Horizon Energy Distribution Limited (“Horizon Energy”) announces an audited net profit after tax of $1.94 million for the year ended 31 March 2013.  

Refer attached documentation.

30 May, 2013 - 16:25

Whakatane based lines business Horizon Energy Distribution Limited (“Horizon Energy”) supports the views of Ms Karen Sherry, the Chairperson of Energy Trusts of New Zealand (ETNZ) in calling for improved electricity regulation that ensure consumers receive the benefits.

17 May, 2013 - 14:59

Horizon Energy wishes to advise consumers that a recent failure of one of two power transformers at its Galatea substation has reduced the security of supply to the Galatea region.

Although the probability of a failure on the remaining transformer is low, customers can expect an extended outage of supply to the region in the event of a fault. Horizon Energy has taken steps to reduce the impact of any extended outage by sourcing and locating another transformer from Unison Networks, our neighbouring power company at Galatea.

16 May, 2013 - 12:40

Horizon Energy Distribution Limited (“Horizon Energy”) owns and operates the electricity distribution system (“Distribution Network”) in the Eastern Bay of Plenty. This is the physical infrastructure (e.g. Poles and Lines) that deliver electricity to your property. Horizon Energy’s charges relate only to the cost of providing the Distribution Network services. Horizon Energy is not your electricity Retailer.

Changes to Electricity Line Charges Effective 1 April 2013

20 February, 2013 - 10:04

Horizon Energy Distribution Limited’s (“Horizon Energy”) wholly owned subsidiary Aquaheat New Zealand Limited (“Aquaheat”) could, on currently available information, suffer a maximum pre-tax loss of $4 million ($2.9 million post tax) as a result of Mainzeal Property and Construction being placed into receivership. This loss will reduce the forecast after tax profitability of the Horizon Group to around $500,000 for the 2013 financial year, down from the recently announced $3.4 million.

15 February, 2013 - 11:19

Whakatane based lines business Horizon Energy Distribution Limited (“Horizon Energy”) advises the market that its 31 March 2013 year-end forecast after tax profit has reduced to around $3.4 million from its previously announced forecast of $4.3 million.

11 February, 2013 - 09:00

Horizon Energy Distribution Limited’s wholly owned subsidiary, Aquaheat New Zealand Limited is likely to incur a significant adverse financial impact arising from the announcement yesterday of the appointment of Receivers to Mainzeal Property and Construction Limited.

7 February, 2013 - 09:25

Attached is the Horizon Energy Distribution Limited 2012 Interim Report for the six months ended 30 September 2012.

13 December, 2012 - 16:23

The Commerce Commission has today announced a 2.9% reduction in allowable revenue for Horizon Energy Distribution Limited effective from 1 April 2013.

Horizon Energy Chairman Mr Rob Tait said “Although this price reset represents a significant improvement from the Commission’s draft decision in July 2011 of a negative 9.8% price reduction, the Company is disappointed that the Commission continues to use the 2010-2020 Asset Management Plan which does not reflect the Company’s increased investment plans”.

30 November, 2012 - 14:36

Horizon energy announces six month result for the six months ending 30 September 2012.

For more information see attached.

9 November, 2012 - 09:24

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