Trustpower released its quarterly operating results for the quarter ended 31 March 2020

Wednesday 15th April 2020

Trustpower continues to operate well under current lockdown conditions:

• Trustpower is an essential service business and has the significant majority staff working remotely from home, supported by o ur recent investments in technology and capability, as well as business continuity plans.

• Customer contacts are being handled by agents from home, as well as dedicated staff remaining on site under strict health and sa fety conditions. Recent automation work and technology improvements mean in the two weeks post lockdown 92% of the 250,000 customer contacts could be handled by automated channels. In addition, Webchat volumes have doubled, and our overall satisfaction ratings are 93% . This is a positive indicator that ensuring our staff could work from home pre a crisis an d our investment in automation is ensuring our customers are well serviced during this time.

• Trustpower has been proactively contacting our most vulnerable customers to check their wellbeing, removed data caps for our bro adband customers, and taken a number of other proactive steps to ensure our customers facing hardship will continue to have the services and support that they need at this unprecede nte d time.

• Payments and invoices are being processed remotely with no delays.

• Our generation stations are continuing to perform well, our focus remains on turning around both planned and unplanned outage s w hich are at expected levels. We are also working through our planned maintenance and compliance activities as scheduled.

• Domestic electricity demand is showing a significant increase however this is more than offset by decreases in SME and commer cia l/Industrial usage. Total national demand is down around 15%.

• Our ISP network has seen significant increases in data demand from people working from home (and increased streaming). The ne two rk has more capacity headroom and continues to provide a reliable and consistent service.

• There has been a reduction in actual and forward wholesale electricity prices, particularly in the short term. Trustpower’s r obu st risk mitigation framework is expected to minimise any potential downside to our trading position.

• We continue to monitor and assess all metrics across the business, including cash collection and credit.

• Our strong balance sheet ensures we are well positioned if adverse conditions impact cash flow or profitability.

For full report please see the link below

TRUSTPOWER_QUARTERLY_OPERATING_REPORT.

Comments from our readers

No comments yet