Meridian defends special dividends over buybacks

Article – BusinessDesk

Nov. 6 (BusinessDesk) – Meridian Energy will review its decision to return capital to shareholders as special dividends carrying no imputation credits after feedback from some shareholders who would prefer a share buyback scheme instead. Read more »

Office of the Electricity and Gas Complaints Commissioner

Press Release – Electricity and Gas Complaints Commission

The Office of the Electricity and Gas Complaints Commissioner has won the small business category in the IBM Kenexa Best Workplaces Awards 2015, announced in Auckland last night. Read more »

MRP flags Chilean geothermal costs, keeps guidance unchanged

Article – BusinessDesk

Nov. 5 (BusinessDesk) – Electricity generator and retailer MightyRiverPower has signalled it may face additional costs associated with its Chilean geothermal assets, for which it has failed to find a buyer and may require spending on site remediation, … Read more »

Top Energy pays out $5.9m to Far North power customers

Press Release – Top Energy

Electricity account holders in the Far North will have a Top Energy lines charge discount credited directly to their next power bill. The payment will appear as a one-off credit on the bills that all power consumers in the Far North receive from … Read more »

ENA looks forward to pricing progress

Press Release – Electricity Networks Association

The organisation representing New Zealands electricity network companies has welcomed a regulators analysis of distribution pricing, and looks forward to giving feedback. Read more »

Top Energy: “Look up, look out this summer”

Press Release – Top Energy

Far North power company Top Energy is urging people to keep an eye on local power lines and report any branches, bark or other items caught in them. Not only can these damage equipment and kill people but they also pose a significant fire risk, particularly … Read more »

Trustpower offers ‘fair price’ for King Country Energy

Article – BusinessDesk

Nov. 3 (BusinessDesk) – Trustpower has offered a “fair price” in its $126.6 million takeover of King Country Energy, a bolt-on acquisition that will lift the utility company’s customer base by about 7 percent and adding significant electricity … Read more »

Ordinary power consumers subsidising solar power pioneers

Article – BusinessDesk

Nov. 3 (BusinessDesk) – Electricity consumers are subsidising the tiny proportion of people who have solar electricity generation on their rooftops because of the outdated way that local electricity network monopolies charge for the use of their … Read more »

Trustpower launches $126.6 mln takeover bid for King Country

Article – BusinessDesk

Nov. 3 (BusinessDesk) – Trustpower, the utility company controlled by Infratil, is mounting a $126.6 million takeover bid for King Country Energy, having entered into a lock-up arrangement with Todd Corp’s Nova Energy for 54 percent of the central … Read more »

Demand shoots up again for final

Press Release – Vector Limited

There was a massive increase in electricity demand during Sunday mornings big All Blacks final against Australia. There was a large jump as people switched on to watch the match and an 80 MW jump at halftime. This is equivalent to a town the … Read more »

Trustpower Limited Half Year Result

Press Release – TrustPower

Trustpowers consolidated profit after tax was $59.7 million for the period, representing a decrease of 33% compared with $89.8 million for the same period last year. Last year a oneoff gain of $25 million was included in profit relating to the acquisition … Read more »

Trustpower announces flat first-half earnings

Article – BusinessDesk

Oct. 30 (BusinessDesk) – Tauranga-based utility Trustpower announced flat earnings for the first half of the year on an underlying profit after tax basis, reporting a 1 percent uplift on the same period last year at $68.3 million. Read more »

NZ Electric Rubbish Truck Shows the Way

Press Release – ZEV

On the road to sustainable transport, Greater Wellington Regional Councillor Paul Bruce, got behind the wheel of New Zealand’s battery electric rubbish truck. Read more »

AECT trustees to be scrutinized over poor Vector results

Press Release – Auckland Energy Consumer Trust

The five incumbent Auckland Energy Consumer Trust (AECT) Trustees will be held to account and asked to front up about their controversial performance at the Trusts AGM this evening (Thursday 29 Oct) at 7pm, just 22 hours before voting closes for … Read more »

Northland continues to lead electric vehicle sector

Press Release – Northpower

Northland is pushing on as New Zealands electric vehicle capital with the launch of a fast charge station at Kaiwaka on Friday, October 30. Read more »

Understanding the rules about electrical work

Press Release – Ministry of Business Innovation and Employment

A new consumer awareness campaign by the Electrical Workers Registration Board (EWRB) has begun and aims to encourage homeowners to think a little more closely about electrical work being carried out in their homes. Read more »

Commission prosecutes business over Transforma Ladders

Press Release – Commerce Commission

Brand Developers Limited (BDL) has been fined $153,000 in Auckland District Court for charges relating to wrongly claiming that its Transforma ladders had a certified load rating of 180kg and for selling ladders in breach of an Unsafe Goods Notice … Read more »

Think deep, think about what’s under your feet

Press Release – Top Energy

Far North power company Top Energy is urging people who are building, digging, trenching, fencing or undertaking engineering works this summer to consider the possibility of underground power cables crossing their work sites. Read more »

Buller Electricity ends lock-up deals for Pulse takeover

Article – BusinessDesk

Oct. 27 (BusinessDesk) – Buller Electricity, the West Coast-based lines company, has discontinued lock-up agreements with Pulse Energy security holders ahead of a potential takeover bid, saying they should be able to read the independent adviser’s … Read more »

Election on target for record low turnout

Press Release – Auckland Energy Consumer Trust

Only 7.3% of eligible voters have returned voting papers in Auckland Energy Consumer Trust (AECT) election compared with 13.25% at the same time in the last election. With only 2 more days for the approximately 320,000 eligible voters to return postal … Read more »

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