Frequently Asked Questions

The Trust was established on 24th October 1995.

The Trust was established to hold ordinary shares in MainPower NZ Ltd on behalf of its beneficiaries.

An ordinary share gives usual shareholder rights to the Trustees, including voting rights.

The beneficiaries are customers referred to as Qualifying Customers and, when established, the MainPower Foundation.

In general terms, anyone who is a customer of MainPower NZ Ltd with premises connected to the MainPower NZ distribution network. The one exception to this, is those customers with premises that were previously supplied by the Kaiapoi Electricity network.

Qualifying Customers hold preferential “rebate” shares which have no voting rights but do entitle the holder to a rebate from MainPower NZ Ltd that reduces the charges payable for MainPower’s distribution line services.

Trustee elections are held every three years, and prior to each election up to three Trustees will retire (generally the longest serving), although they can stand for re-election if they wish. In certain circumstances a special election may be required. The Trustees are elected by the qualifying customers.

Qualifying Customers receive a rebate on the cost of MainPower’s electricity distribution services, known as network charges. This rebate is passed on via electricity retailers, though it is not always clearly shown on the bill.
Kaiapoi customers receive a discount on their electricity bills equivalent to the rebate. This is also passed on via electricity retailers.

The Trustees appoint the Directors of MainPower NZ Ltd and monitor their performance.

The MainPower Foundation is a charitable trust that will be formed if there is a capital distribution, or if the Trustees decide to distribute 20% of MainPower capital distribution for the benefit of the community.

MainPower is a consumer-owned company. The rebate is passed onto all retailers on the MainPower network and is generally shown as a discount on customers’ monthly power bills. Some retailers choose not to show this rebate as a separate item on their invoices, instead the rebate is bundled with other charges.

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