Tonga Power Limited

logo-tonga-powerBoard of Directors

Mr. Carl Sanft    
Position Chairperson  
Expiry Date
Dr. Nailasikau Halatuituia    
Position Board Member  
Expiry Date
Ms. Fuiva Kavaliku    
Position Board Member  
Expiry Date
Mr. Sione Havea Taione    
Position Board Member  
Expiry Date
Mr. ‘Aisake Tu’iono    
Position Board Member  
Expiry Date

Tonga Power Limited is part of the Utilities group and its board of directors are shared with Tonga Water Board and Waste Authority Limited. The shared board was originally appointed for a one-year term.

Activities

Tonga Power Limited was established in 2008 through the acquisition of the power assets formally owned by the Shoreline Group. The Act governing the operations of Tonga power is the Electricity Act 2007. Pursuant to Section 20 of that Act, Tonga Power Limited (TPL) has been granted a concession to generate and supply power throughout Tonga. While the Concession is for an open period, it can be terminated by the Government upon giving not less than three and not more than six months notice prior to the Reset Date. The first Reset Date was 2015 and the company successfully negotiated a new Reset Date, expiring in 2020.

The SOE has two operating subsidiaries, Home Gas Limited and Tonga Gas Limited, the latter was acquired in 2015. Home Gas Limited was purchased from Tonga Investments Limited, which was another SOE.

Tonga Power paid the government a dividend of T$2 million in 2015. Dividends paid since 2010 total T$7.2 million.

The government has set a target to achieve 50% of electricity generation from renewable energy sources by 2020. As at 30 June 2015 renewable sources comprise 8.9% of electricity generation.  Tonga Power is regulated by the Electricity Commission.

Vision and Mission

Safe, reliable and sustainable and affordable service to the people of Tonga.

Financial Highlights

Financial Highlights (T$’000) 2014 2015 2016 5-yr Average
Revenue 54,348 49,211 51,622 48,027
Net Profit After Tax 2,655 1,904 0 3,520
CSO payments 0 0 0 0
Total Assets 94,335 127,298 133,614 83,860
Total Liabilities 38,503 71,462 75,172 33,610
Shareholders’ Funds 55,833 55,836 58,441 50,250
ROE % 5.0% 3.0% 0% 7.2%
ROA % 3.0% 1.0% 0% 4.9%
Asset Utilization 58% 39% 57%
Cash / Current liabilities 0.726 0.371 0.357

Important Documents

Website