Powerco
Powerco is the second-largest gas and electricity company based in New Zealand.[1] The company is 58% owned by QIC Limited and 42% owned by Brookfield Infrastructure Partners.[2]
Powerco arose from the energy reforms in New Zealand in the 1990s. It can trace its history back to a number of local power boards and gas companies that operated throughout the North Island. It currently (as of May 2011) has nearly 420,000 home and business connections in the Coromandel, Western Bay of Planty, Hauraki Plains, North-East and South Waikato, Taranaki, Whanganui, Rangitikei, Manawatu and Wairarapa. The gas network includes Taranaki, Manawatu, Horowhenua, Wellington and Hawkes Bay. [1]
Key dates
- April 1993 - New Plymouth Energy (the electricity division of the New Plymouth District Council) merges with Taranaki Electricity (former Taranaki Electric Power Board) to become Taranaki Energy Limited. [3]
- 1994 - Taranaki Energy acquired the Hawera Gas Company. [3]
- October 1995 - Taranaki Energy Limited merges with Wanganui-based Powerco (the former Wanganui Electric Power Board) to become PowerCo Limited. [3]
- September 1997 - Powerco acquires Hawera based Egmont Electricity. [3]
- April 1998 - Government pass Electricity Industry Reform Act. PowerCo decided to become a "network business" (or lines company), and the following changes are made:
- Electricity Retail Business (customer base) sold to Genesis Power
- Gas Retail Business sold to Natural Gas Corporation
- Natural Gas Corporation's Taranaki gas networks sold to Powerco
- Powerco's five hydro power stations sold to TrustPower
- Powerco purchases Wairarapa Electricity's network business (formerly part of the Wairarapa Electric Power Board)
- August 2000 - Powerco merged with CentralPower (itself formed by the merger of CentralPower (for former Manawatu-Oroua Power Board) and ElectroPower, the former electricity division of Palmerston North City Council). [4]
- June 2001 - Powerco purchases the Hutt Valley and Porirua gas networks from AGL. [5]
- February 2002 - Powerco purchases the Electricity Assets of United Networks Limited in Tauranga, Eastern and Southern Waikato, Thames and Coromandel, plus gas networks in Wellington, Horowhenua, Manawatu and Hawke’s Bay. [6]
- 2004 - Powerco purchased Siemens Energy Services' Tauranga based contracting division
- November 2005 - Powerco sold its New Zealand field services contracting business to Tenix Alliance
- 2008 - Divestment of Powerco Australia Group (Tasmania gas distribution) to Babcock & Brown Infrastructure
References
- ^ a b c "Our Business". Powerco. 19 August 2011. http://www.powerco.co.nz/About-Us/Our-Business/. Retrieved 20 August 2011.
- ^ "Our People". Powerco. 28 July 2011. http://www.powerco.co.nz/About-Us/Our-People/.
- ^ a b c d http://web.archive.org/web/20010511053541/www.powerco.co.nz/about/story.htm
- ^ http://web.archive.org/web/20010511053541/www.powerco.co.nz/about/story.htm
- ^ http://web.archive.org/web/20030227164137/www.powerco.co.nz/0,2480,FF.htm
- ^ http://web.archive.org/web/20030413170629/www.powerco.co.nz/0,3070,FF.htm
External links