The Power Company – Company Information
The Power Company has a long, proud history of being innovative and proactive in providing electricity to the people of the South. The Company has operated over the years as the Southland Electric Power Board, Southland Electric Power Supply and currently The Power Company Limited.
The Power Company Limited is owned by the consumers connected to the network and the Southland Electric Power Supply Consumer Trust exercises the ownership rights on behalf of those consumers.
The Optimised Deprival Valuation of The Power Company network assets is over $354 million. This is made up by over 8,800 km of lines and cables and 11,164 distribution transformers with a distribution capacity of just 447 MVA.
The Power Company contracts PowerNet Limited to manage its network assets and charges PowerNet a fee for the use of the network. PowerNet adds maintenance costs and overheads to this and the total costs are on-charged to Electricity Retailers through what is known in the industry as wheeling fees or line charges.
Electricity network companies are measured by their financial and network performance. The Power Company is one of the better performing predominately rural networks in New Zealand.