TrustPower feels heat with loss of 5000 clients

Changing power companies was popular in January, says latest monthly switching figures. Photo / Mark Mitchell

Tauranga-based electricity retailer and generator TrustPower had 5000 fewer customers at the end of last year than it did a year earlier, amid stiff competition.

The company said yesterday its 221,000 customers at the end of the year were 1000 fewer than three months earlier and down 6000 from December 2009.

TrustPower chairman Bruce Harker said retail competition stayed strong and was expected to continue for some time as state-owned generator-retailers rebalanced their North and South Island customer bases.

The company sold 3113 gigawatt hours (GWh) of electricity in the nine months to the end of December, 2 per cent fewer than a year earlier.

Generation of 1763 GWh in this country for the nine months was up 9 per cent on a year earlier thanks to stronger hydro production, but New Zealand wind generation dropped 7 per cent after lower production at the Tararua Wind Farm during the third quarter, Dr Harker said.

TrustPower's main hydro storage catchments were at or above average levels for this time of year after good inflows during the end of the third quarter and during January.

The commissioning of pumping equipment at the company's Highbank hydro generation scheme, in Canterbury, was completed on schedule in December.

Progress continued on schedule and on budget at the 36 megawatt (MW) Mahinerangi wind project in Otago.

In December, TrustPower was also granted consents for the Arnold and Wairau hydro generation schemes.

Within its development portfolio TrustPower now had 400MW of wind generation and more than 100MW of hydro generation options in the South Island fully consented.

- NZPA