Genesis Power Limited

Infobox Company
name = Genesis Energy

type = State-owned enterprise
foundation = 1999
founder =
location_city = Auckland
location_country = New Zealand
locations =
area_served =
key_people = Albert Brantley, Chief Executive
industry = Energy
products =
services = Electricity, natural gas, liquid petroleum gas
market c

revenue =
operating_income =
net_income =
assets =
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num_employees =
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homepage = [http://www.genesisenergy.co.nz/ www.genesisenergy.co.nz]
footnotes =
intl = yes

Genesis Power Limited is a New Zealand electricity generation and electricity, natural gas and LPG retailing company, and trades as Genesis Energy. It was formed from the breakup of the Electricity Corporation of New Zealand (ECNZ) in 1999 as a result one of the reforms of the New Zealand Electricity Market and corporatised to become a state-owned enterprise with its own board of directors and Ministerial shareholders. The shareholders are the Minister of Finance and the Minister of State Owned Enterprises.

The company owns and operates hydroelectic generating stations on the Tongariro Scheme, namely Rangipo (120 MW) and Tokaanu (240 MW) and the Tuai, Kaitawa and Piripaua stations on Lake Waikaremoana (142 MW) as well as a coal thermal plant (1000 MW) on the Waikato River at Huntly power station. The Huntly also has a 48MW open cycle gas turbine unit, an LM6000 unit known as P40, commissioned in 2004. The company also has a windfarm and interests in small hydro and cogeneration schemes.

Genesis Energy's 385MW combined cycle gas turbine project at Huntly was launched on 21 February 2005 by the Prime Minister, the Rt Hon Helen Clark. This NZ$520 million project is more commonly known as Huntly e3p, and was commissioned in June 2007.

Genesis produces approximately 18% of New Zealand's electricity [ [http://www.med.govt.nz/templates/MultipageDocumentTOC____36571.aspx MED Energy Data File 2008] ] , and is the third largest electricity generating company in New Zealand, in terms of MW capacity, GWh generation and revenue (see comparison table at Electricity sector in New Zealand).

Power Stations

Developments

*Genesis is developing the 480 MW Rodney power station, a gas fired combined cycle power station near Henderson, north of Auckland.
*Genesis is a founding member of Awatea, the New Zealand marine energy association.
*The Gasbridge LNG project is a 50:50 joint venture between Genesis and Contact Energy.

Subsidiaries

Infogen

Genesis Energy also retails internet services to its customers through its Infogen service. The service is outsourced and is provided by Orcon.Fact|date=March 2008

History

Genesis was one of three SOEs formed in 1999 from the assets of ECNZ.

During the period 2000 to 2002, Genesis Energy purchased several electricity and gas retailing entities, following changes to laws governing the electricity industry. These included electricity retail businesses of Wairarapa Electricity, Central Power, Powerco and Todd Energy, and electricity and gas customers from NGC (now Vector Limited and Energy Online.

See also

*Electricity sector in New Zealand

References

External links

* [http://www.genesispower.co.nz/ Genesis Power]
* [http://www.infogen.net.nz/ Infogen]
* [http://www.energyonline.co.nz Energy Online]