Wellington, Sept 28 NZPA - A cold winter has seen Bay of Plenty electricity lines company Horizon Energy Distribution bump up its forecast after tax profit from $4.5 million to around $6m.

The increased forecast profit, for the year to the end of March 2010, was a result of increased revenue, cost savings, and gains on the company's interest rate derivatives, said chairman Rob Tait.

Revenue was up because of increased electricity consumption during the relatively cold 2009 winter, he said.

Normal consumption levels are forecast to the end of the financial year.

The company's half year result and interim dividend will be announced at the end of November.