Trustpower (NZX:TPW) How did it perform in the second quarter?

Highlights

  • Recently, Trustpower delivered its quarterly operating report.
  • During the quarter, national storage improved greatly at 138% of average.

Providing an array of services related to internet, energy and phone Trustpower Limited (NZX:TPW) delivered its quarterly operating report.

Trustpower’s solar buddies

Source: © Fouquehdprod | Megapixl.com

Understanding TPW’s Q2 performance

During the quarter, national storage improved greatly at 138% of average. While, at the beginning of the quarter, storage was at 85%.

The future ASX calendar year prices have dropped since previous quarter. However, future prices continue to be strong. Also, spot prices have edged lesser across the quarter period.

Owing to a return to further usual stages of inflows, hydro generation volumes increased by 9% on pcp.

The stored water’s selective placement was followed by premium pricing over average prices for North and South Island generation volumes.

Across the quarter, all retail metrics kept on demonstrating positive impetus in spite of COVID-19 disturbance. Fibre uptake and pace, bundled consumers, mobile networks, products per consumer, and digital uptake, they all rose compared to the pcp.   

Related article; Is Trustpower (NZX:TPW) based in NZ? What are the recent deals struck by it?

Trustpower’s retail business sale received a nod from Commission

Last month, Commerce Commission had cleared Mercury NZ Limited (NZX:MCY; ASX:MCY) to purchase its retail business.

Trustpower’s sale comprise retail contracts to supply electricity, gas, fixed and wireless broadband and mobile phone services. TPW has around 234K clients throughout the nation.

At the time of writing, Trustpower was trading up by 3.05% at NZ$7.44, as on 15 October.

Bottom Line

Trustpower recently provided quarterly visions, wherein it noted hydro volumes better than pcp and national storage was on the upper side.

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