There are five Trustees who are appointed under the terms set out in the Trust Deed and who administer the Trust. Their duties include:

  • Appointing the directors of Top Energy Limited
  • Distributing the benefits of share ownership to the consumer beneficiaries as a group, irrespective of which electricity retailer they may purchase electricity from
  • Negotiating with the Company’s directors the Statement of Corporate Intent, which agrees the strategic direction and performance objectives to be achieved by the company
  • Monitoring and reporting on the Company’s performance
  • Undertaking periodic Ownership Reviews involving a public consultation process, to determine whether the Trust will continue to own the shares in Top Energy Limited
  • Comply with the Operating Guidelines (Code of Practice)
Consumer Trust

Trust Public Meeting

The Top Energy Consumer Trust will hold its annual public meeting at which the trustees will report on the operation of the Trust and Top Energy for the year to 31 March 2025. The Trust’s Auditor will also be
appointed. The public is invited to attend the meeting. There will be an opportunity to ask questions and for power consumers to express their views on the performance of the Trust and Top Energy Ltd.

The meeting will be held at:

Cornerstone Church, Kerikeri - Tuesday 29 July 2025
Commencing: 5.30pm

Refreshments will be served

Documents Available for Inspection
The following documents relating to the Top Energy Consumer Trust will be available for public inspection at the offices of Top Energy in Kerikeri, Kaitaia, and Puketona from Monday July 7, 2025, during normal business hours.

The information will also be available on Top Energy’s website, www.topenergy.co.nz and includes:
• Trust Annual Report (including the financial statements and the Auditor’s Report)
• Top Energy Ltd Group Annual Report (including the financial statements and the Auditor’s Report)
• Statement of Corporate Intent

Trustee Nominations

The Trust's Deed requires trustees to retire after four years. The next call for nominations of trustees will be in November 2027.

Trust ownership

Who should own Top Energy?

Far North power consumers connected to Top Energy’s line network own the company with the shares being held, on their behalf, by the Top Energy Consumer Trust.

Every 5 years, the Trustees consult with local power consumers on their preference for the ownership structure of Top Energy. The requirements are set out in the Trust’s Deed.

How is a review conducted?

The Trust Deed requires Top Energy’s Directors to produce a report which details their analysis of the advantages and disadvantages of various types of ownership structure. It also contains their recommendation in relation to continued ownership. The Director’s Report is supported by a PwC report which provides detailed analysis of past performance and possible ownership options.

Your Trustees are required to review this Directors’ report and to set out any comments on it in a Trustees Report.

Ownership review

The most recent ownership review of the shares in Top Energy Ltd was completed on 30 August 2022. The Trustees of the Trust decided that the shares would continue to be held in trust for the power consumers of the Far North who are connected to the Top Energy distribution system. This position is expected to continue for up to five years from the date the decision was made.

Financial statements

The Top Energy Consumer Trust's financial reports are available within the Publications and disclosures page here.

Latest news

Published 01/07/25

Strong financial performance for Top Energy amidst disruption and uncertainty

The Top Energy Group has delivered a strong result for the 2024/2025 financial year.

keep reading
Published 16/06/25

Keep warm and save on power this winter

Kia mahana, kia penapena anō i tō utu hiko i tenei hōtoke.

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Published 19/05/25

Continue investing in a reliable power future

E penapena tonu ana te āpōpo a mau mārika ai te hiko

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Published 07/04/25

New Trustees appointed to the Top Energy Consumer Trust

Ann Court has been appointed for a four-year term

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Sponsorship

Sponsorship

Find out more about how we work within the Far North community to help create a healthy and prosperous region

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