ENERGY TRUSTS OF NEW ZEALAND INC.
Press Release 3 November 2011

New Era for Owners of Electricity Lines Companies

At the Energy Trusts of New Zealand (ETNZ) conference in Wellington today ETNZ announced it has engaged the services of Jan Beange to assist ETNZ in its ongoing efforts to fully represent the interests of consumer-owners of most of the electricity lines companies in New Zealand.

Jan Beange is a consultant and lawyer who has previously served as an ETNZ Executive Committee member and professional advisor, assisting ETNZ evaluate and respond to electricity industry changes. She has senior governance experience in the electricity industry and local government. Her previous roles include Chairperson, Tauranga Energy Consumer Trust, Director TrustPower Limited and Mayor of Tauranga City.

Karen Sherry, Chairperson, ETNZ says "this appointment signals a new era for ETNZ. Our 21 member trusts own most of the electricity lines companies across New Zealand. They hold an estimated investment of over $5 billion in companies ranging in size from Vector with around 600,000 end users down to Buller Electricity with about 4,000".

While some Energy Trusts have deeds and responsibilities which are similar, many are varied. ETNZ trusts include community trusts, consumer trusts and have a mixture of appointed and elected trustees. Local ownership of lines companies allows local businesses, industry and the public to have input on critical issues like supply stability and pricing mechanisms for their local lines companies.

Energy Trusts are obliged to foster an environment that enables their lines companies to operate as successful businesses and they must do this within the two tiered regulatory regime administered by the Commerce Commission.

"ETNZ has the mandate to represent the interests of lines consumers and member Energy Trusts across New Zealand. With so much money at stake and so many New Zealanders affected by what we do it is critical we have the skills and resources needed to understand and respond to industry challenges and community needs", said Miss Sherry.

"Jan's role as Executive Officer will strengthen our ability to add value to our members, to engage with stakeholders and to influence industry change with central government politicians", said Miss Sherry.