Electricity Corporation of New Zealand


Electricity Corporation of New Zealand

The Electricity Corporation of New Zealand Ltd (ECNZ) is a New Zealand State-Owned Enterprise formed on April 1, 1987 as a transition entity in the process of
deregulating the New Zealand Electricity Market. ECNZ is now a residual entity that manages ECNZ's remaining hedge and debt obligations whilst winding up ECNZ's other activities.

Formation

In the 1980s, a government department – the New Zealand Electricity Department (NZED) controlled and operated almost all New Zealand electricity generation and operated the New Zealand electricity transmission grid. The first phase of deregulation saw the New Zealand Government corporatise the NZED and form the state-owned enterprise ECNZ.

Division

In 1994 Transpower was separated from ECNZ and created as a state owned enterprise to own and operate the national grid. Then in 1996, ECNZ was split into two more state owned enterprises - ECNZ and Contact Energy. Then, on 1 April 1999 ECNZ was split again. The corporation sold all of its generation assets to three new electricity generation SOEs:

* Meridian Energy Limited,
* Genesis Power Limited, and
* Mighty River Power Limited.

All three remain in existence today, along with Contact Energy.

ee also

* New Zealand Electricity Market


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