Tauranga based electricity company TrustPower experienced a $23 million drop in its net profits during the six month period ending September.

TrustPower had a net profit of $59.7 million, compared with $82.4 million during the same period last year.

TrustPower chief executive Vince Hawksworth says three factors contributed to the drop; less wind at its South Australian wind farm, lower demand for electricity during winter due to warmer weather, and higher energy costs in the South Island.

'Those three things together have resulted in the first half of this year being lower,” says Vince.

He says that while the company has experienced a loss in the previous six months, he expects the profits to increase in the six month period that ends March 2011.

He believes the profits during the year to the end of March 2011 will be close to the results in the previous year.

'If the wind doesn't blow for another six months in South Australia that might be a bit of an issue.

'Overall I think, considering the market and climatic conditions and the competitive conditions; the result is satisfactory.”

TrustPower's earnings before interest, tax, depreciation, amortisation and fair value movements on financial instruments decreased by five per cent to $147.7 million from $154.9 million in the previous year.