Network Tasman Trust holds all the shares in Network Tasman Limited on behalf of its consumers. Network Tasman Limited owns the regional electricity distribution systems covering the area from Lewis Pass in the South to
Kahurangi Point in the North West and Grahams Point in the North East with the exception of that portion of Nelson City, which falls within the pre 1940 city boundaries.
The Trust also has a capital investment fund arising from the proceeds of the sale of the Company’s energy retailing division.
The Trust is managed by six Trustees who serve six-year terms with the right to be re-elected. The Trustees are elected by the consumers with three trustees retiring by rotation at three yearly intervals.
The Company is required by the Energy Companies Act 1992 to operate as a commercially efficient organization and achieve rates of return set out in its Statement of Corporate Intent. By achieving its targets the Company is able to give an annual discount to consumers and pay a dividend to the Trust.
The Trust uses its income from the dividend and the investment funds in the following ways:
| v | To meet the running costs of the Trust. |
| v | To maintain the value of the investment fund. |
| v | Allocate approximately $100,000 per annum to be distributed by way of grants and loans to consumers/community organisations within the Company’s distribution area. |
| v | To make an annual distribution to consumers. |
Left-Right: Albie
Aubrey, Terry Kreft, Trevor Tuffnell, Ted Anderson,
Gwenny Davis, Nathan Fa'avae