Friday 18th May 2012
|Text too small?|
Transpower New Zealand, the state-owned operator of the national power grid, has run $30 million over budget on its North Island grid upgrade, which is now forecast to cost $894 million.
The increase is largely due to the cost of construction of the overhead transmission line and the acquisition of associated property rights, the company said in a statement. The projected cost of $864 million had been previously disclosed in the Wellington-based company's half year report to Dec. 31.
The upgrade involves the construction of a 186km 400 kV capable overhead transmission line from Whakamaru, north of Lake Taupo, to Pakuranga in east Auckland. It's designed to provide a more secure and diverse power supply to the Auckland region.
In a separate Auckland project, Transpower is building a transmission ring around the City to reinforce the security of the power supply through to Northland. That project is forecast to come in below the set budget of $473 million, according to the company's annual report in April.
No comments yet
NZ dollar becalmed on US-China trade/politics nexus
Govt to pull Infrastructure Commission into Auckland port imbroglio
Wind to displace diesel for Stewart Island power
Eroad's five year target: doubling unit sales
Blinky boxes and gobbledegook: tips for choosing a cyber-security vendor
Govt support for NZME/Stuff merger difficult, not impossible, says Jarden
NZ dollar stalled; US-China trade signals remain mixed
Ryman warns NZ, Australia to take population ageing more seriously
MARKET CLOSE: NZ shares fall as US-China trade concerns weigh on markets; Ryman slips
NZ dollar stalled; US-China trade deal may be postponed