Welcome to the home page of the Counties Power Consumer Trust’s website.
What is this Trust and why does it exist?
In May 1993, as a result of various government directives and statutes, a new company came into existence for the purpose of receiving the assets of the old Franklin Electric Power Board (established in 1924).
That new company was given the title of Counties Power Limited - a name it has retained through the years. (The company's main business is that of supplying a network of electricity lines throughout the Franklin District and part of the Papakura district - more information on the company can be found at www.countiespower.com)
The ownership of this new company was settled on men and women who accepted the positions as the inaugural Trustees of the Counties Power Trust. Once a number of reviews had taken place with the community voting on the style of ownership they wanted for their network company, this original Trust was resettled as the Counties Power Consumer Trust in 1995 and a new deed was signed.
This deed will terminate no later than 9 May 2072 unless the Trustees fulfill other obligations surrounding an earlier (or later termination).
This ensures that the shares of the company remain in the hands of the Trustees – all of whom are publicly elected from the local community. This also means that although the company must be operated as a successful business by its board of appointed directors and its employed managers, the Trustees must keep the consumers (or Trust beneficiaries) at the forefront should the occasion present itself. This contributes toward stopping prices from becoming exorbitant. After allowing for asset maintenance and improvements to the network, all consumers can expect an electricity discount at the end of the year.
Such a discount would be unlikely should the shares ever go outside the community.
In addition, when sufficient funds have been saved up over the years, the Trust also makes a distribution to the consumers.
At all times the affairs of the Trust and all Trustee duties and resolutions are governed by a Deed of Trust.