NEWS RELEASE 8 April 2016 NZX: MRP
ASX: MYT
MRP appoints UGL as Head Maintenance Contractor Mighty River Power has appointed UGL (NZ) Limited as the Company’s maintenance contractor across its geothermal and hydro operations. Phil Gibson, GM of Hydro and Wholesale, said UGL was appointed following a commercial tender process, during which UGL demonstrated clear capability as Mighty River Power’s maintenance partner. UGL’s five year contract (three years plus two year option to extend) begins 1 July 2016. Mr Gibson said the Company carried out a review of its maintenance contracts to have improved efficiency and delivery across both geothermal and hydro, which are currently managed separately across seven different contracting firms. “Having a single primary maintenance partner will lead to improved efficiencies and greater consistency across safety and processes, as well as cost savings,” Mr Gibson said. UGL will be working closely with ABB, Mighty River Power’s current maintenance contractor for hydro operations, between now and July to ensure a smooth transition. ABB has been a valued contractor to Mighty River Power for over 15 years, producing high quality work, and the Company will have an on-going service provider agreement with ABB for special projects that are put out for tender. ENDS
For further information: Marie Winfield Communications T 0272 105 337
Tim Thompson Investor Relations/Treasury T 0275 173 470
Mighty River Power is a company with a great New Zealand heritage, and a leader in meeting this country’s energy needs with the flagship retail brand Mercury and other specialty brands. Every year the hydro and geothermal power stations operated by Mighty River Power generate enough renewable electricity for about 1 million New Zealand homes. Mighty River Power was listed on the New Zealand Stock Exchange (NZX: “MRP”) and the Australian Stock Exchange (ASX: “MYT”) in May 2013 and has New Zealand’s largest ownership base of nearly 100,000, alongside the Crown as majority owner.