of the time. This year I have the whole of the house warmed all of the time. All for $0.42 (inc price increases) a day extra. A price for warmth I’m willing to pay but roll on summer when the cost drops away again!

Toddy
02-08-2008, 09:15 AM
This doesn't sound good for Pulse.

Electricity meters to get smarter
The Dominion Post | Saturday, 02 August 2008

Mecury Energy has begun introducing smart electricty meters for customers in Auckland with plans to supply the devices to more than 300,000 customers in the next three years.

Mercury Energy says its Wellington customers will receive smart meters within the next three years.

The company has begun introducing smart meters for customers in Auckland through its smart metering partner Metrix and plans to supply the devices to more than 300,000 customers in the next three years.

Smart meters record energy usage every 30 minutes, allowing customers to monitor their consumption.

They enable energy retailers to vary pricing according to fluctuations in supply and demand.

Meridian Energy has installed 68,000 smart meters in Christchurch homes through its subsidiary Arc Innovations, and will supply them to a further 67,000 customers in the region.

Meridian plans to provide the meters to its customers throughout New Zealand.

Genesis Energy says it will supply smart meters to more than 600,000 customers in the next few years.

Contact Energy will install the meters for its customers in Canterbury by next year and supply them to all its 500,000 electricity customers within five years.

Grimy
02-08-2008, 03:53 PM
This doesn't sound good for Pulse.

Electricity meters to get smarter
The Dominion Post | Saturday, 02 August 2008

Mecury Energy has begun introducing smart electricty meters for customers in Auckland with plans to supply the devices to more than 300,000 customers in the next three years.

Mercury Energy says its Wellington customers will receive smart meters within the next three years..........

.

That article was in the Herald a day or two back as well, and I wondered where this leaves Pulse. But I guess it had been factored in to their business plan, as it was always going to happen.

Toddy
04-08-2008, 07:21 PM
That article was in the Herald a day or two back as well, and I wondered where this leaves Pulse. But I guess it had been factored in to their business plan, as it was always going to happen.

Or maybe not.

SP closed at 33 cents today.

minimoke
08-08-2008, 01:39 PM
Holders will be ecstatic with the 34% improvement in SP today - now up to $0.47 Amazing what a $420 trade can do! A trader really doesn’t have to spend much on the NZX to skew a price.

nzambition
09-08-2008, 08:42 AM
im not sure that holders would be too ecstatic as long as it trades below the 1 and 2 dollar issue prices

Pulse Utilities
13-10-2008, 05:08 PM
I trust that most of you have been keeping abreast of our developments as outlined in the Annual report and the AGM presentation posted on the NZX website recently. I will be bringing this forum up to speed over the next few days.

Pulse Utilities
13-10-2008, 05:16 PM
For those that missed the AGM the minutes will be mailed out in the next few days along with an outline of our generation strategy. We have revised financial forecasts which have had a positive impact on our funding requirements. Added some new services such as water metering and are now well advanced on debt funding.

Rif-Raf
19-10-2008, 07:59 PM
No matter how smart the business model may be, can't see it doing very well until they get a clear understanding of what their value proposition is.

Heke
24-10-2008, 09:47 PM
With the Contact Energy directors fiasco and their customers voting with their feet, I wonder what Pulse is doing about it. If the smart meters are so good, Pulse is missing the opportunity to target those customers in their reach. Unless of course the business model is so superior that Contact's customers will come running to their door. But hey, if that was the case, Pulse directors can double their salaries before the next AGM.

minimoke
05-01-2009, 05:33 PM
With the Contact Energy directors fiasco and their customers voting with their feet, I wonder what Pulse is doing about it. If the smart meters are so good, Pulse is missing the opportunity to target those customers in their reach. Unless of course the business model is so superior that Contact's customers will come running to their door. But hey, if that was the case, Pulse directors can double their salaries before the next AGM.
As a customer of Contact I got a letter in the mail today saying I’m about to join the modern age of smart meters – at no cost to me. So, now I’m going to get accurate billing (no more estimates); no more pesky meter readers on my property and more detailed and up to date information about my energy usage – I can hardly wait!

