After a "particularly successful" financial year, the Waitaki Power Trust (WPT) this week announced a rise in the value of its shares of more than $90,000.
According to the consumer-owned trust's annual report for the financial year ended March 31, the WPT's 14 million shares in Network Waitaki and Network Waitaki subsidiary company Network Waitaki Contracting rose in value from $79,912,496 in the previous financial year, to $80,003,231.
However, trust chairwoman Dr Helen Brookes said some Government-instigated issues were "in the pipeline" that the trust was concerned could threaten its future.
In March, the Electricity Authority announced an efficiency review of business practices in the industry to assess the need for possible change, and the trust was worried the Government might consider restructuring consumer trusts as a result, Dr Brookes said.
Any change to the status quo would be "a significant step backwards" for consumers, and the WPT would lobby the Government with other trusts, in conjunction with the Energy Trusts of New Zealand (ETNZ) Conference, in a bid to prevent change.
"Trustees are uncertain as to how the review will proceed.
From a trustee's perspective the Electricity Authority's review takes us all into uncharted territory."
Dr Brookes said she would meet ETNZ representatives at the end of the month to receive an update on the status of the review.
"What ETNZ is arguing is that trusts owned in part or wholly by consumers really shouldn't come under review."
The WPT had 12,000 customer network connections over 1900km of line, and for rural power trusts, in particular, the number of line connections per km was a better indication of efficiency than power outage duration or profitability, she said.
