HomeInfratil News2009TrustPower Results for the Three Months Ending 30 June 2009

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TrustPower Results for the Three Months Ending 30 June 2009

30 Jul 2009

TrustPower’s operating statistics for the quarter ending 30 June 2009 together with prior period comparatives are provided at the end of this announcement.

The first quarter of the 2010 financial year has seen lower than average wholesale electricity prices due to above average hydro storage levels in the South Island.

TrustPower’s New Zealand generation production was 488 GWh in the first quarter, 8 per cent above same period last year but around 14 per cent below expected long term average production due to both lower North Island hydro generation and wind generation from the Tararua Wind Farm.

New Zealand hydro storage levels have fallen close to long term average during July and wholesale spot electricity prices have begun to firm as a result.

The Snowtown Wind Farm produced 79 GWh during the first quarter which was around 13 per cent below long term expectation.

Mass market customer sales were up 2.7 per cent for the first quarter compared with prior period mainly attributable to an increase of 6,000 customers.

Time of Use sales were down 22 per cent due to the restructuring of a major industrial contract in June 2008, however, the impact on the Company’s earnings is not material.

While it is too early to make predictions with respect to TrustPower’s full year trading result the Directors are satisfied with the Company’s year-to-date trading performance despite lower than expected generation production during the first quarter.
BJ HARKER
CHAIRMAN
  3 Months 3 Months 12 Months
Operating Statistics June 2009 June 2008 March 2009
Electricity customer numbers (000's) 228 222 227
Telecommunication services provided (000's) 30 28 30
       
Mass market sales (GWh) 543
531 2,007
Time of use sales (GWh) 512
658
2,025
Total customer sales (GWh) 1,055 1,189 4,032
Weighted average spot price of electricity purchased ($/MWh) 50
245 120
       
North Island hydro generation production (GWh) 130
146 750
South Island hydro generation production (GWh) 233
189
819
Total hydro generation production (GWh) 362
335
1,568
Wind generation production (GWh) 125
115
558
Total New Zealand generation production (GWh) 488
450
2,127
Weighted average spot price of electricity generated ($/MWh) 43 258 112
       
Australian wind production GWh 79
12
254
       
Resource consent non-compliance events 2
1
5
Staff numbers (full time equivalents) 403 389 394
Trustpower Wellington Airport Infratil Property Australian Social Infrastructure Partners CDC Data Centres RetireAustralia Vodafone New Zealand Tilt Renewables Longroad