Pulse Utilities
17-03-2009, 08:57 AM
Hello Alll,

I trust you have seen the media release 16 March, we are moving into new offices in prearation for a national offer to selected residential areas, small to medium business's and Dene brings a desired skill set along with lines company experience. If you are a shareholder you will be hearing from us soon :)


PULSE APPOINTS NEW CEO

Publicly listed electricity supplier Pulse Utilities NZ Ltd has announced a number of changes to its management team, including the appointment of current director Dene Biddlecombe as Chief Executive, effective from 30 March, 2009. Mr Biddlecombe, formerly CEO of NZSX listed Horizon Energy, replaces Pulse founder James Martin who remains a director on the board. Mr Martin will continue to work with Pulse on special projects.

“Dene’s appointment reflects that the company is moving from start-up mode to a period of high growth. Dene is exactly the right person to lead the company in the next phase of its history. He brings a wealth of experience in senior management roles within the public and private sectors to his new role,” Mr Martin said.

Current director, Joseph van Wijk has been appointed acting chairman to replace chairman and director Don Purdon, who has decided to step down.

“Don has achieved all that he set out to do for the company. Don was instrumental in lifting Pulse’s image and securing the company’s listing on the NZAX in November 2007. His input has been of enormous value during the critical early growth phase of the company. With the company now well positioned for growth he feels he has achieved what he set out to and is moving on to other challenges,” Mr van Wijk said.

Tauranga-based lawyer, Richard Burcher, has been appointed to the board of Pulse. Mr Burcher has a strong background in governance. He is a Notary Public, member of the Institute of Directors, and an associate of the Arbitrators and Mediators Institute of New Zealand. Mr Burcher has a particular interest in intellectual property issues.

“We are very pleased to welcome Richard to the board. His strong governance skills will be of great benefit to Pulse as we look to further build on our success,” Mr van Wijk said.

- ends -

For more information:
Christine Meads
Whole Nine Yards Ltd
P: 09 578 0786
M: 027 294 0823
E: Christine.meads@xtra.co.nz

Background: Pulse Utilities New Zealand Ltd
Pulse Utilities NZ Ltd was formed in 2004 by James Martin. A registered electricity retailer, Pulse offers consumers time-of-use electricity supply contracts. Pulse’s development of advanced meter technology has given consumers real choice. Electricity is purchased from a number of renewalble sources via the wholesale market, enabling Pulse customers to save up to 30 per cent on their electricity costs. Pulse listed on the NZAX on 26 November 2007.

Rif-Raf
17-03-2009, 11:58 AM
Powershop is an interesting concept with a lot of promise. What does this mean for Pulse? As powershop is owned by Meridian will other power companies get on board? May be perceived a a threat but perhaps a big opportunity.

Meridain are also rolling out smart meters at no cost to consumer so not sure what pulses point of difference will be?

minimoke
17-03-2009, 03:27 PM
As a customer of Contact I got a letter in the mail today saying I’m about to join the modern age of smart meters – at no cost to me. So, now I’m going to get accurate billing (no more estimates); no more pesky meter readers on my property and more detailed and up to date information about my energy usage – I can hardly wait!
Blow me down – got the new power bill and its huge! The new meter reckons I’ve used 64 more night units and 98 day units than for the same period last year. Sounds like a lot of extra power to me. I’ll have to check this out further – so much for a SMART device!

Cowl
17-03-2009, 05:12 PM
Blow me down – got the new power bill and its huge! The new meter reckons I’ve used 64 more night units and 98 day units than for the same period last year. Sounds like a lot of extra power to me. I’ll have to check this out further – so much for a SMART device!

