Electricity Corporation of New Zealand

The Electricity Corporation of New Zealand Ltd (ECNZ) is a New Zealand state-owned enterprise (SOE) formed on 1 April 1987, as a transition entity in the process of deregulating the New Zealand electricity market. ECNZ is now a residual entity that manages its remaining hedge and debt obligations whilst winding up its other activities.

Formation

In the 1980s the New Zealand Electricity Department (NZED), a government department, controlled and operated almost all New Zealand electricity generation and operated the electricity transmission grid. The first phase of deregulation saw the New Zealand Government corporatise the NZED and form the state-owned enterprise ECNZ.

Division

In 1994, Transpower was separated from ECNZ and created as an SOE to own and operate the national grid. In 1996, ECNZ was split into two SOEs, ECNZ and Contact Energy, and on 1 April 1999 ECNZ was split into three electricity generation SOEs:

• Meridian Energy,
• Genesis Energy, and
• Mighty River Power.

All three remain in existence, along with Contact Energy and Transpower.

See also

• Electricity sector in New Zealand