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WE L ANNUA L REPOR T
COMPANY
PROFILE
WEL Networks Limited (WEL)
is the provider of electricity
infrastructure for the
distribution of energy to over
87,000 homes, businesses and
organisations throughout the
Waikato region.
We are committed to providing high quality,
reliable infrastructure while maintaining
a strong focus on community safety and
holding prices below the industry average.
Hamilton is the main city in our coverage
area which extends to Maramarua in the
north and across to the west coast, including
the towns of Huntly, Raglan,Te Kauwhata
and Ngaruawahia. Our network includes
more than 6,400 kilometres of lines and
has an annual throughput of 1,185GWh.
WEL is locally owned.We have one
shareholder, the WEL Energy Trust.
The capital beneficiaries are the region’s
local councils; Hamilton City Council,
Waikato District Council and Waipa
District Council.
In 2010 we won the contract to roll ultra
fast broadband out via a fibre network to
the Waikato, Bay of Plenty and Taranaki
regions. Ultrafast Fibre Limited, a
partnership between WEL and the Crown,
already has over 15,600 end users connected
to the network, with this number predicted
to grow exponentially.The build is both on
budget and on schedule.
We are proud to be leading the way
with the implementation of a Smart
Network, enabling the transformation
from a traditional lines company to a
next generation Smart Multi-Utility.
The deployment of smart boxes and a
smart grid enables us to closely and
proactively monitor the voltage levels within
our customers’ premises and allows us to
identify faults instantly and, in the event of
failure, get their power back on more quickly.
This project will be completed in 2016 and in
the future the data gathered from our Smart
Network will enable network efficiencies and
more intelligent design.
In line with our commitment to modernise
the network for our customers, we maintain a
close watch on technologies that may impact
on future planning, such as electric vehicles
and distributed generation.The Company
supports initiatives which help achieve the
national target of 90% renewable energy
generation by 2025.
As a result of our annual discount
programme, which was established in 2003,
discounts of approximately $257 million
(incl. GST) have been disbursed to our local
customers over the past 12 years.
We operate under strong commercial
principles and are fortunate to have in
place a highly-skilled and experienced Board
of Directors. Chaired by Margaret Devlin,
the Board brings substantial business
acumen and applies high standards of
corporate governance.
