23 February 2012

WEL Energy Trust’s new strategy focused on high-impact community investment

WEL Energy Trust today released its new vision and strategy. The fresh strategy signals a new era for the Trust as it seeks to make a greater impact within the Trust’s region.

WEL Energy Trust is the 100% shareholder of local electricity lines company WEL Networks Limited. It has responsibility for ensuring WEL Networks operates successfully and, in doing so, enables the distribution of funds from Company and Trust revenues to consumers and organisations in the community.

Over the past 10 years, WEL Energy Trust has supported the return of nearly $200 million to WEL Networks’ customers through a discount on individual electricity accounts. During this period, it has also invested over $25 million in community organisations through the Trust’s own grants programme.

Trust Chair, Mark Ingle, says, “The Trust’s new vision is ‘to grow investment in our community.’ Firstly, this means we want to maintain the electricity consumer discount and grants programmes. It is important people understand those two schemes are not under threat.”

“And secondly, we want to add a layer on top of these two schemes by investigating new ways to invest in the community that will make a major, long-term, positive impact.

“The discount and the grants programme are all about giving back to individual people or groups, with more of a short-term focus. By looking into new ways to invest in the community, the Trust is making a commitment to both short-term and long-term outcomes to enrich the lives of many more people within the WEL Network region,” explains Mr Ingle.

The Trust is exploring a number of options regarding how a community investment programme might be funded. Mr Ingle said options included, but are not limited to, local non-core lines business income and broadband network income. “The funds that will be put into any potential new investment programme will be entirely unrelated to income from WEL Networks’ local lines business,” he explains.

Mr Ingle said Trustees will work in close partnership with councils, business leaders, community organisations and residents to gain input to help it make the best decisions possible.

“The next step is working with the community to determine exactly where we can invest funds to make the greatest impact for the greatest number of people. We will seek out significant projects that will have a positive influence in the lives of current residents and future generations,” explains Mr Ingle.

Recently the Trust has made two major community investments: $700,000 toward the purchase of a new multi-role helicopter for Waikato- based Philips Search & Rescue Trust; and $900,000 to develop the Ngaruawahia-Hamilton section of the Te Awa cycle-walkway. Both investments were made possible through a $1.6m special dividend from WEL Networks related to its alliance with Meridian over the Te Uku Wind Farm.

Mr Ingle says by exploring new ways to invest in the community, the Trust is delivering on its promise to people in the region.

“Our Trustees were elected on the promise that we would find new ways to invest in the community. Now that we have that mandate, we are getting on and doing it.

“We realise people in our community have different needs and we are committed to touching the lives, now and in the future, of as many people in our region as possible in ways that are meaningful to them,” he says.

WEL Energy Trust’s new strategy can be downloaded from its website: www.welenergytrust.co.nz/documents.cfm

WEL Energy Trust Strategy at a glance:

About WEL Energy Trust

WEL Energy Trust funds are distributed to individuals, community groups and major projects within the WEL Networks’ distribution area, which includes Hamilton city, most of the Waikato district and some parts of the Waipa region.

Current trustees of WEL Energy Trust are: Mark Ingle (Chair), Denise Harding, Mark Bunting, Brad Chibnall, Rob Hamill, David Kneebone and Kathryn Williams.

ENDS

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