Trustpower flags write-down on generation assets as price expectations fall

By Paul McBeth
Feb. 11 (BusinessDesk) - Trustpower says it might have to write down the value of its generation assets by as much as $170 million after revising its view on future electricity prices.
A draft independent valuation indicates the Tauranga-based electricity retailer-generator will have to cut the value of its generation assets to $1.85-1.9 billion from about $2.02 billion from March 31, it said.
The adjustment will largely be on the balance sheet, hitting the company's equity, but chief financial officer Kevin Palmer said...
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