- Mighty River Power
Mighty River Power Type State owned Industry Electric power generation Predecessor Electricity Corporation of New Zealand Founded 1 April 1999 Headquarters Auckland, New Zealand Key people Doug Heffernan (CEO) Products Electric power Services Electricity retailing Revenue NZ$1,163,881,000 Operating income NZ$257,246,000 Net income NZ$127,073,000 Total assets NZ$5,376,587,000 Total equity NZ$2,906,542,000 Owner(s) New Zealand Government Subsidiaries Mercury Energy (retail)
Mighty River Power Limited is a New Zealand electricity generation and electricity retailing company. It was formed from the breakup of the Electricity Corporation of New Zealand (ECNZ) in 1999 as a result one of the reforms of the New Zealand Electricity Market and corporatised to become a state-owned enterprise with its own board of directors and Ministerial shareholders. The shareholders are the Minister of Finance and the Minister of State Owned Enterprises.
The company owns and operates the hydroelectric generating stations on the Waikato River as well as geothermal plants in the Taupo area, the combined cycle Southdown plant in south Auckland and the largely unused plant (Marsden A and Marsden B) at Marsden Point near Whangarei.
In 2008, Mighty River Power produced 16% of the country's electricity. According to its own website, the company supplies 22% of New Zealand peak energy demand, with about 80% of this coming from hydro-power.
Mighty River Power was established on 1 April 1999, when the 1998 reform of the electricity sector took effect. The Electricity Corporation of New Zealand (ECNZ) was broken up into three state-owned generating companies - Mighty River Power, Genesis Energy and Meridian Energy. Mighty River Power took over the ownership and operation of the eight hydroelectric power stations on the Waikato River, New Zealand's longest, and also inherited the assets of two largely decommissioned oil-fired power stations at Marsden Point, near Whangarei.
In addition, the 1998 reforms forced the separation between lines (transmission and distribution) and supply (generation and retailing). On 1 April 1999, Mercury Energy, then the major lines and supply company for Auckland, New Zealand's largest city, was split between lines and supply. Mighty River Power inherited Mercury Energy's retail base and its share in the Southdown Power Station (in conjunction with the Natural Gas Corporation). Mercury Energy then became the name of Mighty River's retail business, and the sub-transmission and distribution business of Mercury Energy was renamed Vector.
In 2000, Mighty River purchased into the Rotokawa geothermal power station, to operate and maintain the station, and own the geothermal turbines in a joint venture with the Tauhara North No.2 Trust. Also that year, Mighty River Power commissioned the Mokai geothermal power station in a joint venture with the Tuaropaki Trust. One aspect that sets Mighty River Power apart from other geothermal generators is that it works in partnership with Māori landowners (the tāngata whenua) to benefit both Mighty River power and the tāngata whenua.
In September 2002, Mighty River gained 100 percent ownership of the Southdown power station.
In 2004, Mighty River announce plans to refurbish the Marsden B plant to fire it on coal to increase supply security north of Auckland. Marsden B had been mothballed since it was completed in 1978 due to rising oil prices following the 1973 oil crisis and there being cheaper alternatives available. Greenpeace staged a nine-day occupation of the site in 2005, and after the Northland Regional Council granted consent, appealed to both the Environment Court and High Court, eventually overturning the consent. Mighty River appealed the High Court decision to the Court of Appeal, but in March 2007 dropped the proposal.
In 2008, Mighty River increased its generating capacity by opening the 100 MW Kawerau geothermal power station, increasing supply security to the eastern Bay of Plenty, a large timber processing area. In 2010, it opened the 140 MW Nga Awa Purua geothermal station near Taupo, complete with the largest single-shaft geothermal turbine in the world, further increasing its geothermal generation.
Mighty River Power operates 13 power stations, all in Auckland, Waikato, and the Bay of Plenty. In total, the company has 1638 MW of generating capacity - composed of 1078 MW hydroelectric, 385 MW geothermal, and 175 MW natural gas.
Name Type Location Capacity
Commissioned Notes Arapuni Hydroelectric Waikato River 196.7 805 1946 Aratiatia Hydroelectric Waikato River 78 330 1964 Atiamuri Hydroelectric Waikato River 84 289 1962 Karapiro Hydroelectric Waikato River 96 490 1948 Kawerau Geothermal Kawerau, Bay of Plenty 100 800 2008 Maraetai Hydroelectric Waikato River 360 885 1954, 1971 Mokai Geothermal northwest of Taupo 112 900 2000 Joint venture with Tuaropaki Trust Nga Awa Purua Geothermal north of Taupo 140 1100 2010 Joint venture with Tauhara North No.2 Trust
World's largest geothermal turbine (147 MW rated)
Ohakuri Hydroelectric Waikato River 112 400 1962 Rotokawa Geothermal north of Taupo 33 210 1997 Joint venture with Tauhara North No.2 Trust Southdown Gas CCGT cogeneration Southdown, Auckland 175 850 1998 Waipapa Hydroelectric Waikato River 51 242 1961 Whakamaru Hydroelectric Waikato River 100 494 1956
Name Type Location Planned
Status Ngatamariki Geothermal north of Taupo 100 consents granted Puketoi Wind Puketoi Ranges consent application lodged Turitea Wind south-east of Palmerston North 180 consents approved
In addition to its generation assets, Mighty River Power also incorporates or has major shareholdings in:
- Mercury Energy, an electricity and gas retailer
- Metrix, a metering and meter-reading business
- Tiny Mighty Power, an electricity retailer
Mighty River Power is a founding shareholder in GeoGlobal Energy LLC, which is actively exploring and developing geothermal areas in USA, Chile and Germany.
- ^ a b c d e "AnnualReport 2011". Mighty River Power. http://www.mightyriverpower.co.nz/content/2801/Mighty%20River%20Power%20Limited%20Annual%20Report%202011.pdf. Retrieved 2011-10-08.
- ^ "Energy Data File". MED. July 2009. http://www.med.govt.nz/templates/MultipageDocumentTOC____41143.aspx.
- ^ Mighty River Power: About Us: Generation (from the official company website. Retrieved 2007-12-01.)
- ^ "Geothermal Generation". Mighty River Power. http://www.mightyriverpower.co.nz/content/1535/Geothermal%20Generation.pdf. Retrieved 6 February 2011.
- ^ "List of Generating Stations November 2010 - New Zealand Electricity Authority". http://www.ea.govt.nz/document/11750/download/industry/modelling/long-term-generation-development/list-of-generation-projects/. Retrieved 2011-01-25.
- ^ "Mighty River Power lodges application for wind development at Puketoi" (Press release). Mighty River Power. 3 August 2011. http://www.mightyriver.co.nz/News/Detail.aspx?id=2756.
- ^ "Tiny Mighty Power". http://www.tinymighty.co.nz/.
- ^ "About Geo Global Energy". GeoGlobal Energy. 2011-01-12. http://www.geogloballlc.com/About.aspx. Retrieved 2011-01-12.
New Zealand state-owned enterprisesPart of the State sector organisations in New Zealand
Airways Corporation of New Zealand Limited · Animal Control Products Limited · AsureQuality Ltd · Electricity Corporation of New Zealand Limited · Genesis Energy · Kordia Group Limited · Landcorp Farming Limited · Learning Media Limited · MCS Limited · Meridian Energy · Meteorological Service of New Zealand Ltd · Mighty River Power · New Zealand Post Limited · New Zealand Railways Corporation · Quotable Value Limited · Solid Energy New Zealand Limited · Timberlands West Coast Limited · Transpower New Zealand Limited
Electricity companies in New Zealand Generation Transmission Distribution Retail
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