Probably used that extra power to run the meter :D

minimoke
07-08-2009, 08:25 AM
That article was in the Herald a day or two back as well, and I wondered where this leaves Pulse. But I guess it had been factored in to their business plan, as it was always going to happen.
So, we're now a year on and PLU trading is about to be suspended if they don't get their late annual report filed by Monday. Theres only one plucky buyer who is about to drop the SP 50% at start of trading if they can hang on til then. taking the SP from 65 to 33 cents

Heke
07-08-2009, 01:57 PM
Seems they have placed their Annual Report with the NZX today. Must have put one of their Smart Meters in the boardroom and - voila - out came their annual results.

winner69
07-08-2009, 02:07 PM
and a beautiful document it is .... plenty of pictures and optimistic words and all that sort of stuff ... pity the numbers look really sad

Report must have cost a mint to produce and print ... luckt they didn't have to call a shareholders meeting to approve expenditure that might have been 5% of shareholder equity

Grimy
11-08-2009, 06:47 PM
But who is taking up the offer to become a customer?

Yossarian
12-08-2009, 09:10 AM
But who is taking up the offer to become a customer?

I forgot to read it, whoops....

pietrade
13-08-2009, 01:37 PM
But who is taking up the offer to become a customer?

I've made an application. Figure I might as well 'put my money where my mouth is' - so to say.

Steve
16-08-2009, 11:18 AM
Should I have received an annual report/offer by now?

Grimy
16-08-2009, 07:06 PM
I got my invitation/application form a couple of weeks ago.

Steve
18-08-2009, 07:07 PM
Annual report arrived in the weekend. I guess the offer must be sitting in my unopened mail pile... :o

Silverlight
09-04-2010, 10:49 AM
No one has posted on here in a while, the company just released an update:
https://www.i-search.nzx.com/blobs/NZSE0000/2010/328800/NZSE0000-117335.pdf

Looks like they are increasing customers at an exceptional rate, long term this is positive.

However reveiw of their half year report shows negative equity of 500k, NTA negative, plus a loss of millions. Does anyone use Pulse meters or have some views on this companies direction or competitive advantage.

minimoke
09-04-2010, 11:31 AM
Does anyone use Pulse meters or have some views on this companies direction or competitive advantage.
They've been on my watch list for a while but theres nothing happening that has really sparked my interest. I'm still at a bit of a loss on just what it is that they can offer which differentiates them from the others. "SMART" meters might have been a great (with reservations) idea at the peak of the Global Warming "crisis" but with this declining theres a risk that the interest in energy consevation/management will wane. Had a quick look at that report you tagged - what happend to the 61,000 customers Pulse had access to in June 08. Only 3,000 now suggest they have lost momentum and got little traction.

Perhaps the holders in Tasman Capital could rate their investment in the Pulse listing (I see Tasman has gone very quiet and astonishingly noone has tried to sell theri shares.). Pulse will remain on my watchlist but I suspect thats as far as it will go.

Grimy
28-09-2010, 06:51 PM
So, is anyone taking up their offer that arrived in the post this week?

Jay
28-09-2010, 07:25 PM
Not me this time

Took some up last time to see what happens - another at a lesser value!

Only a bit of play money after the "free" shares

pietrade
29-09-2010, 04:24 PM
ditto for me. I have Pulse supplying to a couple of rental properties but almost gave up following difficulties in getting thru to them by phone.
They have been VERY SLOW in getting the 'monthly' a/c out. Maybe it's all down to heaps of sign-ups and the inevitable teething troubles. Maybe.

whirly
01-10-2010, 11:38 PM
I'm tempted to take a small stake.

Pulse has stated it expects a maiden profit for the 2011/2012 year with an EBITDA of more than $6.5 million. It has been reported that it is signing up 350 customers per week and the Number of ICPs per retailer per NSP (http://www.electricitycommission.govt.nz/pdfs/opdev/retail/regstats/regstatspdfs/icps-per-retailer/August2010.html) for Aug 2010 has 10,403 customers. They had 6096 at the end of May. It looks like they are gaining momentum.

Retailer back in black by 2011 (http://www.stuff.co.nz/business/industries/4166719/Retailer-back-in-black-by-2011)

"Pulse, which last month got the blame for a late payment to the energy clearing house manager NZX which shut down the entire electricity payment system, revealed at its annual meeting yesterday a revised financial forecast of a $900,000 loss in earnings before interest, tax, depreciation and amortisation (ebitda) for the year to March 31, 2001. Although still negative, it is a $350,000 improvement on the previous forecast."

