Meridian Energy (ASX:MEZ) has selected Kraken, a UK-based technology firm, as its core technology partner for its retail business, which serves 400,000 homes and businesses through the Meridian and Powershop brands. This partnership involves implementing a new billing platform as part of a broader technology stack designed to support Meridian’s evolving retail strategy. The transition to Kraken will replace Meridian’s subsidiary, Flux, which currently manages the billing platform. The migration, set to commence in July and conclude within a year, will leverage Kraken’s expertise in migrating large energy companies.
Meridian’s strategic reset in late 2024 aimed to align the business with changing technology and consumer needs, resulting in new product launches and an 8% customer growth since June 2024. Chief Customer Officer Lisa Hannifin emphasized the focus on reducing energy costs for customers, highlighting Kraken’s potential to unlock AI capabilities. Flux, previously focused on global growth, will now concentrate on supporting the transition to Kraken, leading to a restructuring and workforce reduction. Interim CEO Bharat Ratanpal will resume his role as Meridian Chief Information Officer on July 1, 2025, with Flux management reporting to Meridian’s Retail business as the company considers Flux’s future.
