with goal of becoming NZ's leading multi-utility retailer providing electricity, natural gas, bottled LNG and telecommunication services.
In New Zealand Trustpower owns and operates 22 hydro power stations with a total installed capacity of 516MW excluding King Country Energy generation assets. Trustpower, is headquartered in Tauranga, with approximately 750 full time equivalent employees operating a multi-product retail business, including electricity, gas and telecommunications services with approximately 280,000 electricity customer connections, 31,500 gas customer connections and 65,000 telecommunications customer connections.
From initially owning the 40MW Kaimai scheme near Tauranga, Trustpower grew through an active acquisition programme between 1999 and 2003. Trustpower successfully integrated these geographically diverse schemes into unified operational management regimes and systematic asset management programmes. Trustpower then actively invested in a renewable generation development programme which has brought the total owned hydro and wind generation to 630MW in New Zealand, as well as the 370MW Snowtown Wind Farm in South Australia.
On 18 December 2015 Trustpower announced that it was considering separating into two New Zealand incorporated listed companies, Tilt Renewables and New Trustpower via a Court approved scheme of arrangement. This proposal was approved by shareholders in September 2016 and following Court Approval the two entities listed on the NZX on 28 October 2016. Tilt holds Trustpower's Australian and New Zealand wind assets and is focused on the development, management and operation of wind farms in Australasia and grid connected solar in Australia.
15 May 2017
Trustpower lifts profit supported by strong generation performance
Demerged Net Profit after Tax of $94 million, 37% above FY16
EBITDAF of $218 million, 5% higher than FY162 (EBITDAF excluding demerger costs was $235 million or 12% higher than last year)
Underlying earnings after tax $115 million, $31 million or 36% above FY16
13 Apr 2017
Trustpower releases its operating statistics for the year ended 31 March 2017.
• Lower mass market volume per customer reflecting milder temperatures during Winter, lower irrigation demand during summer and a changing customer mix .
• 385,000 total utility accounts (up 1,000 for the quarter) including 90,000 customers with more than one...
13 Feb 2017
Trustpower’s operating statistics for the quarter ended 31 December 2016 together with prior period comparatives are provided at the end of this announcement.
In 31 October 2016, Trustpower Limited implemented its demerger whereby the Company separated into two separate companies: Trustpower Limited (formerly Bay Energy Limited, Trustpower) and Tilt Renewables Limited...
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