There is possibly a risk that the Electricity Commissions Advanced Metering Infrastructure policy could make life difficult for Pulse. Submissions have been made but I don't know when the reports due.

Pulse claim to being bullied by the bigger companies.

There have also been some dodgy dealing that has yet to be sorted out. Pulse probes ex-director's dealings (http://tvnz.co.nz/business-news/pulse-probes-ex-director-s-dealings-3769970)

So I think the good outweighs the bad but they will in my view be back for more capital in time to support the rapid growth. But hey that must be a good thing?

I would be very interested in others views on the SPP. Get in there...

Whirly

whirly
13-10-2010, 12:43 PM
I will answer these myself after a phonecall with the company this morning.

I'm tempted to take a small stake.

I am going to take a small stake.

Pulse has stated it expects a maiden profit for the 2011/2012 year with an EBITDA of more than $6.5 million. It has been reported that it is signing up 350 customers per week and the Number of ICPs per retailer per NSP (http://www.electricitycommission.govt.nz/pdfs/opdev/retail/regstats/regstatspdfs/icps-per-retailer/August2010.html) for Aug 2010 has 10,403 customers. They had 6096 at the end of May. It looks like they are gaining momentum.

Second again in September for new uptakes and now has 12,422 customers. That's around 500 new customers per week!

Retailer back in black by 2011 (http://www.stuff.co.nz/business/industries/4166719/Retailer-back-in-black-by-2011)

"Pulse, which last month got the blame for a late payment to the energy clearing house manager NZX which shut down the entire electricity payment system, revealed at its annual meeting yesterday a revised financial forecast of a $900,000 loss in earnings before interest, tax, depreciation and amortisation (ebitda) for the year to March 31, 2001. Although still negative, it is a $350,000 improvement on the previous forecast."

Pulse are on target to 61000 customers by March 2013.


There is possibly a risk that the Electricity Commissions Advanced Metering Infrastructure policy could make life difficult for Pulse. Submissions have been made but I don't know when the reports due.

From 1 October, the time it takes for consumers to switch from one retailer to another has been reduced from 23 days to between 5 and 10. The EC AMI is in fact helpful to Pulse.

Pulse claim to being bullied by the bigger companies.

There have also been some dodgy dealing that has yet to be sorted out. Pulse probes ex-director's dealings (http://tvnz.co.nz/business-news/pulse-probes-ex-director-s-dealings-3769970)
Not likely to result in a negative for shareholders.
So I think the good outweighs the bad but they will in my view be back for more capital in time to support the rapid growth. But hey that must be a good thing?
Maybe, maybe not but I'm into owning the fastest growing independent power retailer in the country.
I would be very interested in others views on the SPP. Get in there...
For Tasman Capital holders with their small-holdings of free PLU shares this is a good opportunity to build a meaningful stake at a good price. I will be doing so.
Whirly

minimoke
13-10-2010, 01:55 PM
There have also been some dodgy dealing that has yet to be sorted out. Pulse probes ex-director's dealings (http://tvnz.co.nz/business-news/pulse-probes-ex-director-s-dealings-3769970)



This wasn't the first time. Did they volunteer any information on Mr Dodson?

whirly
13-10-2010, 11:47 PM
This wasn't the first time. Did they volunteer any information on Mr Dodson?

Nope and I wasn't aware of any history.

minimoke
14-10-2010, 09:18 AM
Nope and I wasn't aware of any history.
Confusious say: "Study the past if you are to know the future" So you want to invest in a company that had some governance problems in the past; has current problems with a previous CEO, is an illiquid stock (meaning if you want to sell at a profit you can't because there are no buyers) and they at best hope for a smidge of the electricity market having perhaps seen the light with their smart meter. They think they are bing bullied by the big boys DUH! do they not watch what AIR, and others, do?. Do they really think the big felluhs are going to give them any more than a minimum amount of market share to give the pretense of a competitive market.

