About the Trust

LineTrust South Canterbury has been formed upon the resettlement of the South Canterbury Power Trust.

Following a hearing in the High Court at Christchurch on 4 June 2002 , on 21 June 2002 the Court delivered a judgment declaring that the Trustees of the South Canterbury Power Trust are entitled to vary the Trust and to resettle the shares and assets of the Trust in a successor trust with a term of up to 71 years.

Accordingly, on 24 June 2002 the South Canterbury Power Trust was resettled in a new trust on terms approved by the Court. The new trust is called “LineTrust South Canterbury”.

History

The South Canterbury Power Trust was formed in 1992 .

Apart from its term, the new trust is similar to the old trust. A review of the new trust is required every three years. Five Trustees are elected, three by consumers in the Timaru District Council area, one from the Waimate District and one from the Mackenzie District. A trustee election will be held every three years.

The South Canterbury Power Trust was formed in 1992 as a consequence of the Energy Companies Act 1992 when the South Canterbury Electric Power Board and the Timaru Municipal Electricity merged and Alpine Energy Limited was created.
A consumer trust was formed to hold 40% of the shares in Alpine Energy Ltd. Timaru District Council’s holding company owns 47.5% of Alpine’s shares, Waimate District Council 7.54% and the Mackenzie District Council 4.96%.

The objective of this internet site is to make available to the consumer beneficiaries all relevant publications, reports and contact details of the Trust. See our library for this information.

1992

Since

40%

Of the shares

80 years

Successor trust

Network Ownership

Network ownership in South Canterbury.

40%

LineTurst
South Canterbury

47.5%

Timaru
District Council

7.54%

Waimate
District Council

4.96%

Mackenzie
District Council

The community owns 100% of Alpine Energy

100%

100% South Canterbury Owned

Alpine Energy has ownership in the following

14.29%

SmartCo

50%

On Metering

100%

Timaru Electricity Ltd

100%

NETcon Ltd

100%

Infratec Ltd

100%

Infratec Renewables Rarotonga Ltd

Management

Way of making sure beneficiaries receive maximum value.

Keeping operating costs low is one way of making sure beneficiaries receive maximum value from the Trust. Despite the size of the investment it’s responsible for, LineTrust South Canterbury is a very small organisation. Responsibilities include managing our cash flow, providing advice, communicating with beneficiaries and media, running our annual meeting, managing the Trust’s budget, managing suppliers, keeping an eye on legislative change, overseeing our annual accounts and taking care of Trust insurances.

Our Trustees

Mike Downes

Chair
Representing Waimate District
mike@linetrustsc.org.nz

Joy Paterson

Deputy Chair
Representing Mackenzie District
joy@linetrustsc.org.nz

AGM

Annual General Meeting.

The Annual General Meeting of LineTrust South Canterbury is held in November/Decemeber each year. At the AGM the Trustees, who hold 40% of the shares in Alpine Energy Ltd on behalf of consumers, report on the Trust operations for the financial year and present the Financial Statements. The Chairman’s report and the Financial Statements are open for discussion with any consumers present. The annual report is available at the offices of Ford Simpson Limited, 2nd Floor, Woollcombe Street, Timaru or can be viewed on our website.