Trustpower

Trustpower Limited
Public
Traded as NZX: TPW
Industry Energy
Founded 1993
Headquarters Tauranga, New Zealand
Services Electricity Gas Internet Telecommunications
Revenue NZD$946.9m[1]
NZD$129.4m[1]
Total assets NZD$2,329m[1]
Total equity NZD$1,435m[1]
Number of employees
 803[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.

Trustpower operates a multi-product retail business in New Zealand, including electricity, gas and telecommunications products with approximately 272,000 electricity customer connections, 37,000 gas customer connections and 100,000 telecommunications customer connections (figures accurate as at May 2018).

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.

In 2018, Trustpower and King Country Electric Power Trust (KCEPT), assumed full ownership of King Country Energy Limited (KCE).  This is the outcome of a joint venture takeover made by a wholly owned subsidiary of Trustpower and KCEPT, initiated in December 2017, that sought to acquire the balance of KCE’s ordinary shares at $5 per share. Trustpower now controls 75% of KCE, with KCEPT controlling the remaining 25%. KCE sold it's retail business to Trustpower in July 2018.

Trustpower sold its Australian hydro-power generation assets operator GSP Energy Pty Limited for A$168 million ($129.46 million), as the company focuses on its core New Zealand business.

Power stations

Trustpower power stations in New Zealand
Scheme StationTypeCapacityCommissionedLocation
Bream Baydiesel 9 MW2011Northland
Kaimai Lloyd Mandenohydro 16 MW1972 Bay of Plenty
Lower Mangapapahydro 5.6 MW1979
Ruahihihydro 20 MW1981
Kaimai 5hydro 0.3 MW1994
Matahina Matahinahydro 80 MW1967
Wheao/Flaxy Wheao / Flaxyhydro 26 MW1982
Esk Rimu hydro 2.4 MW 2013 Hawke's Bay
Toronui hydro 1.4 MW 2013
Hinemaiaia Hinemaiaia hydro 6 MW 1952 Waikato
Mangorei Mangoreihydro 4.5 MW1906Taranaki
Motukawa Motukawahydro 5 MW1924
Patea Pateahydro 31 MW1984
Cobb Cobbhydro 32 MW1944Nelson
Branch Argylehydro 11 MW1983Marlborough
Waihopai Waihopaihydro 2.4 MW1927
Arnold Arnoldhydro 3 MW1932West Coast
Kumara Kumarahydro 6.5 MW1978
Dillmanshydro 3.5 MW1978
Duffershydro 0.5 MW1980
Kaniere Kaniere Forkshydro 0.4 MW1909
McKay's Creekhydro 1.1 MW1931
Wahapo Wahapohydro 3.1 MW1960
Coleridge Coleridgehydro 39 MW1914Canterbury
Highbank Highbankhydro 28 MW1945
Montaltohydro 1.8 MW1982
Paerau/Patearoa Paerauhydro 12 MW1984Otago
Waipori Deep Streamhydro 5 MW2008
Waiporihydro 84 MW1907

See also

References

  1. 1 2 3 4 5 "Financial Statements 2018". TrustPower. 15 May 2018.
  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.
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