Home > Giving Back to Consumers

GIVING BACK TO CONSUMERS

Northpower Electric Power Trust Dividends

In 1992 legislation was passed that required North Auckland Electric Power board to become a legal corporate entity. Northpower began its first year in 1993, with the Northpower Electric Power Trust (NEPT) holding 100% of the shares in the company, on behalf of the consumers.

Since then, the Trust has received an annual dividend from Northpower. The Trust can either reinvest the dividend in the company or redistribute it to consumers. The Trust maintains the philosophy of returning money back to consumers and has returned $56.7 million since 1993.

The dividends are the consumer’s share of Northpower’s profits. The Trust will continue to pass on the dividend so that the consumers directly benefit from the growing success of Northpower.

Northpower Line Charge Holidays

In addition to the Trust dividend, Northpower consumers also receive line charge holidays directly from Northpower.

The line charge holidays began in 1998. With phenomenal growth over the years Northpower has been well placed to give $56.6 million back to Whangarei and Kaipara consumers.