29 Jul 2011

TrustPower generation up

7:55 am on 29 July 2011

Listed power company TrustPower says its electricity generation in the three months to June was up 27% compared with last year.

The Tauranga-based company says generation jumped to 705 gigawatt hours mainly due to strong hydro production in the North Island which was 73% higher than the year before.

It says wholesale electricity prices fell as a result of above average hydro storage levels across the country.

TrustPower says its mass market customer sales were down 10% compared with the same three months last year due to very mild temperatures.

The company says competition is intense, particularly in the South Island, but says it has maintained stable customer numbers through targeted campaigns in the Southland, mid-Canterbury and Tasman regions.