$4.67m returned to NEPT shareholders

$4.67m returned to NEPT shareholders

Northpower consumers will receive a pre-Christmas gift from the Northpower Electric Power Trust.

All electricity consumers connected to the Northpower electricity lines network in Kaipara and Whangarei will find an $83 tax free credit on their next power account.

The distribution totals $4.67 million and is allocated to the 56,332 power installation control points (ICPs) connected to the Northpower network at 6am, December 3, 2014.

NEPT Chairman Erc Angelo says the distribution means the Trust has now given back almost $93 million to its consumer owners since 1993.

“2014 has been a really strong year for Northpower and that is why we are able to share these profits evenly amongst our consumers. The distribution is from the Dividends the Trust receives,” says Mr Angelo.

“But the really pleasing aspect of this is the great service Northpower provides to it consumers in Kaipara and Whangarei – and you only have to look at the work Northpower did in response to the storms we had to contend with this year.

“Northpower has achieved important milestones this year with the completion of the Northpower Fibre UFB network in Whangarei this year, the establishment of the first electric vehicle fast-charge station in Whangarei and the fact the company was voted Lines Company of the Year for the second time.

“Northpower is a long term business and its continuing growth and maturity is both exciting and encouraging,” says Mr Angelo.

ENDS

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