Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Erc Angelo re-elected as Chairman of NEPT

Erc Angelo re-elected as Chairman of NEPT

Erc Angelo has been re-elected as Chairman of the Northpower Electric Power Trust.

It is his seventh term in the position, after first being elected as Chairman in 1993. His former Deputy Chairman Richard Drake was also re-elected at an NEPT meeting yesterday.

Mr Angelo says since 1993, Northpower Limited has grown from a company with a net asset value of $47 million to $249 million and annual revenue of $282 million.

Along the way it has expanded to have 15 depots in the North Island (from Whangarei to Wellington), established a growing Australian business (West Coast Energy), completed considerable projects in the Pacific Islands and is about to complete New Zealand’s first ultra-fast broadband fibre network in partnership with the Crown.

Mr Angelo says his re-election is pleasing and he is looking forward to continuing to assist in the growth of Northpower.

“Northpower has grown considerably over the past 20 years and the future is looking bright – I am looking forward to leading the NEPT over the next three years,” says Mr Angelo.

“The company is a Northland success story and there are plenty of opportunities ahead.

There will always be challenges but that is the nature of the electricity and contracting sectors.

“Northpower has the strength in its Board of Directors and Executive Management team to keep making progress – not to mention the skills of the specialists on the ground doing the work in the field.

“It is a privilege to hold a governance position like this. Along with the important responsibility of appointing Directors, our primary role as Trustees is to oversee the shares of Northpower on behalf of its consumer owners (those people connected to Northpower’s electricity network in Kaipara and Whangarei), to ensure their investment continues to be enhanced for the current and future generations of Northlanders.

“This is a unique ownership model that works very well because Northpower’s profits are spread evenly and fairly throughout the community,” adds Mr Angelo.

Mr Angelo says being able to give back $182 million over 20 years – most recently through a $70 distribution to every Northpower consumer – is testimony to the success of the consumer trust ownership model and the growth of Northpower.

Mr Angelo and Mr Drake will sit alongside Ross Provan, Bill Rossiter, Sheena McKenzie, Irene Durham and Tony Davies-Colley as NEPT Trustees.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>


Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>


Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>


Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>


Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>



Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>


'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>


Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>


Get More From Scoop

Computer Power Plus
Search Scoop  
Powered by Vodafone
NZ independent news