Tūwharetoa Māori Trust Board has reached a long term agreement with Mighty River Power regarding Lake Taupo.
Mighty River Power’s Waikato hydro storage accounts for around 10& of New Zealand’s electricity supply and Lake Taupo is its primary source.
According to a statement released today this will allow the company to optimise performance of its hydro scheme.
Chairman of the Tūwharetoa Māori Trust Board, John Bishara, says the agreement will be beneficial to all involved. “This positive outcome reflects the mana Tūwharetoa holds as owners of the Lake Taupō lakebed and we look forward to working further with Mighty River Power. As far as the recreational and other lake users are concerned nothing changes.”
Mighty River Power Chief Executive, Fraser Whineray, says the agreement reflects the strong working relationship the Company enjoys with Tūwharetoa Māori Trust Board. “The Waikato is New Zealand’s most important water catchment, providing tremendous economic and societal benefits which we can grow for this country. Through this agreement we have both committed to working together into the future, and we look forward to those opportunities.”
Mr Whineray says Mighty River Power acknowledge Tūwharetoa as owners of the lakebed and the role they have as responsible stewards and business leaders in the community.
The agreement is for a period of 52 years and provides an enduring set of arrangements in relation to the operation of the Lake.