Its really easy to be the fast growing whatever; showing huge increase % increase in sales.etc. That is really easy to do when you start from Zero. Take the Martin Jetpack IPO(?) they only have to sell one jet pack to achieve a 100% increase in sales, 100% in customer retention, a 100000% increase in revenue etc. The test for PLU is to achieve their 61,000 customers. Then they have to retain them and more importantly they have to be doing so at a profit. They are looking for more cash - you need to know where that cash is going. Is it going to R&D or marketing or is it going to bolster CEO wages and director fees.

Have a look at PLU's depth. There are no buyers. . Noone is even prepared to throw in a low ball $0.35. PLU listed at $2.40 (or therabouts) and has never got close to that again. James Martin no longer show up on these boards. Don't you wonder why? You might ask, why is it that you have the experience and skill to pick a winner that no-one else can see

Billy Boy
14-10-2010, 10:25 AM
A question to "who ever in PLUSE"
For some time now I have been trying to install solar power pannels to run my meter backwards.
When I talk with my power coy(s) they reject the idea as unreasonable, too costly and I would
need a "B" class meter installed and they would only buy the electricity back at a greatly
reduced rate. In general they hate the idea, and of course its not new. "We have trialed that
consept and it is not economic for either party" One power coy told me.
With modern panels that can now produce 110w per pannel on a good day, could your company
look at the idea and incorperate it into your new smart meters.
I realise you would have to run them slower in the backwards mode and that is exceptable.
But if everyone had a panel or two on their roof ??? well....
Just an idea. I will be watching closely
good luck BB

whirly
14-10-2010, 06:08 PM
Minimoke, Thanks for your reply. At least you have given me something to think about. Ummm and I don't think I have any special powers for picking winners! Anybody else want to offer their thoughts. And I agree it's disappointing not to see anyone from Tasman Capital or Pulse posting here anymore. If your reading this PLU maybe you could provide some answers to Minimokes questions.

stanace
14-10-2010, 08:54 PM
I received an e-mail from Pulse on the 12th, asking me to think about further investing. Interestingly, they said " as I write the shareprice is 52c." Really??

pietrade
15-10-2010, 04:57 PM
I received an e-mail from Pulse on the 12th, asking me to think about further investing. Interestingly, they said " as I write the shareprice is 52c." Really??

Yeah - I got one too. Checked the 'depth' on the D.B site. There were no buyers and the top ask was 52 !! Hmmmmmmmmmmmmmmmmm.

whirly
15-10-2010, 05:21 PM
Well I didn't send my cheque. It makes sense to me to buy on the market if anything starts moving. The small amount I woulda bought it won't make much difference.

A bit disappointed by the response to my post though, apart from Minimoke there wasn't any discussion forthcoming while a possible float of a jetpack has the boards buzzing! I don't believe this apathy is reflective of the potential growth of Pulse and I bid them good luck.

Voltaire
15-10-2010, 05:56 PM
Pulse came in soundly at the bottom for customer satisfaction of electricity providers (48% against an average 73%) in the recent Consumer survey.

Powershop: 92% satisfaction

Felonius
19-10-2010, 01:32 PM
Thank you for your thoughts Whirly, and also Minimoke.

I have applied for a decent number of shares in this latest capital raising, at 44 cents. The offer closes today I think, or tomorrow ..

Like you Whirly I am most impressed with the growth in customer numbers, and since they still have less than 1% of the retail market I don't think the Big players will be too concerned - YET !! By March 2013, with 61,000 customers in the bag that would change, but at that level they should be very profitable & may become a takeover target.

My two biggest concerns are ;
(a). the need for more capital to meet the rapidly increasing cost of supplying power.
(b). their ability to buy power at the right price (which includes hedging).

I don't question CEO Dene Biddlecombe's commitment (he has also invested $1 million), or his leadership skills. The staff appears to be equally committed & well-chosen.

I predict excellent upside for this company and it's shareholders subject to the above concerns.

whirly
19-10-2010, 01:57 PM
Good luck Felonius, I hope to join you further down the line.

