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.
11 Feb 2019
In accordance with its accounting policies, Trustpower is undertaking a review of the carrying value of its generation assets and is in the process of obtaining an independent valuation of these assets. The early preliminary draft of this valuation indicates a potential reduction in the carrying value of these assets,...
11 Feb 2019
Trustpower Limited (Trustpower) announced today that it is offering up to NZ$75,000,000 unsecured, unsubordinated, re-setting, fixed rate bonds (Bonds) to New Zealand institutional and retail investors, with the ability to accept up to NZ$25,000,000 of oversubscriptions at Trustpower’s discretion. The Bonds have a 10 year term with a maturity date of...
21 Jan 2019
Key HighlightsQ3-19 saw 82% of all new customer acquisitions take multiple products, with an 7.3% increase year-on-year of total customers taking 2+ products to 105,000.
Total retail electricity sales volume was 2.1% below the pcp for Q3-19, with Mass Market/SME gaining 5.6%, and C&I decreasing 8.1%.
Customer churn for those who take...
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