|
New Zealand Electricity Department
The Electricity Corporation of New Zealand Ltd (ECNZ) is a New Zealand state-owned enterprise (SOE) formed on 1 April 1987, as a transition entity in the process of deregulating the New Zealand electricity market. Most of ECNZ's remaining liabilities were resolved in the late 2000s, and ECNZ is a residual entity with the sole remaining task of winding up a series of land title issues. Formation In the 1980s the New Zealand Electricity Department (NZED), a government department, controlled and operated almost all New Zealand electricity generation and operated the 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 an SOE to own and operate the national grid. In 1996, ECNZ was split into two SOEs, ECNZ and Contact Energy, and on 1 April 1999 ECNZ was split into three electricity generation SOEs: * Genes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand
New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island country by area, covering . New Zealand is about east of Australia across the Tasman Sea and south of the islands of New Caledonia, Fiji, and Tonga. The country's varied topography and sharp mountain peaks, including the Southern Alps, owe much to tectonic uplift and volcanic eruptions. New Zealand's capital city is Wellington, and its most populous city is Auckland. The islands of New Zealand were the last large habitable land to be settled by humans. Between about 1280 and 1350, Polynesians began to settle in the islands and then developed a distinctive Māori culture. In 1642, the Dutch explorer Abel Tasman became the first European to sight and record New Zealand. In 1840, representatives of the United Kingdom and Māori chiefs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprise
A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (economics), profit for the Government, government, control monopoly of the Private sector, private sector entities, provide products and services to citizens at a lower price and for the achievement of overall financial goals & developmental objectives in a particular country. The national government or provincial government has majority ownership over these ''state owned enterprises''. These ''state owned enterprises'' are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of Profit (economics), financial goals & developmental objectives (e.g., a state railway company may aim to make transportation more accessible and earn profit for the government), SOEs ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deregulation
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere. It is the repeal of governmental regulation of the economy. It became common in advanced industrial economies in the 1970s and 1980s, as a result of new trends in economic thinking about the inefficiencies of government regulation, and the risk that regulatory agencies would be controlled by the regulated industry to its benefit, and thereby hurt consumers and the wider economy. Economic regulations were promoted during the Gilded Age, in which progressive reforms were claimed as necessary to limit externalities like corporate abuse, unsafe child labor, monopolization, pollution, and to mitigate boom and bust cycles. Around the late 1970s, such reforms were deemed burdensome on economic growth and many politicians espousing neoliberalism started promoting deregulation. The stated rationale for deregulation is often that fewer and simpler regulations will lead to raised level ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Electricity Market
The New Zealand electricity market (NZEM) is a decentralised electricity market regulated by the Electricity Industry Participation Code administered by the Electricity Authority (EA). The authority was established in November 2010 to replace the Electricity Commission. Overview Until 1987, New Zealand had a centrally run system of providers of generation, transmission, distribution, and retailing. Reform has since led to the separation of the monopoly elements from the contestable elements to create competitive markets in energy retailing and generation. Regulation has also been imposed on the natural monopolies of transmission and distribution. Currently the market is split into the following areas: Regulation, administration, generation, market clearing, transmission, distribution, metering and retail. The wholesale market for electricity operates under the Electricity Industry Participation Code (EIPC), and is overseen by the market regulator, the Electricity Authorit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Electricity Department
The Electricity Corporation of New Zealand Ltd (ECNZ) is a New Zealand state-owned enterprise (SOE) formed on 1 April 1987, as a transition entity in the process of deregulating the New Zealand electricity market. Most of ECNZ's remaining liabilities were resolved in the late 2000s, and ECNZ is a residual entity with the sole remaining task of winding up a series of land title issues. Formation In the 1980s the New Zealand Electricity Department (NZED), a government department, controlled and operated almost all New Zealand electricity generation and operated the 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 an SOE to own and operate the national grid. In 1996, ECNZ was split into two SOEs, ECNZ and Contact Energy, and on 1 April 1999 ECNZ was split into three electricity generation SOEs: * Genes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electric Power Transmission
Electric power transmission is the bulk movement of electrical energy from a generating site, such as a power plant, to an electrical substation. The interconnected lines that facilitate this movement form a ''transmission network''. This is distinct from the local wiring between high-voltage substations and customers, which is typically referred to as electric power distribution. The combined transmission and distribution network is part of electricity delivery, known as the electrical grid. Efficient long-distance transmission of electric power requires high voltages. This reduces the losses produced by strong currents. Transmission lines use either alternating current (HVAC) or direct current (HVDC). The voltage level is changed with transformers. The voltage is stepped up for transmission, then reduced for local distribution. A wide area synchronous grid, known as an "interconnection" in North America, directly connects generators delivering AC power with the same rela ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporatization
