Power crisis boosts KCE winter profits
Last winter's power crisis storm clouds had a golden lining as far as King Country Energy wcre concerned. While the drought in
the Pukakai catchment in the South Island was largely responsible for power shortages, abundant rain in the King Country allowed full generation at both the Kuratau and Piriaka Power Stations, resulting in surplus power that could be sold on the spot market when prices were highest. As a rcsult, King Country Energy found itself $300,000 up on budgeted profit at the end of September and well on the way to having a good financial year. Last year at the same time King Country Energy had a $129,724 loss, reflecting the usual cash flow position of the period of having paid the Electricity Corporation of New Zealand for bulk winter power purchases - but still billing it on to customers. The extra profit will come in handy to help King Country Energy mcet the special one-off costs of energy reforms - the preparation and public consultation on the proposed draft establishment plan, required by the Minister of Energy.
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Ruapehu Bulletin, Volume 10, Issue 460, 3 November 1992, Page 6
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183Power crisis boosts KCE winter profits Ruapehu Bulletin, Volume 10, Issue 460, 3 November 1992, Page 6
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