Waitomo Energy Services Customer Trust – Waitomo Energy Services Customer Trust
Waitomo Energy Services Customer Trust
"Growing and enhancing our community asset for the sustainable benefit of the Trust's beneficiaries, both now and in the future"
Established in 1993, the Waitomo Energy Services Customer Trust (WESCT) holds 100% of the shares in The Lines Company Limited (TLC) on behalf of TLC customers. Rather than issue shares directly to customers, which would have led to fragmented ownership, it was decided that customers would benefit most if a single trust owned The Lines Company.
The trust is therefore managed by trustees on behalf of customers of The Lines Company, who are the trust's beneficiaries. The trustees' main duties are protecting the value of the shares and distributing benefits to the trust's beneficiaries, which is done in the form of customer discounts. In the year ending 31 March 2018, the trust delivered $5.6 million in discounts.
To be a beneficiary of the Waitomo Energy Services Customer Trust, and be eligible for a discount, you must be:
* Connected to the Lines Company Network,
* Paying for services delivered by The Lines Company, and
* Whose electrical installation falls within the WESCT district (the area over which the previous Waitomo Electric Power Board was authorised to supply electricity as at 31 March 1993).