WEL Energy Trust's new strategy focused on high-impact community investment

WEL Energy Trust today released its new vision and strategy. The fresh strategy signals a new era for the Trust as it seeks to make a greater impact within the Trust’s region.

WEL Energy Trust is the 100% shareholder of local electricity lines company WEL Networks Limited. It has responsibility for ensuring WEL Networks operates successfully and, in doing so, enables the distribution of funds from Company and Trust revenues to consumers and organisations in the community.

Over the past 10 years, WEL Energy Trust has supported the return of nearly $200 million to WEL Networks’ customers through a discount on individual electricity accounts. During this period, it has also invested over $25 million in community organisations through the Trust’s own grants programme.

Trust Chair, Mark Ingle, says, “The Trust’s new vision is ‘to grow investment in our community.’ Firstly, this means we want to maintain the electricity consumer discount and grants programmes. It is important people understand those two schemes are not under threat.”

“And secondly, we want to add a layer on top of these two schemes by investigating new ways to invest in the community that will make a major, long-term, positive impact.

“The discount and the grants programme are all about giving back to individual people or groups, with more of a short-term focus. By looking into new ways to invest in the community, the Trust is making a commitment to both short-term and long-term outcomes to enrich the lives of many more people within the WEL Network region,” explains Mr Ingle.

The Trust is exploring a number of options regarding how a community investment programme might be funded. Mr Ingle said options included, but are not limited to, local non-core lines business income and broadband network income. “The funds that will be put into any potential new investment programme will be entirely unrelated to income from WEL Networks’ local lines business,” he explains.

Mr Ingle said Trustees will work in close partnership with councils, business leaders, community organisations and residents to gain input to help it make the best decisions possible.