Energy, Land & Environment Sector

Electricity Corporation of New Zealand Ltd (ECNZ)

ECNZ is a residual entity. Its operating assets were transferred to the three new generator state-owned enterprises (Mighty River Power Ltd, Meridian Energy Ltd and Genesis Power Ltd) on 1 April 1999.   Its primary objective is to manage down its remaining activities, assets, and liabilities, with a view to eventual wind-up.  ECNZ has surplus cash on its balance sheet.  The interest from this is its primary source of revenue.

2008/09 Statement of Corporate Intent (pdf. 88.4 kB)

Key Company Data

Company Form	State-owned enterprise
Year of Establishment	1999
Head Office	Wellington
Chair (term expiry)	Victor Wu (April 2009)
Board Membership	Grant Graham (April 2009)
	Daphne Rawstorne (April 2009)
CEO	N/A
Balance Date	30 June
Number of FTE Staff	None

 

 

Key Financial Data ($ million)	2002/03	2003/04	2004/05	2005/06	2006/07
Financial Performance
Total Operating Revenue	16.8	5.8	7.3	6.1	1.4
Net Profit After Tax	11.9	0.4	4.0	4.7	(0.1)
Financial Position
Total Assets	123.6	60.0	22.6	18.1	17.8
Equity	16.6	7.0	6.9	1.7	1.5

Financial data and staff member information correct as at 30 June 2007. All other information correct as at 1 May 2007.