Guy welcomes good result for Electra
Otaki MP Nathan Guy has welcomed the strong results achieved by local electricity company Electra, after attending their recent AGM.
“It’s very pleasing that this locally owned company has continued to do well, despite a tough economic climate. Their annual report for 2010/2011 shows that revenue has grown by 9% to $75 million, which has allowed a sales discount of $7.9 million to local customers.
“The Government’s upgrade of the rail network, including double-tracking and electrification to Waikanae, has had a positive impact on the lines company.
“Two new substations were built to accommodate the rail development at Otaihanga and Waikanae, and Electra carried out important work on the new railway stations at Paraparaumu and Waikanae.
“The Annual Report notes a number of regional developments underway, including the Kapiti expressway and the Paraparaumu Airport redevelopment, which will present positive challenges.
“It’s very pleasing that Government investment into Kapiti and Horowhenua is having flow-on benefits for local businesses and consumers,” says Mr Guy.
Electra Ltd owns and operates the electricity network throughout the Horowhenua and Kapiti, covering 1700 square kilometres with 42,483 customers. It has been owned by the community for over 70 years.