18 October 2001 Media Statement

Sound performances by electricity SOEs

The four electricity state owned enterprises have reported sound performances for the past financial year, the Minister for State Owned Enterprises Mark Burton said today.

Annual reports for Mighty River Power, Genesis Power, Meridian Energy and Transpower have been tabled in Parliament today.

"Parliament has seen some irrational attacks on the electricity SOEs," Mark Burton said. "These annual reports demonstrate once again that claims of profiteering are untrue.

"It was a challenging year for all electricity companies, and the SOEs responded in a responsible way, by safeguarding the security of supply, encouraging electricity conservation, improving service to customers and protecting the taxpayers investment.

"The electricity SOEs have performed entirely consistent with their responsibility to act commercially and as good corporate citizens."

ENDS

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