Corporatization is the process of transforming and restructuring state assets, government agencies, public organizations, or municipal organizations into corporations. It involves the adoption and application of business management practices and the separation of ownership from management through the creation of a joint-stock or shareholding structure for the organization. The result of corporatization is the creation of state-owned corporations (or corporations at other government levels, such as municipally owned corporations) where the government retains a majority ownership of the corporation's stock. Corporatization is undertaken to improve efficiency of an organization, to commercialize its operations, to introduce corporate and business management techniques to public functions, or as a precursor to partial or full privatization. History The move towards neoliberal economic reform and New Public Management public service reform in the 1980s led to privatization of public ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transpower New Zealand
Transpower New Zealand Limited (TPNZ) is the state-owned enterprise responsible for electric power transmission in New Zealand. It performs two major functions in the New Zealand electricity market. As the owner of the National Grid it provides the infrastructure of electric power transmission that allows consumers to have access to generation from a wide range of sources, and enables competition in the wholesale electricity market; as system operator it manages the real-time operation of the grid and the physical operation of the electricity market. Transpower was initially formed as an operating division of the Electricity Corporation of New Zealand (ECNZ) in 1987. In 1994 it was separated from ECNZ and corporatised to become a state-owned enterprise with its own board of directors and ministerial shareholders, the Minister of Finance and the Minister of State-Owned Enterprises. The New Zealand Treasury's Commercial Operations group (formerly the Crown Ownership Monitori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contact Energy
Contact Energy Limited is a New Zealand electricity generation, electricity generator, a wholesaler of natural gas, and a retailer of electricity retailing, electricity, natural gas, broadband and Liquefied petroleum gas, LPG. It is the second-largest electricity generator in New Zealand (after Meridian Energy), generating 23% of all electricity in 2014, and has the second-largest market share (22%) of electricity retailers (after Genesis Energy Limited, Genesis Energy). Contact owns and operates five geothermal power stations near Taupo, natural-gas turbine facilities at Hamilton and at Stratford in Taranaki, two hydroelectric dams on the Clutha River, and a diesel fuelled station near Napier. Contact originated with the partitioning of the Electricity Corporation of New Zealand in 1996, and publicly Listing (finance), listed in 1999. History Contact Energy was incorporated on 8 November 1995 and became a state-owned enterprise on 18 November 1995. It commenced operations on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Genesis Energy Limited
Genesis Energy Limited, formerly Genesis Power Limited is a New Zealand publicly listed electricity generation and electricity, natural gas and LPG retailing company. It was formed as part of the 1998–99 reform of the New Zealand electricity sector, taking its generation capacity from the breakup of the Electricity Corporation of New Zealand (ECNZ) and taking retail customers from three local power boards in the Lower North Island. The New Zealand Government owns a 51% share of the company. Genesis Energy is the largest electricity and natural gas retailer in New Zealand with 26% and 39% market share respectively in the 2015–2016 financial year. In 2015, Genesis produced 14% of New Zealand's electricity, and is the third largest electricity generating company in New Zealand in terms of MW capacity, GWh generation and revenue (see comparison table at New Zealand electricity market). History Genesis Energy began business on 1 April 1999, after the reform of the N ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Meridian Energy
Meridian Energy Limited is a New Zealand electricity generator and retailer. The company generates the largest proportion of New Zealand's electricity, generating 35 percent of the country's electricity in the year ending December 2014, and is the fourth largest retailer, with 14 percent of market share in terms of customers as of December 2015. Meridian was one of three electricity companies formed from the break-up of the Electricity Corporation of New Zealand (ECNZ) in 1998–99, taking over the Waitaki River and the Manapouri hydro schemes. Originally a state-owned enterprise wholly owned by the New Zealand Government, the company was partially privatised in October 2013 by the Fifth National Government, with the government retaining a 51.02% shareholding. Today, Meridian operates seven hydroelectric power stations and one wind farm in the South Island of New Zealand, four wind farms in the North Island, and two wind farms in southern Australia – one in South Australia a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercury Energy
Mercury NZ Limited is a New Zealand electricity generation and multi-product utility retailer of electricity, gas, broadband and mobile telephone services. All the company's electricity generation is renewable. In August 2021, Mercury acquired five operating wind farms and several wind farm development options from Tilt Renewables. At the same time, the first power from the newly built wind farm at Turitea was generated – adding to the existing portfolio of nine hydro stations on the Waikato River and five geothermal plants located in the central North Island. In the year ended June 2021, Mercury had generated 3,611GWh of electricity through hydro generation and 2,594GWh through geothermal generation. In May 2022, Mercury acquired the retail business of Trustpower, including the retail customer base and Trustpower brand. The generation business of Trustpower changed its name to Manawa Energy Limited. In June 2022, Mercury launched fibre broadband as a retail product to be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
