Powerco, one of the largest electricity and gas distribution companies in New Zealand, plans to invest up to NZ$1.4bn (US$1bn) upgrading the electricity networks supplying Coromandel, Eastern and Southern Waikato, Western Bay of Plenty, Taranaki, Whanganui, Manawatu, Tararua and Wairarapa on the North Island of New Zealand over a 5-year period starting on 1 April 2018.
The company will focus on replacing 27,500 poles and 1,600 km of overhead lines that were installed in the 1950s and 1960s. Funding the investment programme will require a small increase in the price Powerco charges for electricity. Powerco estimates the increase will be approximately $1 to $1.50 per household per week (US$0.72-1.08 per week). Powerco has prepared detailed regional investment plans to future-proof fast-growing areas such as Tauranga, as well as replacing old equipment in areas from Wairarapa in the south east, to Coromandel in the north and coastal Taranaki in the west. The company distributes electricity to more than 320,000 homes and businesses across the North Island.