Whangarei business leader elected to national body

Whangarei business leader elected to national body

Long time Northpower Electric Power Trust chairman Erc Angelo has been elected as an executive member of New Zealand’s national organisation for energy trusts.
Mr Angelo, who has been chairman of the NEPT since 1994, is now part of the Energy Trust of New Zealand, whose 22 member trusts have investments of more than $5 billion in lines companies throughout the country.

His appointment to ETNZ has been welcomed by its Executive Committee Chair Karen Sherry who says he brings invaluable experience to the group.

“It is pleasing to have Erc join the ETNZ as he has a wealth of experience and a very calm and astute manner of doing what is right for the people he represents – more specifically, the consumer owners of Northpower – which is exactly the job such Trusts are there to undertake,” says Miss Sherry.

Mr Angelo says the executive role is a good fit for the NEPT as the ETNZ works closely with the Electricity Networks Association which represents the interests of electricity lines companies like Northpower.

As a born and bred Northlander, Mr Angelo has been at the h
elm of the NEPT since 1994.

The Trustees of the NEPT appoint the Directors of the company and over the years the company Board of Directors have been instrumental in steering the success of Northpower.

“In my role as Chairman of the NEPT, along with the new involvement with ETNZ, it continues to be an exciting challenge and it is great to be able, along with all other trustees to provide the consumer owners of Northpower with the benefits the company’s ongoing progress and growth provides,” says Mr Angelo.
In that time, Northpower has grown from a company with annual revenue of $54m in 1993 to one with revenue of $242m in 2012.

“That in itself is a very pleasing growth curve and it shows that Northland owned companies can grow beyond our local market and become a force throughout New Zealand while also contributing positively to communities,” says Mr Angelo.

“I guess that is the beauty of the consumer owned model like Northpower – it works well. Growth in Northpower benefits the consumer owners of Kaipara and Whangarei.

Mr Angelo says Northpower is highly regarded within the New Zealand electricity sector.

“In the last financial year (2011/2012) Northpower profit lifted 26% to $9.6m, revenue rose 11% to $242.1m, the dividend paid by the NEPT to our consumer owners was up 27% to $3.8m and Northpower’s line holiday rebate to consumers increased 3% to $5.3 million.

“Along the way, a key contract was secured with Transpower, more contracts were secured in the Pacific Islands and our Australia operation had an improved financial performance.

“And of course Northpower Fibre is well advanced with Ultra-Fast Broadband fibre network it is constructing in Whangarei, which is really pleasing.”
As a chartered accountant operating in public practice for more than 20 years, Mr Angelo believes despite local businesses facing a challenging economic environment, there is good long-term scope for the region’s economic health.
“There is no doubt times are tough out there for some businesses because recessionary impacts have lingered longer than we’d all like. However, I believe the North is well placed as a strong growth region in New Zealand, especially with the progress of our local fibre build. That is going to have immense benefit for Whangarei and once people connect, they will see what a positive impact it can have on their operations,” says Mr Angelo.

ENDS

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