Electricity business split

Change is afoot at NetCon Ltd - the electricity contracting business jointly owned by Network Waitaki and Alpine Energy.

Network Waitaki chairwoman Clare Kearney said it had been decided the formal arrangement between the two companies should be superceded by an informal arrangement, with Timaru and Oamaru operations owned by their respective networks.

The change would come into effect from October 1, with NetCon in the Waitaki district becoming Network Waitaki Contracting Ltd, while it would continue to be known as NetCon in Timaru.

The joint company was established in 2000.

The aim was to make the transition seamless and it would be "business as usual", Mrs Kearney said.

There was a commitment from both Alpine Energy and Network Waitaki to continue to work together as closely as possible and share resources where required.

The change came because of the expectations of shareholders in meeting changing demands and opportunities in each network.

It was seen as a positive move.

Network Waitaki Contracting Ltd would come within the governance of Network Waitaki.

There were about 18 staff in the Network Waitaki area.

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