I like Hydro - it really is the most inexpensive form of electricity generation bar none. That's only true of course if the hydro plant's capital costs are fully paid off, because levelled over a lifetime of up to 200 years just about everything looks cheap.

And so there's a lot to be said in holding mature hydropower generating assets, which may be why Infratil has just taken a majority holding in Trustpower.

New Zealand receives 70% of its power from hydro and as a young country that encourages skilled immigration, I doubt very much that there will be any let up in demand for Trustpower.