Monday, May 2, 2016

New Zealand: Mighty River Power to Become Mercury

Mighty River becomes Mercury (New Zealand Herald)

New Zealand electricity generator and retailer Mighty River Power is changing its name to Mercury, in a move that underlines the increasing retail focus of the country's largest power companies.

Known as MRP since it was split out from Electricity Corp in 1999, the "mighty river" reference was to the eight Waikato River hydro power stations the company inherited in the split, but it kept the Mercury retail brand it inherited in Auckland from the old Auckland Electric Power Board, where it remains the dominant supplier.

MRP has 5 geothermal power stations through the central North Island.  The quarter to 31 December 2015 reflected strong geothermal performance as Mighty River Power had its highest-ever quarter of geothermal generation, up 12% on the prior comparable period (pcp), to 728 GWh.

This high geothermal generation reflected 98% availability of the Company’s geothermal plants during the quarter.

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