In a statement updated today on its website, KCE says its board recently completed a strategic evaluation of business, together with an outline of the options available for maximising shareholder value.

As part of that evaluation, the company had commissioned a consulting firm to assess the market value of the company under different scenarios, but KCE said no decisions had yet been made regarding any alternatives.

Last Wednesday the board voted unanimously to retain all assets and to continue its current direction as a local energy supplier, including its application for listing on the NZAX (New Zealand Alternative Market, a division of the stock exchange).

KCE chairman Tony Palmer expressed the board's confidence in the future of the company, which is the predominant generator/electricity supplier in the small Waipa, Waitomo and King Country areas of the central North Island.

Rumours have surfaced at various times since last May - when Todd Energy exited the retail gas and electricity markets - that the largest private Kiwi energy company would also get out of any involvement in small cogeneration, hydro and geothermal generation through its associate or subsidiary companies such as KCE.

Todd Energy chief executive Richard Tweedie was unavailable for comment today.