Genesis Power
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| Type | State-owned enterprise |
|---|---|
| Industry | Energy |
| Predecessor(s) | Electricity Corporation of New Zealand |
| Founded | 1999 |
| Headquarters | Auckland, New Zealand |
| Key people | Dame Jenny Shipley, Chairman Albert Brantley, Chief Executive |
| Services | Electricity, natural gas, LPG |
| Revenue |  NZ$1,895,000,000 (2009-10)[1] |
| Operating income |  NZ$132,000,000 (2009-10)[1] |
| Profit | NZ$69,000,000 (2009-10)[1] |
| Total assets | NZ$2,532,000,000 (2009-10)[1] |
| Total equity | NZ$1,445,000,000 (2009-10)[1] |
| Parent | New Zealand Government |
| Website | genesisenergy.co.nz |
Genesis Power Limited (trading as Genesis Energy) is a New Zealand state-owned electricity generation and electricity, natural gas and LPG retailing company. It was formed as part of the 1998-99 reform of the New Zealand electricity sector, taking generation from the breakup of the Electricity Corporation of New Zealand (ECNZ) and taking retail customers from three local power boards in the Lower North Island.
Genesis is the largest electricity and natural gas retailer in New Zealand, having 27 percent and 42 percent of the market share in 2009 respectively. In 2008, Genesis produced 22% of New Zealand's electricity,[2] and is the third largest electricity generating company in New Zealand, in terms of MW capacity, GWh generation and revenue (see comparison table at New Zealand electricity market).
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[edit] History
Genesis began business on 1 April 1999, after the reform of the New Zealand electricity market and the breakup of the Electricity Corporation of New Zealand (ECNZ). It took over the Huntly Power Station, Tongariro Power Scheme and Waikaremoana Hydro Scheme from the ECNZ, and the Hau Nui Wind Farm and the Kourarau Hydro Scheme from Wairarapa Electricity. It also inherited the retail arms of Powerco, CentralPower and Wairarapa Electricity, while Powerco and CentralPower concentrated on electricity distribution (the distribution arm of Wairarapa Electricity merged with Powerco on the same day).
During the period 2000 to 2002, Genesis Energy purchased several electricity and gas retailing entities, following changes to laws governing the electricity industry. These included electricity retail businesses of Todd Energy, and electricity and gas customers from NGC (now Vector Limited) and Energy Online.
[edit] Power stations
Genesis owns and operates hydroelectic generating stations on the Tongariro Power Scheme, namely Rangipo (120 MW) and Tokaanu (240 MW) and the Tuai, Kaitawa and Piripaua stations on Lake Waikaremoana (142 MW) as well as a coal thermal plant (1000 MW) on the Waikato River at Huntly power station. The Huntly also has a 48MW open cycle gas turbine unit, an LM6000 unit known as P40, commissioned in 2004. The company also has a windfarm and interests in small hydro and cogeneration schemes.
Genesis Energy's 385 MW combined cycle gas turbine project at Huntly was launched on 21 February 2005 by the Prime Minister, the Rt Hon Helen Clark. This NZ$520 million project is more commonly known as Huntly e3p, and was commissioned in June 2007.
On 1 June 2011, Genesis Energy acquired Tekapo A and B hydroelectric power stations from Meridian Energy.[3]
| Name | Fuel, type | Location | Commissioned | Installed capacity (MW) |
Annual average generation (GWh) |
|---|---|---|---|---|---|
| Hau Nui | Wind | south-east of Martinborough, Wellington | 1996 | 8.45 | 22 |
| Huntly Units 1-4 | Coal/gas, steam turbine | Huntly, Waikato | 1983 | 1000 | 5695 |
| Huntly e3p (Unit 5) | Gas, combined-cycle turbine | Huntly, Waikato | 2007 | 400 | 2410 |
| Huntly P40 (Unit 6) | Gas, open-cycle turbine | Huntly, Waikato | June 2004 | 50 | 335 |
| Kaitawa | Hydroelectric | Lake Waikaremoana, Hawke's Bay | 1948 | 36 | 91 |
| Kinleith | Wood waste/gas, cogeneration | Kinleith, Waikato | 1998 | 28 | 250 |
| Kourarau | Hydroelectric | east of Carterton, Wellington | 1923 | 1.1 | 2 |
| Piripaua | Hydroelectric | Lake Waikaremoana, Hawke's Bay | 1943 | 42 | 133 |
| Tekapo A | Hydroelectric | Lake Tekapo | 1955 | 25 | 160 |
| Tekapo B | Hydroelectric | Lake Pukaki | 1977 | 160 | 800 |
| Rangipo | Hydroelectric | south of Turangi, Waikato Region | 1983 | 120 | 580 |
| Tokaanu | Hydroelectric | Tokaanu, Waikato Region | 1973 | 240 | 763 |
| Tuai | Hydroelectric | Lake Waikaremoana, Hawke's Bay | 1929 | 60 | 218 |
| Total | 2,171 | 11,459 |
[edit] Future generation developments
[edit] Awhitu
In 2005, Genesis was granted resource consent to build an 18-turbine 25 MW wind farm on the Awhitu Peninsula, near Waiuku. The farm is currently on hold while Genesis waits for market conditions to improve following the late 2000s recession.
