10 Nov 2011

Powershop named fasted growing firm in country

8:20 am on 10 November 2011

A subsidiary of publicly-owned Meridian Energy has been named as the country's fastest growing business.

Online electricity retailer Powershop emerged the winner in the Deloitte Fast 50 league of the country's most rapidly expanding firms, growing 5280% in revenue over the last three years.

The growth rate is the highest ever in the Fast 50's 11-year history.

Mobile phone firm 2degrees finished runner-up, rising 3762%.

Last year's winner, telecommunications finance firm Telecom Rental, rounded out the top three.

Deloitte says the 50 firms added $594 million to economic growth over the past three years, creating 1502 jobs.