Energy, Land & Environment Sector
Mighty River Power Ltd (Mighty River Power)
Mighty River Power was formed in 1999 following the break-up of Electricity Corporation of New Zealand Ltd. It is New Zealand’s third-largest generator, in terms of value of total assets, with a capacity to supply 15% of New Zealand’s annual load requirements and, over short periods, 22%
of peak demand. Its retail brand, Mercury Energy, supplies over
300,000 retail customers.
Website: www.mightyriverpower.co.nz (opens in a new window)
2010/12 Statement of Corporate Intent
(.pdf, 612kB)
Key Company Information
Key Company Data - Mighty River Power Ltd (Mighty River Power)
| Company Form | State-owned enterprise |
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| Year of Establishment | 1999 |
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| Head Office | Auckland |
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| Chair (term expiry) | Joan Withers (April 2012) |
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| Deputy Chair | Trevor Janes (October 2012) |
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| Board Membership | Dr Michael Allen (October 2012)
Diana Crossan (October 2010)
Jon Hartley (October 2012)
Prue Flacks (April 2013)
Sandy Maier (April 2012)
Tania Simpson (October 2010)
Keith Smith (April 2012) |
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| Executive Director | Dr Doug Heffernan |
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| Balance Date | 30 June |
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| Number of FTE Staff | 719 |
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Key Financial Data
Mighty River Power Ltd (Mighty River Power)
| Key Financial Data ($million) | 2004/05 | 2005/06 | 2006/07 | 2007/08 | 2008/09 |
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| Operating Revenue | 904.3 | 1271.3 | 1049.8 | 1479.2 | 1469.6 |
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| EBITDAF | 298.0 | 307.1 | 316.2 | 304.5 | 422.9 |
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| Net Profit After Tax | 121.2 | 100.8 | 112.4 | 111.0 | 159.6 |
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| Shareholder Equity | 2033.3 | 2097.7 | 2161.4 | 2257.7 | 2621.6 |
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| Assets | 2668.1 | 2708.4 | 2881.9 | 4058.0 | 4388.1 |
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| Dividends | 36.4 | 50.4 | 56.2 | 55.5 | 229.8 |
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| Return on Equity | 8.3% | 4.9% | 5.3% | 5.0% | 6.5% |
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| Return on Assets | 10.6% | 7.7% | 7.5% | 5.3% | 5.9% |
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| Gearing | 18.0% | 17.1% | 16.6% | 21.7% | 18.3% |
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Financial data correct as at 30 June 2009.
