$80 shareholder reward to every Northpower consumer

$80 shareholder reward to every Northpower consumer

Every Northpower electricity consumer in Kaipara and Whangarei districts is to receive $80 from the Northpower Electric Power Trust.

57,000 people in Kaipara and Whangarei will receive a total of more than $4.5 million with the Trust distribution appearing as a credit on December or January power accounts.

In total, the Northpower Trust has given almost $100 million to Northpower consumer shareholders.

Spokesman Steve Macmillan says the distribution is courtesy of a shareholder dividend paid by Northpower to the Trust.

“Northpower consumer shareholders will receive the credit no matter which electricity retailer they are with.”

The distribution coincides with the announcement of the Northpower Trust line-up following Trustee elections which are held every three years.

Erc Angelo and Richard Drake have been re-elected Chairman and Deputy Chairman respectively. They are joined by incumbent trustees Ross Provan, Bill Rossiter, Irene Durham and Sheena McKenzie and newcomer Paul Yovich.

Mr Angelo says the appointment of Paul Yovich follows the retirement of Tony Davies-Colley after two terms as a trustee.

“I want to thank Tony for his valuable input and contribution over the past six years and welcome Paul to the role of Trustee,” says Mr Angelo.

“The Trustees have a significant role over the next three years in ensuring we support the Northpower company Board Chair and Directors with such a fast changing electricity sector and the opportunities that could well arise around ultra-fast broadband, EVs and other technologies.

“Following the appointment of two additional Directors due to join the Board from February 1, 2017, the Trust is very confident that we have the Board members in place to provide the leadership required to successfully continue operating Northpower and Northpower Fibre businesses - and to embrace the exciting challenges that the future will provide.”

The new Director appointees, Phil Hutchings and Laurie Kubiak, will bring a wealth of international contracting and commercial innovation experience.

ENDS

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