Who owns Top Energy now?
Top Energy is owned by the consumers of the Far North connected to the electricity network. These shares are held on behalf by the Top Energy Consumer Trust.
So what’s this question about?
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.
A review of ownership was last completed in 2016.
How’s the Review to be 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.
Your Trustees are required to review this Directors’ report and to make comments on it. Both these reports are now available for your perusal, from Top Energy’s offices located at:
KERIKERI : Level 2, John Butler Centre, 60 Kerikeri Road
KAITAIA : Whangatane Drive, Kaitaia
PUKETONA : 1254 Puketona Road, Oromahoe
The reports are also available below:
So what's in the Directors' Report?
Top Energy Directors have recommended
The Directors have also concluded
- the advantages of trust ownership outweigh the disadvantages of such a structure
- the financial performance of the Company has not been negatively affected by the ownership structure under which it operates.
- Top Energy's objectives, as reflected in the Statement of Corporate Intent, are best achieved with the current trust ownership structure.
How can I make a submission?
You can make a written submission (followed by a verbal submission at a later hearing, if you so choose) by using one of the following three options:
- Complete and mail the Submission Response Form you received in the post
- Write a detailed submission and email it to trust@topenergy.co.nz
- Make your submission using the online form below.
- Write a detailed submission and post it to
The Secretary
Top Energy Consumer Trust
PO Box 43
Kerikeri 0245
Northland
NOTE: There is no set format required for a written submission. However, please ensure your full name, address and ICP Number (shown on your latest energy retailer power account) are clearly shown on it.
Your submission must be received by the Trust no later than 5pm, Tuesday 19 July 2022.
Can I make a verbal submission?
YES. So long as you have first made a written submission, received by the Trust before 20 July 2022 and you have indicated you wish to be heard at a Public Hearing.
The Trust will notify you of the Public Hearing dates and venue. The hearings are likely to be conducted 1 August to 12 August 2022.
The submission process has now closed. The next step will be to hear from those who have requested a verbal submission in early August.
Following this, Trustees will review the feedback received and then meet publicly at the end of August to decide what is to happen with the shares in Top Energy Limited.
