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Electricity Market Welcomes New Member

The New Zealand wholesale electricity market (NZEM) is welcoming a new market participant. Tuaropaki Power Company Limited is the first Maori-owned power station to join the market.

Tuaropaki Power Company is wholly owned by the Tuaropaki Trust, which administers the land where the geothermal power station is situated for seven Mokai hapu. The Tuaropaki station is located west of Taupo and can generate 58 MW of electricity at a time.

“We have the largest privately developed and owned geothermal project in New Zealand,” said Pat Brown of the Tuaropaki Trust. “Tuaropaki is big enough to sustain a town of up to 30,000 people and is run for the benefit of Maori. Joining NZEM is another step in developing our resources.”

The electricity industry has enhanced the rules that govern NZEM over the last year to reduce the cost for small generators to operate in the market.

“It is excellent to see a small generator like Tuaropaki getting into the market,” said Philip Bradley, Chief Executive of M-co, the company that administers NZEM.

“Tuaropaki will now be able to play a key role in developing and evolving the wholesale market,” said Mr Bradley. “It will also be able to take advantage of the considerable prudential security provided by the market, which will reduce their exposure to risk.”

-ends-

For further information please contact
Philip Bradley, Chief Executive
Ph +64 4 473-5240 (bus), 025 916-186 (mobile)

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