Consumer Benefits
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 this amount in the company or redistribute it to consumers. The Trust maintains the philosophy of returning money back to consumers and has returned over $70 million since 1993.
The Trust will continue to pass on the amount so that the consumers directly benefit from the growing success of Northpower.
Northpower Line Charge Holidays
In addition to the Trust distribution, 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 over $70 million back to Whangarei and Kaipara consumers.
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