MainPower Disclosures

MainPower produces and mails out to all shareholders and customers a copy of our Annual Review for the year ending 31 March each year. The company’s Annual Report and Financial Statements are available on the website; hard copies can be posted on request. An Interim Report as at 30 September is prepared, covering the first six months of each financial year. A summary of the Interim Report is also published in local newspapers. 

Asset Management Plans

MainPower’s Asset Management Plan documents our asset management risks, objectives, processes and plans with specific focus on service targets, and the development, maintenance and replacement plans for our assets. The plan provides customers and stakeholders with insight and explanation on how we intend to provide electricity distribution services to our consumers over the next ten years. It complies with the requirements of clause 2.6.1 of the Electricity Distribution Information Disclosure Determination 2012.

Asset Valuation Reports

MainPower New Zealand Limited has carried out a valuation of its electricity line business system fixed assets as at 31 March 2004.

Valuation Report: The Valuation Report is dated December 2004.The Optimised Deprival Valuation (ODV) of these assets is NZ$110,195,789.

Auditors’ Opinion and Certification: Appended to the Valuation Report is the Auditors' Opinion and Certification in relation to the Valuation.

Regional Master Planning

Audit Committee

Electricity Distribution Information Disclosure Determination

Commerce Act (Electricity Information Disclosure Requirements) Notice

Network Extensions and Upgrades Policy

MainPower

Kaiapoi

Disclosure in accordance with the Electricity Industry Participation Code 2010.

Under the above noted regulations, electricity distributors are required to prepare a Participant Outage Plan (POP) which specifies the actions that would be taken to reduce the consumption of electricity in the unlikely event a supply shortage is declared by the Electricity Commission.

The Participant Outage Plan must:

• comply with the Electricity Industry (Enforcement) Regulations 2010, the Electricity Industry Participation Code 2010 and subsequent amendments; and
• comply with the requirements of the System Operator Rolling Outage Plan (SOROP); and
• supplement the System Operator Rolling Outage Plan (SOROP)

Security of Supply - Participant Outage Plan 

The Board of MainPower New Zealand Limited submits a Statement of Corporate Intent to the MainPower Trust each year setting out the overall intentions of the company and the objectives which the Directors and Trustees have agreed. Each Statement of Corporate Intent relates to the current year and two successive financial years.

Any electricity retailer wishing to supply a customer with electricity in the MainPower area needs to enter into a use of system agreement with MainPower.

MainPower operates under a conveyance model. This means that MainPower has a direct contractual relationship with customers for the provision of distribution services. Customers also have a contractual relationship with the electricity retailer for the supply of electricity. The electricity retailer acts as MainPower’s agent for the purposes of invoicing customers for their distribution charges.

MainPower currently has use of system agreements with fifteen retailers. View the Current Use of System Agreements with Retailers.

MainPower will commence negotiating a new use of system agreement based on the Electricity Authority’s model use of system agreement sometime in the first half of 2018.