What is "powerco"

Powerco is the second-largest gas and largest electricity distributor in New Zealand. It is one of only two companies to distribute both electricity and natural gas through their network (the other being Vector Limited). Its network delivers electricity and gas to households around the North Island from the national electricity transmission network Transpower and the natural gas transmission system owned and operated by Vector Limited.

Powerco arose from the energy reforms in New Zealand in the 1990s. It can trace its history back to a number of local power boards and gas companies that operated throughout the North Island. The company is 58% owned by QIC Limited - an investment firm owned by the Queensland Government - and 42% owned by AMP Limited.