MainPower Trust

The enactment of the Energy Companies Act 1992 required MainPower to become a company with a clear ownership structure and a Company Establishment Plan was developed for the purpose.

The MainPower Trust was established on the 24th of October 1995 to hold in trust the Qualifying Customers' and community's entitlement until such time as a distribution was made, and this is the situation right through to the present day.  It was agreed MainPower's Qualifying Customers would be entitled to 80% of the MainPower Trust Fund including the ordinary shares that the Trust held in MainPower. The community as a whole would be entitled to the remaining 20%.

By law, the MainPower Trust must be wound up no later than the 25th of April 2073. The MainPower Trust assets will, unless there has been a distribution and the Trust wound up at an earlier date, vest in a charitable trust that will be known as the MainPower Foundation.

The MainPower Trust is the organisation which holds the shares of MainPower New Zealand Limited. The Trust has seven Trustees.  Trustee elections are held every three years and Trustees are elected by the Qualifying Customers of MainPower.  To learn more about the Trust and Trustees, please visit www.mainpowertrust.org.nz

The Vision of the Trust

The vision of the MainPower Trust is to provide significant benefit to the customers of MainPower New Zealand Limited, who are our beneficiaries.

The Purpose of the Trust

The purpose of the MainPower Trust is to manage the shareholding of MainPower New Zealand Limited and other assets, for the benefit of qualifying customers.

Trustees of the Trust