PowerNet Limited manages electricity networks on behalf of its respective owners Electricity Invercargill Limited (EIL) and The Power Company Limited (TPCL) who each hold a 50% shareholding in the company.
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.
EIL is owned by the ratepayers of the Invercargill City Council and TPCL is owned by the Southland Electric Power Supply Consumer Trust (SEPSCT) which represents consumers connected to their network.
PowerNet also manages the assets of the OtagoNet Joint Venture (OJV) which is jointly owned by PowerNet’s two shareholders EIL and TPCL.
PowerNet charges the 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.
PowerNet also manages a small network in the Frankton and Wanaka area, known as Lakeland Network. The Central Otago network is owned by Electricity Southland (ESL). ESL is owned by EIL and TPCL.
PowerNet also provides a network control centre function to the Stewart Island Electrical Supply Authority (SIESA) and two field services staff are stationed on the Island.
Follow this link for further information about PowerNet’s Network Owners.