16 May 2011

TrustPower focusses on peak demand

7:56 am on 16 May 2011

Listed electricity company TrustPower is focusing on peaking generation plant to take advantage of spikes in electricity prices and offset the effects of intense competition for customers.

The Tauranga-based firm made a flat annual underlying profit of $116.5 million as it battled competition and lower wholesale energy prices.

It is building a nine-megawatt diesel generation plant near Marsden Point in Northland to protect itself from an increasing frequency in higher prices in the upper North Island.

Trustpower chief executive Vince Hawksworth says the company's aiming to ensure its generation portfolio is flexible enough to meet peak demand, which is becoming more valuable.