Shareholder

Since 1994, PowerNet Limited has managed electricity networks on behalf of its respective owner The Power Company Limited (TPCL). TPCL is owned by the Southland Electric Power Supply Consumer Trust (SEPSCT), representing consumers connected to their network.

PowerNet is charged a fee for the use of those two networks and adds maintenance costs and overheads to this. The total fees are on-charged to electricity retailers through what is known in the industry as wheeling fees or line charges.

PowerNet manages the OtagoNet Joint Venture (OJV), Lakeland Network Limited (LNL) in the Queenstown Lakes area and two embedded networks in Wanaka and Cromwell and Electricity Invercargill Limited (EIL).

PowerNet charges OJV a network management fee. OJV then adds maintenance costs, depreciation, overheads and a return on investment to the PowerNet charges and the total fees are on-charged to electricity retailers as wheeling fees or line charges.