Trustpower

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Trustpower Limited
Public
Traded as NZX: TPW
Industry Energy
Founded 1993
Headquarters Tauranga, New Zealand
Services Electricity Gas Internet Telecommunications
Revenue NZD$819.8m[1]
NZD$93.9m[1]
Total assets NZD$2,505m[1]
Total equity NZD$1,418m[1]
Number of employees
786[1]
Website www.trustpower.co.nz

Trustpower Limited is a New Zealand electricity generation and electricity retailing company, listed on the New Zealand stock exchange.

Trustpower is New Zealand's fifth largest electricity generator (in terms of MW capacity, GWh output and revenue) and the fourth largest electricity retailer (in customer numbers).

In New Zealand, Trustpower now has 29 hydro-electricity schemes, with a total of 47 power stations. In Australia, the Company has three schemes containing six generating units. In total, it has generating capacity of 532 megawatts. It generates the majority of its electricity using renewable energy sources.

Trustpower operates a multi-product retail business in New Zealand, including electricity, gas and telecommunications products with approximately 280,000 electricity customer connections, 33,000 gas customer connections and 76,000 telecommunications customer connections (figures accurate as at May 2017).

The company's ownership structure is dominated by its two major shareholders: Infratil which owns 51.0% and the Tauranga Energy Consumer Trust (TECT) which owns 26.8% and the remaining 22.2% is widely held.[2]

In 2013 it bought Energy Direct, a Wanganui electricity and gas company.[3]

In 2015, it bought 65% of King Country Energy Ltd from Nova Energy.[4] King Country Energy generates all of its electricity from renewable sources (principally hydro-electric generation) and supplies electricity to the Waitomo, King Country and Ruapehu Districts. King Country Energy was incorporated in 1991.

On 18 December 2015, Trustpower announced that it was considering a process to demerge its wind assets in Australia and New Zealand, separating into two New Zealand incorporated listed companies by way of a Court-approved scheme of arrangement. The Demerger, effective on 31 October 2016, resulted in the creation of two new companies, Trustpower and Tilt Renewables. The demerger enables each business to focus on their respective areas of specialisation. Tilt Renewables can expand on Trustpower’s Australian wind development and generation business; and Trustpower can continue to expand on its current hydro electricity initiatives and multi-product retail strategy in New Zealand.

Power stations[edit]

Trustpower power stations in New Zealand
Scheme Station Type Capacity Commissioned Location
Bream Bay diesel 9 MW 2011 Northland
Kaimai Lloyd Mandeno hydro 16 MW 1972 Bay of Plenty
Lower Mangapapa hydro 5.6 MW 1979
Ruahihi hydro 20 MW 1981
Kaimai 5 hydro 0.3 MW 1994
Matahina Matahina hydro 80 MW 1967
Wheao/Flaxy Wheao / Flaxy hydro 26 MW 1982
Esk Rimu hydro 2.4 MW 2013 Hawke's Bay
Toronui hydro 1.4 MW 2013
Hinemaiaia Hinemaiaia hydro 6 MW 1952 Waikato
Mangorei Mangorei hydro 4.5 MW 1906 Taranaki
Motukawa Motukawa hydro 5 MW 1924
Patea Patea hydro 31 MW 1984
Cobb Cobb hydro 32 MW 1944 Nelson
Branch Argyle hydro 11 MW 1983 Marlborough
Waihopai Waihopai hydro 2.4 MW 1927
Arnold Arnold hydro 3 MW 1932 West Coast
Kumara Kumara hydro 6.5 MW 1978
Dillmans hydro 3.5 MW 1978
Duffers hydro 0.5 MW 1980
Kaniere Kaniere Forks hydro 0.4 MW 1909
McKay's Creek hydro 1.1 MW 1931
Wahapo Wahapo hydro 3.1 MW 1960
Coleridge Coleridge hydro 39 MW 1914 Canterbury
Highbank Highbank hydro 28 MW 1945
Montalto hydro 1.8 MW 1982
Paerau/Patearoa Paerau hydro 12 MW 1984 Otago
Waipori Deep Stream hydro 5 MW 2008
Waipori hydro 84 MW 1907
Trustpower power stations in Australia
Station Type Capacity Commissioned Location
Keepit hydro 7 MW 1960 New South Wales
Burrinjuck hydro 27 MW 1928
Hume hydro 58 MW 1957

See also[edit]

References[edit]

  1. ^ a b c d e "Financial Statements 2016" (PDF). TrustPower. 15 May 2016. 
  2. ^ "Major shareholders". TrustPower. Retrieved 6 July 2017. 
  3. ^ "Contract to purchase Energy Direct NZ now unconditional". NZX. 14 June 2013. Retrieved 15 March 2014. 
  4. ^ "Trustpower becomes new majority shareholder in KCE – changes to KCE board". King Country Energy. 7 December 2015. 

External links[edit]