US chief executive for line company

By DITA DE BONI

Line company UnitedNetworks will import a chief executive from the United States to replace Don Bacon, who is moving to Australia..

Dan Warnock arrives from Omaha to take up the reins at New Zealand's largest line company on February 7.

Mr Warnock's last position was with UnitedNetworks' US parent company, where he was senior vice-president of consolidated energy supply services.

UnitedNetworks is 79 per cent owned by Kansas-based UtiliCorp United.

Mr Warnock could not be reached yesterday but UnitedNetworks' manager of corporate communications, Avon Adams, said Mr Warnock had signalled the company would be "continuing in the same vein" through the change of chief executive.

UnitedNetworks continued to have a commitment to New Zealand and would not follow TransAlta's withdrawal from the market, she said.

"The company is actively looking into further investment opportunities in New Zealand. For example, we are still in [negotiations] over the Orion gas offer," she said.

Announcing the appointment, company chairman Bob Green put a positive spin on the likelihood of further political intervention to keep power prices down.

"UnitedNetworks is facing an exciting and challenging future as the Government looks to further regulation of the electricity industry," he said in a statement.