The national grid operator, Transpower, has more than doubled its half-year net profit, largely thanks to the link between the North and South islands now being fully operative.
The company has reported a 117 percent increase in net profit to $153.6 million for the six months to December, compared with $70.7 million for the same period a year earlier.
Chair Mark Verbiest says higher transmission revenue mostly reflects the full operation of the North Island grid upgrade.
The company has reduced the half-year dividend it pays to the Government by $32 million to $60 million.
