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Mighty River Power Limited (MYT)
is a publicly listed company on the Australian Securities Exchange (ASX).
General Overview
About Mighty River Power Limited
Mighty River Power is one of New Zealand’s largest electricity companies – with its core business based on reliable, low fuel-cost electricity generation complemented by sales to homes and businesses.
The Company generates about 17% of New Zealand’s electricity. It operates the nine hydro stations on the Waikato River, five geothermal power stations in the Central North Island and a multi-unit gas-fired station in Auckland. More than 90% of its electricity production is from renewable sources. Mighty River Power sells electricity through multiple channels and retail brands, including Mercury Energy, GLO-BUG, Bosco Connect and Tiny Mighty Power. Mighty River Power’s metering business, Metrix, provides electricity retailers with advanced metering infrastructure solutions for their residential and commercial customers.
Projects
Generation
Mighty River Power’s electricity generation in New Zealand comprises three complementary fuel sources – hydro, geothermal and gas-fired. More than 90% of their generation comes from renewable resources.
Generation Assets
Hyrdro
9 Stations on the Waikato River.
Flexible and rain-fed, hydro output can be increased or decreased quickly and efficiently.
Geothermal
5 Stations through the central North Island.
Steady base-load geothermal runs at full capacity about 95% of the time.
Gas-fired
1 Station, Southdown, Auckland.
Flexible gas-fired generation can respond to wholesale market opportunities and covers dry-year risk.
Lake Taupo
Lake Taupo has water flowing into it from many sources, but only one river flows out – the Mighty Waikato, New Zealand’s longest river. Lake Taupo provides the primary storage for the Waikato Hydro System. Just 1% of the lake’s total volume – a range of up to 1.4 meters – is available for Mighty River Power as it flows down the river through the hydro turbines and for other users, including potable supply for Hamilton and Auckland, and agricultural users who abstract water for irrigation and other purposes.
Subsidaries
Mecrcury Energy
Mercury Energy is Mighty River Power’s largest retail brand and accounts for over 94% of its end-user electricity sales. Mercury Energy is one of the longest established major retail electricity brands in New Zealand.
Globug
Globug is a prepay service that utilises smart metering to allow residential customers to monitor their electricity use and to align their expenditure with their income, thereby managing their debt.
Tiny Mighty Power
The Tiny Mighty Power brand was launched in 2009 out of the Bosco Connect business, to retail electricity into smaller regional towns.
Bosco
Bosco Connect is a niche utility retailer supplying electricity to apartment customers in the Auckland and Wellington central business districts.
Metrix
Metrix provides residential and commercial metering equipment in the greater Auckland area. Metrix is Auckland’s largest meter asset owner and supplies services to most electricity retailers.
Website Links
Contact Info
Mighty River Power Limited
Level 14
23-29 Albert street
Auckland,
New Zealand, 1142
Phone:
+64 9 308 8200
Fax:
+64 9 308 8209
Website:
http://www.mightyriverpower.co.nz
