Scanpower Customer Trust

Scanpower Customer Trust

Shareholders of Scanpower, Elected by the Community _

Scanpower Customer Trust

The Scanpower Customer Trust was formed in 1993 as a consequence of the passing of the Energy Companies Act 1992. The five Trustees hold the shares of Scanpower Limited on behalf of customers connected to the company’s electricity network. While the Trustees have no day-to-day input into the management of Scanpower, they are diligent in ensuring that the best interests of customers are served.

The Trustees appoint Directors to the company’s board. They also review in advance and approve the company’s annual Statements of Corporate Intent. These statements set out the guidelines that the company agrees to operate within, and its annual performance targets. The Directors report to the Trustees on a formal basis twice per year, in addition to providing monthly updates and board minutes.

The Trust works in harmony with the Directors to ensure that a secure and reliable supply of energy is delivered throughout the district at a price that is acceptable to the customer. The Chief Executive of the company attends meetings of the Trust in a relationship management capacity.

The Trust ensures the cost of electricity to customers is minimised by directing Scanpower to distribute any financial surplus back to the customers in the form of discounts on an annual basis. Scanpower Limited also pays a annual dividend to the Trust that is solely intended to cover its costs of operation.

The ownership structure of Scanpower is reviewed periodically by the Trustees of the Scanpower Customer Trust. The most recent review was completed in December 2023 and highlighted a 98.1% customer preference for retaining the status quo. Correspondingly, the Trustees concluded that the current trust ownership model would continue at least until the time of the next review, which will occur no sooner than December 2030 and no later than December 2032. A copy of the 2023 Ownership Review Report can be downloaded from this page under the Trust Disclosures section.

Elections for all positions on the Trust are held every three years. The next election will take place in April 2027.

Scanpower Customer Trust is a member of the Energy Trusts of New Zealand. At ETNZ website (www.etnz.org.nz) are links to the sites of other customer trusts in New Zealand.

 

Trustees

Myles McKeefry (Chair). Myles has been a Trustee since 2015 and is currently the Chairperson. He is a dairy farmer in Woodville with over 30 years of local farming experience in the Woodville and Dannevirke areas. Myles, who graduated from Massey University with a BRP degree, has a corporate background and has previously held roles at Ernst & Young, AMP Investments, and Lion Nathan. He brings valuable skills from his corporate and farming experience to his role as Trustee, advocating for Scanpower to remain a customer-owned business and committed to local representation.

Rowena Bowie (Deputy Chair). Rowena has been a Trustee since 2012 and currently serves as Deputy Chairperson. With a career spanning 30 years in law, she now works part-time for MCI & Associates Accountants while also instructing at Activate Gym and the CACTUS program. Rowena is deeply committed to community involvement, having served in various volunteer roles across different organisations. She believes in Scanpower’s objectives of community growth and development, emphasising the importance of a secure and reliable electricity distribution network.

Keith Cammock. Keith has been a Trustee since 2003. He has resided in Dannevirke for over 40 years and has primarily been engaged in farming in the Waitahora district. Additionally, Keith has served as Chair of the local School Board for six years and has been involved with the Ruahine Work Trust. Throughout his tenure, he has dedicated himself to understanding the electricity industry so as to represent consumers better, advocating for the company to remain in trust ownership, and ensuring that company profits benefit both Scanpower’s consumer-owners and the wider community.

Moira Paewai. Moira was elected as a Trustee in 2024. A native of Dannevirke, she has a longstanding career in the accountancy profession, having worked locally as well as in Christchurch, Hamilton, and London. Moira holds a Bachelor of Commerce majoring in Accountancy from the University of Canterbury and is a Fellow Chartered Accountant of CAANZ, recognised for her distinguished membership and voluntary community work. Additionally, she is a Chartered Member of the NZ Institute of Directors. Her governance roles include Pukaha Mt Bruce Wildlife Centre, Rangitane o Tamaki Nui a Rua Iwi, and the Harwood Farm Charitable Trust. With 12 years of experience at MCI & Associates, Moira continues to work there part-time.

George Philip. George was elected as a Trustee in 2024. He is a shareholder and director of his intergenerational family sheep and beef farm near Weber, where he works alongside his family members. Before returning to farming, he worked as a rural banker and as an accountant, remaining a Chartered Accountant. George is actively involved in the community, serving as treasurer for Angus New Zealand, the Weber Community Committee Incorporated, the Weber Domain Board, and the Weber Volunteer Fire Brigade. He is passionate about contributing to the betterment of Dannevirke and Weber through both his business and community roles.

Scanpower Customer Trust Disclosures

Statement of Corporate Intent 2024-2025

Date Created

10/04/2024

File Size

1.1MB

File Type

PDF

Deed of the Scanpower Customer Trust

Date Created

16/05/2023

File Size

0.4MB

File Type

PDF

Scanpower Ownership Review Report 2023

Date Created

19/12/2023

File Size

2.3MB

File Type

PDF

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