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New Electricity SOE Brings Cheaper Wholesale Power

Friday, 16 July 1999, 11:29 am
Press Release: New Zealand Government

SOE Minister, Tony Ryall, today officially opened the Manukau City headquarters of baby-ECNZ Genesis Power Limited.

Genesis is one of the three electricity generation and retail companies formed from the former ECNZ on 1 April this year as part of the Government's plan to give New Zealanders a better deal on electricity.

"Following the ECNZ split in April, wholesale power prices fell dramatically" said Mr Ryall, speaking in Manukau.

ENDS

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