17 Apr 2013

Iwi negotiations over Lake Taupo progressing

7:17 pm on 17 April 2013

A central North Island iwi says negotiations are progressing with Mighty River Power to charge the hydro generator for using water from Lake Taupo.

Tuwharetoa owns the lake bed and has the right to charge commercial users, under its Deed of Settlement with the Crown.

The tribe wants Mighty River Power to pay several million dollars for use of the lake.

The Mighty River Power share offer began on Monday and 440,000 people have pre-registered their interest in buying shares in the state owned power company.

Tuwharetoa Trust Board chief executive Tamarapa Lloyd says it is confident an agreement over the use of the lake will be reached, and he is positive a resolution will be met.

Mr Lloyd won't say exactly how much the iwi wants for the use of Lake Taupo.