Northpower shares $4.5m with customers: $80 each

Each Northpower connection will get an $80 credit.

A cash credit will give many people in the Whangarei and Kaipara districts more spending power in the holiday season with an extra $4.5 million being pumped into the economy from Northpower.

The Northpower Trust has announced its annual distribution of profits which will see $80 credited to everyone connected to the Northpower network.

There are 58,605 electricity connections on the Northpower network in the Kaipara and Whangarei districts.

The dividend will be displayed on power bills sent out by electricity retailers in either December or January, with some companies likely to have handed back the $80 before Christmas.

Northpower Trust chairman Erc Angelo said the latest distribution will equate to a financial boost to the local economy of around $4.5m and takes the total amount given back to residents on the trust's lines network since 1993 to well over $90m.

"What is really pleasing with this latest distribution is reaching such a significant milestone and being able to continue consistently giving back to our consumer beneficiaries once again," Mr Angelo said.

"The Northpower Trust distribution brings a direct benefit to our community and we know from talking to families within our community that this credit is really helpful around the Christmas period."

The distribution reflects Northpower's steady growth in its locally-owned electricity and broadband networks, along with its contracting business which works with electricity distribution networks throughout the North Island, Mr Angelo said.