NextGen Launches Not-for-Profit Power Company

FOR IMMEDIATE RELEASE

NEXTGEN LAUNCHES NOT-FOR-PROFIT POWER COMPANY

Nelson, New Zealand (17 Nov 2016) – Nelson-based power retailer NextGen Energy announces it is now open to supply power to homes and businesses across the country, starting in Nelson/Tasman districts ahead of national expansion. The social enterprise company operates as a not-for-profit, uniquely donating all net profits to local schools and charities.

The company (NZ’s first and only not for profit power retailer) focuses on supplying low-cost power all-year round and allocates its profits for distribution to schools and charities nominated by its customers on sign-up.

“NZ schools and charities have never been under more financial pressure than they are now,” says Tom Wheatley, NextGen Energy Managing Director, “and the benefits and social outcomes of an additional income stream to these groups is huge.”

For example, the company estimates that if 1 in 4 parents plus the staff at a typical primary school switched to NextGen Energy, then the school could expect to receive up to $20,000 in donated funds each year. Schools and charities across New Zealand are invited to register with the company as recipients of future funds.

NextGen Energy buys and sells power from the wholesale markets, but is planning to invest heavily in its own solar power generation from 2017, with resource consents planned for regional solar farms set to top 20MW by 2020, enough to supply the daytime needs of approximately 10,000 homes. NextGen also guarantees to pay the highest rates for exported solar power in NZ.

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About NextGen Energy: NextGen Energy is NZ's first and only not for profit power company, offering low-cost electricity and products and services such as LED lightbulbs, solar power, energy-efficiency audits and energy-saving devices.

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