Trustpower Ltd said on Thursday it would conduct a review of its retail business, as a shift to clean energy and changes in technology upend the electricity-generation industry.
The review will consider a sale of the unit, while also exploring the option to create a standalone power-generation business.
"Electrification and decarbonisation, decentralised energy, digital trends in service provision and utilities convergence are all shaking up traditional operating models," Chairman Paul Ridley-Smith said.
Infratil Ltd, the majority shareholder in Trustpower with a 51% stake, said that it was supportive of the review in a separate statement.
Trustpower, which supplies gas and telecommunications services to about 231,000 customers nationwide, said the review was expected to take months.
The move would also have key implications for major shareholder the Tauranga Energy Consumer Trust (TECT) as certain Trustpower customers receive rebates from the trust under a scheme.
TECT is assessing the impact of the review and developing a proposal that would focus on protecting the rebate for existing beneficiaries, it said in a statement. [https://bit.ly/2YhARp4]
(Reporting by Shruti Sonal in Bengaluru; Editing by Aditya Soni)
