Electricity transmission assets transfer to Eastland Network

High voltage electricity transmission assets will transfer to Eastland Network

An agreement between Eastland Network and Transpower will see the region’s high voltage electricity transmission network transfer to Eastland Network from March 2015.

Part of the Eastland Group, Eastland Network is the electricity distribution company for the Gisborne, East Coast and Wairoa regions and currently owns and operates the poles, wires and underground cabling used by energy retailers who supply customers with electricity.

From March next year the company will also own and operate the 110kV assets which connect the region to the national grid – the steel towers and poles that run from Tuai substation to Wairoa and Gisborne, as well as the substations at Wairoa and Gisborne and the tower lines between Gisborne and Tokomaru Bay.

Eastland Group’s general manager energy, Brent Stewart, said the transfer of the 110kV network was an exciting opportunity for Eastland Network.

“The region’s entire electricity lines network will be locally owned, meaning we can plan for maintenance and upgrades with the future of our region top-of-mind.

“The transfer of the Transpower assets will add around $14 million to our existing asset base, as well as providing additional regulated revenue via the Commerce Commission’s pricing processes. It provides the opportunity for us to continue to resource Eastland Network for both operational and engineering work and to meet the ongoing challenges of regulation.”

He said Eastland Network was committed to spending around $15 million on the new 110kV assets over the next five years, and around $1.5 million a year on operations.

ENDS

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