Firstlight Network is sharing news that Powerco has entered into an agreement to purchase its electricity distribution business, which supplies power to the Tairāwhiti and Wairoa regions.
The change in ownership remains subject to meeting commercial conditions and gaining approval from the Overseas Investment Office (OIO). Until those steps are complete, it is business as usual for Firstlight Network’s customers, communities, and team.
George Drysdale, Firstlight Network Manager
Firstlight Network Manager George Drysdale says the sale agreement represents an opportunity to strengthen the network and continue delivering reliable service to the region.
“Our commitment has always been to provide safe, reliable, and affordable electricity for the people of Tairāwhiti and Wairoa,” says Mr Drysdale. “Powerco’s investment and expertise will support that mission, bringing additional capability while keeping our strong local presence.
Importantly, local people will continue to operate and maintain the network, people who understand our communities and care deeply about the region.”
Powerco’s investment reflects its commitment to strengthening regional electricity networks and supporting sustainable energy outcomes for local communities. With extensive experience operating across large and diverse regions, Powerco brings resources and capability that will complement Firstlight Network’s local operations and community knowledge.
The sale process will continue while regulatory approvals are sought. Firstlight Network will keep customers and community stakeholders informed as developments occur.
“We’re proud of the work our team does every day to keep the lights on and our communities connected,” says Mr Drysdale. “We’ll continue that focus throughout this process and into the future.”
For more information about Powerco and the sale agreement, visit the Powerco Firstlight Network FAQs page: powerco.co.nz/what-we-do/our-projects/firstlight-network
About Firstlight Network
Firstlight Network owns and operates the electricity distribution network that delivers power to homes and businesses across the Tairāwhiti and Wairoa regions. The company’s focus is on providing safe, reliable, and affordable electricity to the communities it serves, while maintaining a strong local presence and supporting the region’s growth and resilience.
About Powerco
Powerco is New Zealand’s largest dual electricity and gas distributor by network length, with over 473,000 homes, businesses, and industries connected to its networks. Its electricity network covers Coromandel to South Waikato, Tauranga and Mt Maunganui, Taranaki, Whanganui, Rangitīkei, Manawatū, and Wairarapa. Its gas network serves Taranaki, Horowhenua, Hawke’s Bay, Manawatū, Porirua, Hutt Valley, and Wellington. Powerco Limited is 49% owned by Australian Retirement Trust, managed by QIC Limited, and 51% owned by funds managed by Dexus.
Media contact:
Cressida Gates Thompson
027 703 6177
Cressida.Gates-Thompson@clarus.co.nz
