About Wel Energy trust

WEL Energy Trust was formed in 1993 as a one-third shareholder of WEL Networks Ltd, which is the electricity distribution business operating in the Waikato region. WEL Networks Ltd also holds an 85% shareholding in Waikato Networks Limited (WNL) which owns 100% of Ultrafast Fibre Limited (UFF). The Trust now holds 100% ownership of WEL Networks Ltd, with all customer shares being acquired in 1999. The Trust’s seven trustees are publicly elected every three years and hold these shares on behalf of the community. WEL Energy Trust is a “Community Trust” (rather than a Consumer Trust), and under the founding documents the core purpose of the Trust is to ensure the success of the Company, WEL Networks Ltd. Surplus income received by the Trust can be distributed to beneficiaries in various ways, including through grants and other community investments.