2022 Northpower Ownership Review
Published 14 April 2022
The Northpower Electric Power Trust (NEPT) is encouraging consumers connected to Northpower’s electricity network in Kaipara and Whangārei to now make submissions on the ownership model of the company. Northpower Electric Power Trust Chair Erc Angelo says people have until 4pm on April 28 to have their say on the five yearly Northpower Ownership Review.
Public meetings to discuss the Ownership Review were held in March at Dargaville, Mangawhai and Whangārei, along with a Zoom meeting.
The Northpower Electric Power Trust (NEPT) Deed requires that options for the future ownership of shares in Northpower be reviewed every five years,” says Mr Angelo. "The Trustees of the Northpower Trust must carry out a consultation process with Northpower consumers to determine if the current Trust ownership structure is what consumers want, or if consumers would prefer a change.”
People can make submissions by emailing nept@plusca.co.nz or by collecting a submission form and ownership review document from Plus Chartered Accountants at 134 Bank Street, Whangārei. Alternatively, people can call Brent Martin or Julie Noel at Plus Chartered Accountants on 09 438 3322 or email nept@plusca.co.nz to request an information pack. The Ownership Review document is available at Plus Chartered Accountants or at www.northpower.com
People wanting to speak to their submission can do so at a public hearing at 11am on Thursday May 26 at McKay Stadium (Sport Northland, 97 Western Hills Drive, Whangārei).
A meeting of Northpower Electric Power Trust Trustees and Northpower Directors will be held on Thursday, June 9 at Plus CA Pavilion at 11am, where a decision on the ownership review will be made. This meeting is open to the public for observation only.
Currently, seven Trustees Erc Angelo (Chair), Sheena McKenzie (Deputy Chair), Chris Biddles, Irene Durham, Phil Heatley, Bill Rossiter, and Paul Yovich hold all of the shares in Northpower on behalf of the Trust's beneficiaries (electricity consumers connected to the Northpower electricity network).
In 1992 the government passed legislation that required Northpower to become a company. When the company was incorporated in 1993, the Trust was formed to hold all the shares in Northpower on behalf of electricity consumers connected to the Northpower electricity network in Kaipara and Whangārei. This resulted in the ownership of the Company remaining in the community.
