Friday, 24 May 2013
Horizon Energy Distribution Ordinary Shares
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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.
Horizon Energy Chairman, Mr Rob Tait says "that the evolution of the
regulatory regime for electricity has created an environment which allows
some generators and retailer
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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,
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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.
Horizon Energy Chairman, Mr Rob Tait says "the reduction is due to additional
transmission costs; provision made for a Commerce Commission required price
reduction; forecast operating loss
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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.
"Aquaheat is owed money on a number of contracts with Mainzeal. The actual
financial position is currently being assessed by Aquaheat''s management
however it is clear ther
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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.
"Aquaheat is owed money on a number of contracts with Mainzeal. The actual
financial position is currently being assessed by Aquaheat''s management
however it is clear ther
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Horizon Energy Distribution Limited has provided a copy of its Interim Report
for the six months ended 30 September 2012.
End CA:00231088 For:HED Type:INTERIM Time:2012-12-13 16:18:18
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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
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9 November 2012
HORIZON ENERGY ANNOUNCES SIX MONTH RESULT
NZX listed electricity distribution Company Horizon Energy Distribution
Limited has announced an unaudited net profit after tax of $2.5 million for
the six months ending
30 September 2012. This result compares to a net profit after tax of $3.03
million for the six months to 30 September 2011.
Horizon Energy Chairman, Mr Rob Tait says "the after tax profit for the half
year h
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HORIZON ENERGY DISTRIBUTION LIMITED COMPLETES ACQUISITION OF THE CONTRACTING
ARM OF HASTIE''S NEW ZEALAND HEATING, VENTILATION, AND AIRCONDITIONING
BUSINESSES
Whakatane based lines business; Horizon Energy Distribution Limited ("Horizon
Energy") is pleased to announce that it has successfully completed the
purchase of the contracting Heating, Ventilation and Air-conditioning
businesses of Hastie New Zealand Limited and Aquaheat Industries
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Following receipt of the Commerce Commission''s draft electricity distribution
default price decision to reset prices charged by electricity distribution
businesses, Horizon Energy Distribution Limited Chief Executive Ajay Anand
responded to say that "Horizon Energy would review the information released
from the Commission and would make further submissions to the Commission
regarding some aspects of the proposed price reset. The reset will
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