The sale of state-owned electricity assets to a new state-owned enterprise, the Electricity Corporation of New Zealand (Electricorp or ECNZ), took place in April 1988. It was celebrated by the symbolic handing over of a cheque for $6.3 billion to Minister of State-owned Enterprises Richard Prebble and Finance Minister Roger Douglas. Electricorp chair John Fernyhough is on the right. Electricorp was easily the largest of the state-owned enterprises created in the late 1980s.
Te whakamahi i tēnei tūemi
Alexander Turnbull Library, Dominion Post Collection (PA-Group-00685)
Reference: EP/1988/1693/20a
by Ross Giblin
Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.