FAQs
Find answers to your question in these FAQs. Something else you want to know and can't find the answer here? Email us to ask a specific question.
What is the role of the trust?
The Waipā Networks Trust owns Waipā Networks Ltd on behalf of the electricity customers supplied by Waipā Networks Ltd. The Trust represents customers in respect of electricity industry matters, including but not limited to, proposed new legislation which may impact upon the electricity industry. The Trust appoints the directors who manage the Company.
How often are the trustees elected?
Every three years an election is held. The last Waipā Networks Trustee elections took place in October 2021, the next Trustee elections are scheduled to be held in October 2024.
Who elects the trustees?
The customers of Waipā Networks elect the Trustees by ballot during an election. Customers are entitled to one vote per network connection point.
How many trustees are there?
Every 3 years customers (the 40,000 or so customers Waipā Networks delivers power to) vote for up to six members for the Trust.
Who are the current Trustees?
The current trustees are Sarah Matthews, Judy Bannon, Ray Milner, David McLean and Marcus Gower.
How does the trust benefit it’s customers?
One of the advantages of Trust Ownership is customer discounts, ie. profits are retained by the community rather than going to external shareholders. The Trust believes it is important to promote energy efficiency and has funded several projects to benefit the customers of Waipā Networks.
Who runs Waipā Networks Ltd?
The Trust appoints the Company Directors for Waipā Networks Ltd, who are responsible for the running of the Company.
What discounts does the Trust grant?
The Trust, through the Statement of Corporate Intent, agreed to the Company introducing a discount/rebate regime commencing on 1 April 2001. In the last full financial year ended 31 March 2023 the Company granted discounts amounting to $6,146,738 to customers. Discounts for the twenty two year period 1 April 2001 to 31 March 2023 amount to $98,761,030.
What is the book value of the Trust?
The book value of the 7.2 million shares held by the Trustees at 31 March 2023 based on the shareholders funds value in the Financial Statements of Waipā Networks Ltd was $187,034,128.
40,000 customers
Approximately 40,000 customers are represented in Waipā and Kawhia.
$6,146,738
granted
Discounts received by customers in the year ended 31 March 2023.
6 elected
trustees
Every 3 years, customers vote for up to 6 members for the Trust. The next election is in 2024.
100%
owned
Waipā Networks is 100% owned by the Waipā Networks Trust, which appoints directors to manage the Company.
