lol they keep getting caught out by the wild swings in oil between 66 - 70 ... will have to keep ramping petrol prices higher to make back the losses
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Part of Z's "What is Next" strategy
Z Energy's $46m power play for Flick Electric The fuel company is diversifying into electricity as it faces a ''low carbon future''.
I did end up buying 2400 shares of Z at $7.09 - I calculated that the dividend will pay for my scooter petrol over a year. I could have just banked the money and paid for my fuel out of that but that's not as much fun. I also have NZ Refining as well. Oil still has a huge future and with ICE innovations like Mazda's skyactivx, the internal combustion engine will still be dominant for the next 30 years at least. To celebrate my purchase I went to Z and filled up my Yamaha 150, it cost me around $16. I get around 35 km/l. I love that bike. I also bought two milky bars for $3.50.
https://www.stuff.co.nz/motoring/roa...ctric-vehicles
$46m for Flick, is that a good price? I don't know. Flick hasn't managed to grow their customer base much at all over the last 18 months from what I can see.
I got it from the Electricity Authority's retail reports.
https://www.emi.ea.govt.nz/Retail/Re..._MST_C?_si=v|3
By the end of May 2017 Flick had 23,320 customers. One of their closest competitors, Electric Kiwi (which got into business a year after Flick), had just 11,214 customers.
By the end of August 2018 Flick had 24,353 customers. Electric Kiwi has now got 28,241 customers.
Hmmm, I don't know. By the time EVs reach any significant number (let's say 10 per cent of the light vehicle fleet by 2040), 1000 km range EVs will be common place. So not a lot of EV owners will be pulling into Z service stations to get a quick charge.
PS EVs are 0.30% of the comparable light vehicle fleet now in NZ, so 10 per cent by 2040 might be pushing it. According to the Economist 2018 is the tipping point for EVs! *puts pinky finger in mouth* "Riiightttt".
https://www.youtube.com/watch?v=zGFb6CcG0DA
I guess you're right. It's like how BP markets itself as Beyond Petroleum. Sad! Oil, and the amazing amount of energy it unleashes, underpins our modern day prosperity.
Fortunately there's so much oil out there and we're almost 20 years away from peak oil demand! For the first time in human history oil demand reached 100m bbl a day recently :)
I regret selling my BP shares. If I had kept them; my tiny Z holding and my larger NZ Refining holding would have meant that every Boy Racer that screams past my house would have indirectly been enriching me (assuming they paid for the petrol and didn't use Gull or some other outfit).