Powerco is a New Zealand electricity and gas distribution company. It operates networks in the North Island and is one of two companies in the country (the other being Vector) that distribute both electricity and natural gas. As of 2024, Powerco’s electricity network spans approximately 29,200km (18,100mi), while its gas network includes about 6,300km (3,900mi) pipelines. The company serves around 360,000 electricity and 113,000 gas counsumers.
April 1993 - New Plymouth Energy (the electricity division of the New Plymouth District Council) merges with Taranaki Electricity (former Taranaki Electric Power Board) to become Taranaki Energy Limited.
1994 - Taranaki Energy acquired the Hawera Gas Company.
October 1995 - Taranaki Energy Limited merges with Wanganui-based Powerco (the former Wanganui Electric Power Board) to become Powerco Limited.
September 1997 - Powerco acquires Hawera based Egmont Electricity.
April 1998 - Government pass Electricity Industry Reform Act. PowerCo decided to become a "network business" (or lines company), and the following changes are made:
Electricity Retail Business (customer base) sold to Genesis Power
Gas Retail Business sold to Natural Gas Corporation
Natural Gas Corporation's Taranaki gas networks sold to Powerco
Powerco's five hydro power stations sold to TrustPower
Powerco purchases Wairarapa Electricity's network business (formerly part of the Wairarapa Electric Power Board)
August 2000 - Powerco merged with CentralPower (itself formed by the merger of CentralPower (for former Manawatu-Oroua Power Board) and ElectroPower, the former electricity division of Palmerston North City Council).
June 2001 - Powerco purchases the Hutt Valley and Porirua gas networks from AGL.
February 2002 - Powerco purchases the electricity assets of United Networks Limited in Tauranga, Eastern and Southern Waikato, Thames and Coromandel, plus gas networks in Wellington, Horowhenua, Manawatū and Hawke's Bay.
2004 - Powerco purchased Siemens Energy Services' Tauranga based contracting division
November 2005 - Powerco sold its New Zealand field services contracting business to Tenix Alliance
2008 - Divestment of Powerco Australia Group (Tasmania gas distribution) to Babcock & Brown Infrastructure.
October 2025 - Powerco confirmed intentions to buy Firstlight Network, the electricity distribution business serving the Gisborne and Wairoa districts, from Clarus. The purchase is subject to regulatory approval.