Trustpower generates a large amount of New Zealand’s electricity — powering numerous homes and businesses nationwide. We have a strong focus on sustainable generation using hydroelectric power stations. We are continually seeking to expand our generation network, as well as make efficiencies, and minimise environmental impacts. See here for more about our generation portfolio.
In addition, we have a number of generation projects in various stages of planning and development. Linked to our hydroelectric assets, we also have a number of irrigation projects in planning, development and operation. See here for more about our irrigation portfolio.
Our retail proposition is based on excellent customer service and continual innovation. In 2018, we supplied around 270,000 electricity connections, 91,000 telecommunications connections, and 38,000 gas connections. Around 102,000 of our customers currently receive two or more services from us. Our customers represent homes and businesses nationwide.
Following the Government’s 1993 restructuring of the New Zealand electricity sector, Trustpower Limited was formed and we began developing our generation and retailing business. In 1999, further market reforms required us to choose between generation/retailing and owning a distribution network. The decision was made to focus on generation/retailing and exit distribution.
Trustpower has around 313 million shares on issue on the New Zealand Stock Exchange (NZX). We have two cornerstone shareholders, Infratil Limited and Tauranga Energy Consumer Trust, plus over 12,000 small parcel shareholders and 124,000 bond holders.
Infratil Limited has been a cornerstone shareholder since Trustpower’s formation in 1994.
Infratil Limited is a specialist investor in infrastructure and utility assets. The company is a major stakeholder in Wellington Airport, as well as energy and other investments in New Zealand and Australia. Infratil Limited is listed on both the New Zealand Stock Exchange NZX and Australian Stock Exchange ASX.
Tauranga Energy Consumer Trust (TECT) has been a cornerstone shareholder since Trustpower’s formation in 1994. TECT is managed by six elected Trustees. The beneficiaries of TECT are electricity consumers who have a Trustpower account in the supply areas of the former Tauranga Electric Power Board and Tauranga Electricity Limited.
Trustpower also has over 12,000 small parcel shareholders and 12,000 bond holders.