About us
Welcome to Counties Energy Trust! Not many people know that Counties Energy, your local electricity network company is 100% locally owned. Since its establishment in 1993 the role of the Counties Energy Trust has been to hold 100% of the shares of the Counties Energy business on your behalf, to ensure it benefits our community.
A quick summary of the who, what, why of the Counties Energy Trust!
The trust is made up of 5 individuals who call the Franklin district home and are elected by the public every 2 years. Check out who your current trustees are here. The Counties Energy business is operated by a board of directors and the senior executive leadership team led by the CEO, however it is the duty of the trustees to act on behalf of the consumer, overseeing the Counties Energy business who ensure the electricity network remains safe, reliable, accessible and well-maintained – whilst also planning and investing for future growth of our area. That’s why it’s important for consumers to vote in Trustee elections and have a say in who represents the community. For more on elections and how you can become a trustee, click here.
Want to know more of the ins and outs? Read on!
The trust is governed by a Trust deed, that will terminate no later than 9 May 2072. The Trust Deed isn’t an easy read so below is a brief overview and given only as a guideline.
In simple terms, the Trust Deed requires the Trustees to hold the shares of the Counties Energy business in trust for its beneficiaries* – who are consumers directly connected to Counties Energy Ltd’s electricity network. This arrangement remains in place until 2072, unless consumers clearly express a strong desire for change to all Trustees.
Trustees are responsible for ensuring that the value of the Trust’s shares its primary asset grows in line with how a prudent investor would grow their personal investments.
While Trustees have a range of duties, their core obligation is to retain ownership of the company shares and support the ongoing growth of the company’s value, for as long as consumers require it and the Trust Deed remains in effect.
Who is who you ask? There are three teams who all have your interests at heart as a consumer of the network.
The Trustees of Counties Energy Trust, The Directors and Executive Leadership Team of Counties Energy Limited, and of course, all of the wonderful staff who work hard to keep the lights on within our fast-growing area.
There are two key responsibilities of the Counties Energy Trust:
1: to appoint and remove the company’s directors. It is the directors who set company policies and delegate the implementation of such policies, to the CEO and executive leadership team. Trustees must not interfere in the day-to-day operations or management of the company.
2: to oversee the company’s performance by setting annual targets and measures with the Company through the Statement of Corporate Intent. Outcomes are reported against targets in the Trust’s annual report.
Consumer Annual Discount
All directly connected consumers of the local energy distribution company, Counties Energy, are beneficiaries of the Counties Energy Trust and receive an annual discount on their energy bills around December each year.
This is only deemed possible after Counties Energy has completed all necessary asset maintenance and improvements to the energy network.
The Trustees consider that the annual discount is the most efficient means of providing returns to the Trust’s Beneficiaries*- which is you, the local consumer.
Such discounts can only be provided whilst the shares of Counties Energy Limited remain in your local electricity lines Trust – The Counties Energy Trust, that’s us!
*Note: The definition of a Beneficiary (also referred to as a ‘’Consumer’’) can be found on page 2 of the Trust Deed located from the Trust Documents tab. If you are connected to an embedded network within the Counties Energy network zone – you are not deemed to be an eligible consumer.
How Do you Become a Trustee?
Do you or someone you know feel like they have what it takes to become a Trustee?! Anyone with an interest for the energy sector or simply a passion for representing the community can nominate themselves during elections, then it’s over to the public to elect the candidates they think are the best fit. Click the link below to learn more.
Counties Energy Trust Timeline
1924
The Franklin Electric Power Board was established. The purpose of the FEPB was to lower electricity prices and spread reticulation throughout the whole of Franklin County with the intention that consumers benefit from the social and technological advances of electricity.
10th May 1993
The Counties Power Consumer Trust was established to hold all shares of the Counties Power Ltd (prev. The Franklin Electric Power Board) Business on behalf of the consumer.
17th August 2021
The trust was renamed The Counties Energy Trust, to align with the rebranding of the business, from Counties Power Itd to Counties Energy Itd.
24th March 2024
Counties Energy celebrated its 100 year centenary of serving the Counties Community.
Link below:
Counties Energy Centenary
Counties Energy Trustees
Want to know who is representing the Counties Community? Get to know your current Trustees here.
Reports & Documents
Our documents and reports give you further insight into how the Trust operates. You’ll find documents such as ownership reports and Trust financials here.
Elections
Each year we hold local elections for our Board of Trustees! Think you or someone you know might want to give it a go? Find out more about the process here.
Get in touch with us
Have any questions for us here at Counties Energy Trust? We’d be more than happy to answer them for you.
