Transpower’s performance
Here you will find information on Transpower's performance. It is our summary and analysis of Transpower’s public disclosures under Information Disclosure regulation.
This report provides an overview of Transpower’s performance between 2015-2024, the latest year for which Information Disclosures by Transpower are available. It summarises and analyses financial information (revenue and profit), asset conditions, demand levels, and reliability trends.
You can access the full report below.
Key findings
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Declining revenue in real terms
Transpower’s revenue declined in real terms between 2015-2024, with a more sizeable drop after 2020 due to lower financing costs, which reduced allowable revenue under regulatory settings. -
Flat overall demand, rising peak demand
Total electricity transmission demand showed minimal growth, but peak demand has been rising since 2019 – likely driven by electrification due to decarbonisation and changing usage patterns. - Slow asset base growth
Transpower’s regulatory asset base (RAB) grew by only 10% between 2015-2024, reflecting only a few large investments by Transpower over the period. Most capital expenditure was directed toward refurbishment and replacement, rather than grid expansion. - Opex increasing since 2020
Operational expenditure was stable until 2020, but has been growing since – in all categories but particularly in insurance and IT costs. - Variable profitability
Transpower earned above-benchmark returns before 2020 due to lower-than-forecast costs. After 2020, returns fell below benchmark levels. - High reliability maintained
Transpower maintained high levels of reliability, with only a small number of supply interruptions lasting longer than one minute. Instances where assets were out of service for longer than expected did not result in customer interruptions.