4. Allocation of Assets

This Document is Archived

Transaction Overview Report

Energy Reform Transition Unit

[ Last Updated 21 November 2005 ]

The document dated 7 April 1998 containing the Government's electricity reform package (the "Reform Package"), allocated the primary power station assets to the new SOEs. Under ERTU's recommendations for the structure of the split, a series of other material assets will be allocated to the new SOEs. As a result of these allocations, the following assets will be transferred to the new SOEs on 1 April 1998:

Company	NZ Power Stations		Business Development Projects
Waikato SOE	Aratiatia Ohakuri Atiamuri Whakamaru Maraetai Waipapa Arapuni Karapiro	84 MW 112 MW 84 MW 100 MW 360 MW 59 MW 172 MW 96 MW	Wayang Windu geothermal development in Indonesia Mokai geothermal development project Marsden A and B and the Sri Lankan development project Fijian development projects North Island hydro opportunities First Electric

Company	NZ Power Stations		Business Development Projects	Fuel Arrangements
Huntly SOE	Huntly Rangipo Tokaanu Te Awamutu Kaitawa Tuai Piripaua	1000 MW 120 MW 240 MW 52 MW 34 MW¹ 58 MW¹ 43 MW¹	Meremere A and B sites and associated arrangements with Nga Pua Biomass opportunities Cogeneration opportunities Kinleith Cogeneration Limited Possible purchases of NI retail energy businesses made before 1 April 1999	25.75% share in the Kupe gas field² Contact Energy gas contract Coal contracts Fletcher Energy³Heads of Agreement

Company	NZ Power Stations		Business Development Projects	Research & Development Projects
South Island SOE	Tekapo A Tekapo B Ohau A Ohau B Ohau C Benmore Aviemore Waitaki Manapouri Cobb	25 MW 160 MW 264 MW 212 MW 212 MW 540 MW 220 MW 105 MW 585 MW 32 MW⁴	South Island hydro opportunities All NZ wind development opportunities Possible purchases of SI retail energy businesses made before 1.4.99 North Power retail CHB Power retail Waitaki Power retail Scanpower retail	ECNZ's interest in Ceramic Fuel Cells Ltd Superlink Joint Venture arrangements

1 Allocated on the basis of the Huntly SOE selling the same by June 2000.

2 Allocated on a basis which provides for ECNZ to continue to manage the Commerce Act litigation.

3 Allocated on the basis that Huntly SOE will assume responsibility for advancing the issue without prejudice to the status of the agreement.

4 Allocated on the basis of sale within 18 months of clearancefor sale.

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Printed: 25/11/2009