W.

minimoke
20-10-2010, 04:10 PM
I've happen to meet Dene on a personal basis and dont have a bad word to say about him. He seemed to be a straight shooter in any dealing I've had with him on that level.
.
The same is still said about Alan Hubbard. Best, I reckon, to put personality aside and look at the hard facts. If the numbers stack up, get in there. If they don't - stay away.

Felonius
20-10-2010, 08:45 PM
Yes Yankiwi, liquidity (or lack of ability to sell one's shares) is a problem I had forgotten to mention. I like to think i am a long-term holder, but if things go pear-shaped we will be stuck ..

An announcement has just come through from PULSE. The company has a new $1 million standby facility from WESTPAC. It is guaranteed by major shareholder BULLER ELECTRICITY. BULLER'S fee is 120,000 shares at 60 cents each - a price well above the existing Share Purchase Plan.

The current capital raising at 44 cents per share has raised $700,000 so far, and has just been extended until Thursday 28th October.

I will take my chances.

minimoke
03-02-2011, 08:29 AM
All quiet on this thread for a while so posters may have missed a milestone: 20,000 customers achieved in January 2011.

Share liquidity remains a major problem. Only one seller at 43 for $314 worth of shares. No buy bids and bar 6,000 crossing at .43 the other day (which I think was off market) not a lot of activity..

minimoke
27-06-2011, 02:23 PM
Wheres the Bernard Whimp Witch Hunters when you need them. A low ball offer of $0.15 offered today and accepted sends SP plummeting 60%. Buller Electricity won't be impressed seeing their new acquisition hammered in such a way.

whirly
27-06-2011, 03:04 PM
Only $110 worth though. I've filed my small holding into file 13! From what I understand BEL are getting theirs for 5c each. Is that correct and what do you think they should be worth now on open market?

minimoke
27-06-2011, 03:57 PM
Only $110 worth though. I've filed my small holding into file 13! From what I understand BEL are getting theirs for 5c each. Is that correct and what do you think they should be worth now on open market?
What they should be worth and what they are worth are two different things.
Given PLU started out as a Smart Meter company and have flagged this away that really erodes their value unless there is some residual value in the IP. Though given the numbers of smart meters around nowadays I don't think there would be a lot there.

PLU are blaming investor lack of understanding of the electricity market for their problems. Perhaps if they pointed the bone internally they might see that it is their job to make something complex sound attractive - they have failed to do this.

When a company blames their problems on having too many customers and intends to scale back operations to stem the flow of new sign-ups then I figure the writing is on the wall.

BEL must see some value - they reckon PLU can bring competition to the market. I'm reminded of Don Quixote. Best check them out to see how they are going to extract value.

whirly
27-06-2011, 05:20 PM
Thanks for your reply Minimoke. I'm very disappointed in PLU. Only months ago they did a cap raising and "...stated it expects a maiden profit for the 2011/2012 year with an EBITDA of more than $6.5 million." It may have been investors good understanding of sharemarkets not their lack of understanding of electricity markets that kept them out. Also I thought it was PLU's job to understand the electricity market and the shareholders to provide the capital. I know next to nothing about electricity markets and if I had I might not have done my dosh.
Yet another lesson for Whirly!

minimoke
28-06-2011, 06:56 AM
Yet another lesson for Whirly!
I guess the lesson plan was there on page one of this thread. Also worth a look is the tread on Tasman Capital. Promoters have no end of opportunity to take punters for their hard earned cash.

Steve
23-07-2011, 09:07 AM
How can you operate a business successfully if you don't have a system in place that requires something as simple as a basic credit check on your new customers?

Pulse-rescue-deal-up-to-shareholders (http://www.stuff.co.nz/business/5329048/Pulse-rescue-deal-up-to-shareholders)
Customer numbers rose from 4000 to 23,000 in the year to March 31, but the growth came with a 50-fold increase in bad debt provisions as it failed to carry out basic credit checks.
...
This week Pulse published its annual report, which confirmed that without the support of Buller it was likely to run out of cash within two months, and that its bad debts provision did not include some bills which are more than three months overdue.