[edit] Castle Hill
Genesis has applied for resource consents for a wind farm at Castle Hill, 20 km north-east of Masterton in the northern Wairarapa. It is planning up to 286 turbines over a 30 km2 (12 sq mi) area, with a total installed capacity of up to 860 MW and potentially generating over 2000 GWh per year.[5][6]
[edit] Kourarau
In January 2011, Genesis Energy sold the 1.1 MW Kourarau Power Scheme, located east of Carterton, to the Tararua Foundation, a charitable trust managed by the Masterton-based Trust House community enterprise. Genesis inherited the two-station scheme in April 1999 on its acquisition of the generation and retail base of the former Wairarapa Electric Power Board.[7][8]
It is unknown if Genesis will continue to operate the station on behalf of the Tararua Foundation.
[edit] Rodney
Genesis is developing the 480 MW Rodney Power Station, a gas fired combined cycle power station midway between Helensville and Kaukapakapa.
[edit] Slopedown wind farm
In 2010, Genesis purchased the Slopedown wind from Wind Prospect CWP Ltd. It is located 15 km east of Wyndham. Genesis has not yet applied for resource consents[9] and has stated it intends to progress the project in forth-coming months.[10]
[edit] Tekapo A and B
In 2009, the Fifth National Government recommended in its ministerial review of the electricity sector to transfer the ownership and operations of some power stations between Genesis Energy and Meridian Energy in order to increase retailer competition in both islands and to give Genesis a South Island generating base. After consultation, it was decided that Genesis would receive the Tekapo A and Tekapo B hydroelectric power stations from Meridian, and Meridian would receive the Whirinaki Power Station from the government (the latter of which will now not take place). The transfer of Tekapo A and B is expected to be completed in 2011.
Tekapo A uses water from Lake Tekapo to turn its single Kaplan turbine, generating 25 MW of electricity. Water then travels along a 26-kilometre canal to the Tekapo B shore on the eastern shore of Lake Pukaki. Tekapo B has two turbines generating 160 MW, and deposits water into Lake Pukaki to be stored for the six hydro stations downstream. In total, the scheme generates on average 960 GWh of electricity per year.[4]
[edit] Other developments
- Genesis is a founding member of Awatea, the New Zealand marine energy association.
- The Gasbridge LNG project is a 50:50 joint venture between Genesis and Contact Energy.
[edit] Subsidiaries
[edit] Infogen
Genesis Energy retailed internet services to its customers through its Infogen service. The service was outsourced and provided by Orcon, until it was purchased by Orcon in 2009.[11]
[edit] See also
[edit] References
- ^ a b c d e "Financial Performance - year ending 30 June 2010". Genesis Power Limited. https://www.genesisenergy.co.nz/annualreport/financial-performance.html. Retrieved 2011-01-25.
- ^ "Energy Data File". MED. July 2009. http://www.med.govt.nz/templates/MultipageDocumentTOC____41143.aspx.
- ^ "Genesis Energy set to acquire Meridian Energy hydro plants". Power-Gen Worldwide (PennWell Corporation). 2011-05-16. http://www.powergenworldwide.com/index/display/articledisplay/2543243669/articles/hrhrw/News-2/2011/05/genesis-energy_set.html. Retrieved 2011-06-04.
- ^ a b "List of Generating Stations November 2010 - New Zealand Electricity Authority". http://www.ea.govt.nz/document/11750/download/industry/modelling/long-term-generation-development/list-of-generation-projects/. Retrieved 2011-01-25.
- ^ "Genesis planning massive windfarm". NZ Herald. 30 August 2011. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10748389.
- ^ "Project Description Castle Hill Wind Farm - Genesis Energy". http://www.genesisenergy.co.nz/shadomx/apps/fms/fmsdownload.cfm?file_uuid=23006788-5056-AC66-4CAD-D21C35D4EE93&siteName=genesis. Retrieved 9 July 2011.
- ^ Dickson, Walt (26 January 2011). "Trust buys Kourarau scheme". Wairarapa News. http://www.stuff.co.nz/dominion-post/news/local-papers/wairarapa-news/4582124/Trust-House-buys-Kourarau-Power-Scheme. Retrieved 27 January 2011.
- ^ "Genesis Energy sells small hydro scheme to local Trust". Genesis Power Limited. 27 January 2011. http://www.genesisenergy.co.nz/about-us/news/genesis-energy-sells-small-hydro-scheme-to-local-trust.cfm. Retrieved 30 January 2011.
- ^ Dixon, Alana (15 April 2011). "Slopedown wind farm not a priority: Genesis". Southland Times. http://www.stuff.co.nz/southland-times/news/4890683/.
- ^ "Slopedown Wind Farm". Genesis Energy. http://genesisenergy.co.nz/genesis/index.cfm?296D438D-C09F-4299-6D63-1BC1CD4F2818. Retrieved 21 May 2011.
- ^ Keall, Chris (14 August 2009). "Orcon acquires two ISPs, making it our fourth largest ISP". National Business Review. http://www.nbr.co.nz/article/orcon-acquires-two-isps-making-it-our-fourth-largest-isp-107486.
[edit] External links
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