22 Dec 2014

No word on how much MRP deal worth

7:06 pm on 22 December 2014

Ngati Tuwharetoa, which has struck a deal with Mighty River Power over the use of water from Lake Taupo, won't disclose how much its commercial agreement is worth.

The central North Island iwi owned the lakebed and has the legal right to charge commercial users.

Mighty River Power said the lake feeds its Waikato hydro-system and accounted for 10 percent of the country's electricity supply.

Chief executive of the Tuwharetoa Maori Trust Board Topia Rameka said the value of the partnership was commercially sensitive.

But he said the tribe was happy with the agreement, which recognised its property right over the lake.

Despite not disclosing an amount Topia Rameka said tribal members would receive a financial gain from its partnership with Mighty River Power.

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