King Country Energy
 |
|
| Public | |
| Traded as | NZX: TPW |
| Industry | Energy |
| Founded | 1993 |
| Headquarters | Tauranga, New Zealand |
| Services | Electricity Gas Internet Telecommunications |
| Revenue | NZD$819.8m |
| NZD$93.9m | |
| Total assets | NZD$2,505m |
| Total equity | NZD$1,418m |
|
Number of employees
|
786 |
| Website | www |
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.
In 2013 it bought Energy Direct, a Wanganui electricity and gas company.
In 2015, it bought 65% of King Country Energy Ltd from Nova Energy. 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.
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