Frequently Asked Questions

Waiau Town, Hurunui District

MainPower Trust General Questions

When was the MainPower Trust (the Trust) established?

The Trust was established on 24th October 1995.

Why was the Trust established?

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

What is an ordinary share?

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

Who are the beneficiaries of MainPower Trust?

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

What is a Qualifying Customer?

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.

Do Qualifying Customers own shares?

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.

Who are the Trustees and how are they appointed?

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.

Meet The Trustees

What does it mean to be a Qualifying Customer?

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.

What role does MainPower Trust play in the governance of MainPower NZ Ltd?

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

What is the MainPower Foundation?

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.

What is the MainPower Customer Rebate?

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.

To learn more click here. 

MainPower NZ General Questions

What are the core activities of MainPower NZ Ltd?

The core business of MainPower New Zealand Limited is the distribution of electricity, focused principally in the North Canterbury and Kaikōura regions.

What is the current ownership structure of MainPower NZ Ltd?

100% of the ordinary shares are held by MainPower Trust.

Do You Have Any Other Questions?