Powerco is the second-largest gas and electricity company based in New Zealand. Powerco arose from the energy reforms in New Zealand in the 1990s. It can trace its history back to a number of local power boards and gas companies that operated throughout the North Island. It currently (as of May 2011) has nearly 420 000 home and business connections in the Coromandel Western Bay of Planty Hauraki Plains North-East and South Waikato Taranaki Wanganui Rangatikei Manawatu and Wairarapa.