Transpower New Zealand
 |
|
| State-owned enterprise | |
| Industry | Electricity transmission |
| Founded | 1994 |
| Headquarters | Wellington, New Zealand |
|
Key people
|
Tony Ryall, Chairman Alison Andrew, Chief Executive |
| Revenue |
 NZ$737,200,000 |
 NZ$458,000,000 |
|
| Profit |
NZ$126,300,000 |
| Total assets | NZ$4,170,600,000 |
| Total equity | NZ$1,533,500,000 |
|
Number of employees
|
661 (2011) |
| Website | transpower |
Transpower New Zealand Limited (TPNZ) is the state-owned enterprise responsible for electric power transmission in New Zealand. It performs two major functions in the New Zealand electricity market. As the owner of the National Grid it provides the infrastructure of electric power transmission that allows consumers to have access to generation from a wide range of sources, and enables competition in the wholesale electricity market; as System Operator it manages the real-time operation of the grid and the physical operation of the electricity market.
Transpower was formed as a wholly owned subsidiary of the Electricity Corporation of New Zealand (ECNZ) in 1987. In 1994 it was separated from ECNZ and corporatised to become a state-owned enterprise with its own board of directors and Ministerial shareholders, the Minister of Finance and the Minister of State-Owned Enterprises. The New Zealand Treasury's Commercial Operations group (formerly the Crown Ownership Monitoring Unit) monitors the performance of Transpower on behalf of the shareholding Ministers.
The New Zealand national grid provides the means of transporting bulk electricity from where it is generated (by companies like Meridian Energy and Mercury Energy) to cities, towns and some major industrial users like the aluminium smelter at Tiwai Point. Most of the electricity from the national grid is delivered to New Zealand's homes and businesses by electricity distribution companies like Vector and Orion. A few large industrial users are directly connected to the national grid.
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