Editing New Zealand electricity market (section)

===Generation companies===
The [[electricity sector in New Zealand]] is dominated by five generators, which are Contact Energy, Genesis Energy, Mercury Energy, Meridian Energy, and Trustpower.  These are all active in generation, the wholesale market and retail sales of electricity.  Between these five companies they produce or control more than 95% of NZ's total electricity generation.

{| class="wikitable sortable" style="margin:auto;"
|+New Zealand Generating Companies
!Company!!Capacity MW!!Generation GWh!!Revenue!!Employees!!Customers!!Ownership
|-
|[[Contact Energy]]
|style="text-align: right"| 2,022<ref name="EnergyNZ2015">{{cite web| url=http://www.mbie.govt.nz/info-services/sectors-industries/energy/energy-data-modelling/publications/energy-in-new-zealand| title=Energy in New Zealand 2015| publisher=MBIE| date=August 2015| access-date=19 January 2016| archive-url=https://web.archive.org/web/20160215114526/http://www.mbie.govt.nz/info-services/sectors-industries/energy/energy-data-modelling/publications/energy-in-new-zealand/| archive-date=15 February 2016| url-status=dead}}</ref>
|style="text-align: right"| 9,514<ref name="ContactAnnualReport2015" />
|style="text-align: right"| 2,443m<ref name="ContactAnnualReport2015">{{cite web|title=Annual Report 2015| url=https://www.contact.co.nz/cenergymedia/contactenergy/files/pdfs/corporate/cen-fy15-financial-statements.pdf| publisher=Contact Energy| date=17 August 2015}}</ref>
|style="text-align: right"| 1,160<ref name="ContactAnnualReport2015" />
|style="text-align: right"| 429,556<ref name="EAmarket" />
||Public Ownership
|-
|[[Genesis Energy Limited|Genesis Energy]]
|style="text-align: right"| 1,942<ref name="EnergyNZ2015" />
|style="text-align: right"| 6,699<ref name="Genesis2015">{{cite web| url=https://www.genesisenergy.co.nz/annual-reports| title=Annual Report 2015| publisher=Genesis Energy| date=4 September 2015}}</ref>
|style="text-align: right"| 2,098m<ref name="Genesis2015" />
|style="text-align: right"| 931<ref name="Genesis2015" />
|style="text-align: right"| 531,011<ref name="EAmarket" />
||Mixed Ownership Model (Public/Private)
|-
|[[Meridian Energy]]
|style="text-align: right"| 2,654<ref name="EnergyNZ2015" />
|style="text-align: right"| 13,332<ref name="MeridianAnnualReport2015" />
|style="text-align: right"| 2,904m<ref name="MeridianAnnualReport2015">{{cite web| url=https://www.meridianenergy.co.nz/investors/reports-and-presentations/annual-results-and-reports| title=Annual Report 2015| publisher=Meridian Energy| date=11 September 2015}}</ref>
|style="text-align: right"| 820<ref name="MeridianAnnualReport2015" />
|style="text-align: right"| 279,616<ref name="EAmarket" />
||Mixed Ownership Model (Public/Private)
|-
|[[Mercury Energy]]
|style="text-align: right"| 1,556<ref name="EnergyNZ2015" />
|style="text-align: right"| 6,563<ref name="MRP annual report 2015" />
|style="text-align: right"| 1,678m<ref name="MRP annual report 2015">{{cite web| url=http://www.mightyriver.co.nz/PDFs/Results/Annual-Reports/Mighty-River-Power_Annual-Report-2015.aspx| title=Annual Report 2015| publisher=Mighty River Power| date=16 September 2015| url-status=dead| archiveurl=https://web.archive.org/web/20160121205805/http://www.mightyriver.co.nz/PDFs/Results/Annual-Reports/Mighty-River-Power_Annual-Report-2015.aspx| archivedate=21 January 2016}}</ref>
|style="text-align: right"| 800<ref name="MRP annual report 2015" />
|style="text-align: right"| 390,999<ref name="EAmarket" />
||Mixed Ownership Model (Public/Private)
|-
|[[Trustpower]]
|style="text-align: right"| 593<ref name="EnergyNZ2015" />
|style="text-align: right"| 2,216<ref name="Trustpower2015">{{cite web| url=http://www.trustpower.co.nz/~/media/files/financial%20reports/trustpower%20financial%20statements%20year%20end%2031%20march%202015.pdf| title=Financial Statements 2015| publisher=Trustpower| date=15 May 2015}}</ref>
|style="text-align: right"| 993m<ref name="Trustpower2015" />
|style="text-align: right"| 628<ref name="Trustpower2015" />
|style="text-align: right"| 258,118<ref name="EAmarket" />
||Public Ownership
|}

All of these five companies are listed and traded on the NZX stock exchange. The New Zealand government has 51% ownership of Genesis, Mercury, and Meridian. Contact is also traded on the ASX Australian exchange.

There are a number of smaller companies in the electricity generation industry including [[WEL Networks]], NZ Windfarms, [[New Zealand Energy Limited|NZ Energy]], [[MainPower]], Pioneer and Top Energy.

The retail space is dominated by the five generating companies. The generation and retail companies use this [[vertical integration]] as a natural [[hedge (finance)|hedge]] to manage risks associated with volatility of the spot market. For example, during a dry year, the high prices in the wholesale market price benefit the generation arm but hurts the retailers who buy at wholesale prices and sell electricity to consumers at fixed prices; when prices are low, the loss of profits in the generation side is offset by the profits in the retail business.

These five companies have now extended their risk management strategy further by aligning their retail and generation businesses to the same geographic locations. For example, the majority of Meridian Energy's generation assets are in the South Island, and that's where their retail strongholds are. Mercury Energy's generation assets are exclusively in the North Island, and its customer base is also primarily in the North Island.