Trustees of the Scanpower Customer Trust: Rowena Bowie, left, Myles McKeefry, Keith Cammock, (chairman), Stuart Smith and Bill Taylor.
Trustees of the Scanpower Customer Trust: Rowena Bowie, left, Myles McKeefry, Keith Cammock, (chairman), Stuart Smith and Bill Taylor.
All Scanpower's residential customers connected to the company's electricity network are about to receive important survey forms in the mail.
The survey is part of the ownership review process undertaken by the Scanpower Customer Trust every five years.
When the Trust was established in 1993, the founding trust deed statedall future trustees must review the ownership structure of Scanpower Ltd on a cyclical basis and consider whether the model was still in the best interests of customers and whether alternatives should be considered.
The last ownership review was undertaken in 2011. At that time, the survey process highlighted a 99 per cent approval rating for continuation of the trust model.
The trustees appoint directors to the company's board and also review in advance and approve the company's annual Statements of Corporate Intent.
These statements set out the guidelines the company agrees to operate within and its annual performance targets. The directors report to the trustees on a formal basis twice a year, in addition to providing monthly updates and board minutes.
The trust also ensures the cost of electricity to customers is minimised by directing Scanpower to distribute any financial surplus back to the customers in the form of discounts on an annual basis.
Scanpower chief executive Lee Bettles said the survey will be relatively easy to complete and will be accompanied by an information brochure outlining the process and providing an assessment of Scanpower's recent performance under the trust ownership model.
It will ask customers to express their view on which option they favour going forward. The survey will remain open until December 9 and responses may be returned in hard copy form or via a dedicated website.
It is anticipated the trustees will reach a decision on their recommended ownership structure for the coming five years prior to Christmas. This will be followed by a period of public consultation prior to final adoption.
