History
Genesis Energy began business on 1 April 1999, after the reform of the New Zealand electricity market and the breakup of the Electricity Corporation of New Zealand (ECNZ). It took over the Huntly Power Station, Tongariro Power Scheme and Waikaremoana Hydro Scheme from ECNZ, and the Hau Nui Wind Farm and the Kourarau Hydro Scheme from Wairarapa Electricity. It also inherited the retail arms of Powerco, Central Power and Wairarapa Electricity, while Powerco and Central Power concentrated on electricity distribution (the distribution arm of Wairarapa Electricity merged with Powerco on the same day).
During 2000 to 2002 Genesis Energy purchased several electricity and gas retailing entities, following changes to laws governing the electricity industry. These included electricity retail businesses of Todd Energy, and electricity and gas customers from NGC (now Vector Limited) and Energy Online.
Read more about this topic: Genesis Power
Famous quotes containing the word history:
“It takes a great deal of history to produce a little literature.”
—Henry James (1843–1916)
“There is no history of how bad became better.”
—Henry David Thoreau (1817–1862)
“We have need of history in its entirety, not to fall back into it, but to see if we can escape from it.”
—José Ortega Y Gasset (1883–1955)