After years of delay and controversy, the Arnold River
hydro-electric scheme near Greymouth has been shelved
indefinitely because the economics "are not sufficiently
attractive'', according to TrustPower.
Trustpower needs to address falling customer numbers which,
along with falling usage per customer, are challenging the
company's flexible profit model, Craigs Investment Partners
broker Peter McIntyre says.
Electricity retailer and generator TrustPower yesterday
reported a slightly improved operating profit for the year
ended March, with the only minor surprise being a
1c-per-share bigger dividend.