Power metering and supply company Pulse Utilities has secured electricity supply from two small hydro-electricity generators.
The company said an agreement with Taranaki's Opunake Hydro, which produced 330 kilowatts, took effect immediately.
Pulse had also agreed to source electricity from the Run of the River Hydropower scheme at Coal Creek
in Otago when it finished in July 2010. The scheme would generate up to 1.9 megawatts, the company said.
Pulse listed on the NZ Alternative Exchange in November 2007, and plans to sell power to customers through a smart metering system.
The meters allow the company to remotely read, report and act on customer power consumption every 30 minutes, communicating power usage data via radio frequency transmitters in the meters. Customers can choose how and when they use power to save money.
The Opunake deal would provide power to up to 400 customers, the company said, touting the agreement as the first of many to be made with small and medium power generators.
The company began retail trading in May 2007, reporting total sales worth $139,238 to March last year.
In results released last June, the company reported a loss of $3.32 million, included amortisation and depreciation of $1.9 million.
- NZPA
