1915 - After two years of construction, Tauranga's first power station begins generation. It operates for 83 years, closing in 1998.
1920s - Ten percent of Tauranga homes have electric ovens; meanwhile there are no electric ovens in Auckland and very few in Christchurch and Dunedin.
1923 - The first Tauranga Electric Power Board is elected to serve the greater Tauranga area.
1979 - Tauranga's power generation is boosted with the opening of Maungapapa Station.
1981 - Tauranga’s generation is increased again, with the opening of Ruahihi Station.
1980-1990 - New Zealand sees substantial reform in the electricity market.
1990s - New Zealand sees de-regulation in the telecommunications sector, enabling price competition.
1993-1994 - Tauranga Electric Power Board becomes Trustpower and is listed on the New Zealand Stock Exchange.
The company serves 40,000 customers and half-owns the Kaimai Power Scheme.
Te Maunga offices open, bringing most of the company onto a single site. An electricity centre opens in central Tauranga to serve customers directly.
Infratil Limited becomes a major shareholder in Trustpower.
Trustpower purchases 67 percent of Rotorua Electricity Limited.
The first Trustpower Community Awards are held with the Western Bay of Plenty District Council.
1995 - Trustpower purchases Taupo Electricity Limited and Taupo Generation Limited.
Trustpower now has 89,000 customers.
The company is New Zealand’s fourth largest power company and third largest power generator.
1996 - A competitive wholesale energy market is introduced to New Zealand.
Trustpower purchases Rotorua Electricity Limited in full.
Trustpower’s customer call centre opens and soon records world-class levels of customer satisfaction.
1997 - Trustpower merges with Tauranga Electricity Limited and Kaimai Hydropower Limited, bringing 5,000 new customers and the Kaimai Hydropower Scheme to Trustpower.
Trustpower launches the Friends loyalty programme, which now enables 80 percent of all our customers to save money on power bills.
1998 - Under electricity reforms, power boards must choose how they’ll be managed.
Trustpower sells its lines network and invests in the retail business and generation assets of eight power boards.
In six months, Trustpower grows from 90,000 customers to over 200,000.
1999 - Trustpower purchases Coleridge, Matahina and Highbank Stations from ECNZ.
Trustpower is New Zealand’s fourth largest generation and retail energy company, with over 218,000 customers.
2000s - The early 2000s see Trustpower introduce internet services, such as eBill, which is available through NZ Post and Power Bill Online.
The first Trustpower National Community Awards are presented.
2001 - New Zealand faces an electricity crisis with winter drought conditions and the lowest lake levels in 71 years.
Trustpower now has 266,000 customers.
2004 - The Trustpower Dunedin Lend A Hand Foundation begins, initiating our long commitment to Lend A Hand Foundations.
Trustpower and TECT announce a joint sponsorship of the Bay of Plenty rescue helicopter. This sponsorship continues today.
2006 - Trustpower is named top performing NZX (New Zealand Stock Exchange) company for the 10 years to 2006.
2007 - Trustpower launches subsidiary Kinect, offering customers internet and phone services in addition to power.
Trustpower purchases South Island business CallSouth, which has 16,000 customers receiving fixed line, tolls, internet and broadband services.
2008 - New Zealand faces the worst recorded low rainfall winter in hydro history.
Stage one of Trustpower’s Snowtown Wind Farm in South Australia opens and is one of the world’s best performing wind farms. Stage two is due for completion in 2014.
2009 - The first Trustpower Youth Community Spirit Award is presented.
2010 - Trustpower wins the Energy Retailer of the Year Award at the Deloitte Energy Excellence Awards.
Trustpower wins the prestigious Hewitt, Fortune, RBL Group Top Companies for Leaders Award - Asia Pacific Region.
2011 - Stage one of a 5MW pumping capacity at Highbank Power Station is completed, enabling water to be pumped from the Rakaia River into the Rakaia Diversion Race. This will help Canterbury farms to remain productive in dry months with forecasted benefits of $200 to $300 million per year.
2012 - Trustpower starts to offer Ultra Fast Broadband (UFB) over New Zealand’s rapidly expanding fibre network. The first UFB customer is connected midyear.
2013 - Trustpower purchases Energy Direct NZ, which provides gas and electricity services to customers in the Manawatu and Taranaki regions and throughout New Zealand.
Trustpower rebrands subsidiary Kinect to Trustpower Phone & Internet.
Trustpower launches the new brand and starts offering customers reticulated (piped) and bottled gas.
2014 - July 2014 saw Trustpower acquire the assets of Green State Power in New South Wales. This added 3 hydro schemes and 2 wind farms to Trustpower’s generation portfolio.
2015 - In December 2015 Trustpower acquired a controlling stake in King Country Energy Limited, with this increasing to 65% by February 2016.
2016 - The Trustpower Group underwent a demerger on 31 October 2016 which separated the Trustpower Group into two new entities - “new” Trustpower (formerly Bay Energy Ltd) and Tilt Renewables Limited. The reorganisation was accomplished by allocating assets, liabilities and contracts existing under the Group between these two entities. Tilt Renewables took ownership of all operational wind assets and the wind and solar development pipeline; and Trustpower retained all hydro-electricity generation assets and Trustpower’s multi-product retail business, which involves the supply of electricity, gas and telecommunications services.
2018 - Trustpower and King Country Electric Power Trust (KCEPT), assumed full ownership of King Country Energy Limited (KCE). This is the outcome of a joint venture takeover made by a wholly-owned subsidiary of Trustpower and KCEPT, initiated in December 2017, that sought to acquire the balance of KCE’s ordinary shares at $5 per share. Trustpower now controls 75% of KCE, with KCEPT controlling the remaining 25%. The parties have initiated the sale of KCE’s retail business to Trustpower.
Trustpower sold its Australian hydro-power generation assets operator GSP Energy Pty Limited for A$168 million ($129.46 million), as the company focuses on its core New Zealand business.
Trustpower has over 700 full time equivalent employees working throughout New Zealand.
- Power: We supply electricity to approximately 270,000 customers nationwide.
- Generation: In New Zealand, Trustpower now has 29 hydro-electricity schemes, with a total of 47 power stations.
- Phone and Internet: We have approximately 91,000 telecommunications customer connections.
- Irrigation: Our partnerships with Barrhill Chertsey Irrigation and Central Plains Water, will supply up to 50 million cubic metres of water with the potential to irrigate 40,000 hectares.