Mighty River Power Expresses Concern with District Council Plan
17 May 2012
During a detailed submission to the Taupo District Council on Tuesday 15 May, Mighty River Power’s Hydro Generation Manager, Gavin Williamson, expressed concerns around the Council’s Long-Term Plan and the process involved in reaching the proposed Capital Value rating plan.
“With the proposed changes it’s not a level playing field and we share the concerns of residential ratepayers, who along with electricity generators have been penalised, while Council’s commercial ratepayers are the key beneficiaries.”
Mr Williamson said that Mighty River Power appreciates the challenge Council has in reviewing its rating process and all the Company is asking for is that any such change to rating policy is managed in a way that is fair and follows adequate consultation.
“We are happy to pay our share, but under the proposed system our rates would increase by over 80% and while many residential properties would also increase, most commercial properties would enjoy a reduction, some as much as 35%.”
Mighty River Power employs close to 100 full time staff in the Taupo District. The Company operates 5 hydro power stations in the region and has owner/operator interests in 3 geothermal power stations. The Company also has offices in Whakamaru and Taupo.
About Mighty River Power
Mighty River Power is an integrated electricity generator and retailer, and New Zealand’s only large renewables dominated energy company with both hydro and geothermal generation. Our core business is based on reliable, low fuel cost generation, complemented by electricity sales to businesses and homes through multiple retail brands.
The Company’s sales to major industrial and commercial users, and through our retail brands, Mercury Energy, GLO-BUG, Bosco Connect and Tiny Mighty Power, account for about 18% of New Zealand’s total electricity consumption.
More than 90% of our generation is from renewable sources, with a substantial geothermal share, supported by a flexible gas-fired plant in Auckland. Mighty River Power is among the world’s top 10 owners of geothermal power stations commissioned over the past decade and is investing through GeoGlobal Energy in geothermal developments in the US, Chile and Germany.
Mighty River Power won Overall Energy Company of the Year and Project of the Year at the 2010 Deloitte Energy Excellence Awards, and in 2011 was named Energy Retailer of the Year (Mercury Energy).
Mighty River Power is currently a 100% State-owned Enterprise, operating as a Commercial Priority Company within the Crown’s portfolio. The Company (Mighty River Power Limited) publishes announcements on the New Zealand Stock Exchange with the ticker symbol MRP.