
Annual Report 2025



Right scale

Right team

Sustainability

Deepening
our impact
Infrastructure

$525m
of local infrastructure asset value

63189
customers connected to our electricity network

$53m
invested in local fibre and electricity networks

16.9GWh
of renewable energy produced

25887
customers connected to our fibre network
Energy Services

$401m
of energy infrastructure delivered to our clients

680000
electricity connections maintained across the North Island

1250
staff across 14 locations
Capability

121
trainees in the business

100%
Kiwi owned

$2.5m
invested in capability development this year
$513m
revenue
⇧ FY24 $461m
$90m
EBITDAF
⇧ FY24 $80m
$71m
net operating cashflows
⇧ FY24 $63m
$18.6m
distributions and discounts from Northpower and NEPT
⇧ FY24 $15m
Our governance

Mark Trigg
Chair
B Eng Chemical and MaterialsEx officio Audit and Risk, People and Capability, Investment Committees
Mark brings extensive industry experience with a career in the energy sector encompassing asset management, operations, strategy, market trading and portfolio management, and large-scale project management. He has also held roles in the financial markets industry. Mark’s current directorships include Liquigas, Ngāti Tūwharetoa Holdings Limited and subsidiaries.

David Hunt
Director
BA Hons (First Class)Economics, BA Statistics, MInstDInvestment Committee, Audit and Risk Committee
David has extensive experience in the energy and infrastructure sectors of both New Zealand and Australia. He served as Chief Executive of Contact Energy and was a consulting director at Concept Consulting Group, specialising in energy, utilities, and decarbonisation issues until April 2024. David’s current governance roles include Deputy Chair of the Accident Compensation Corporation, director of DairyNZ Ltd, and NZX Regulation Ltd. He is a former director of Synergy and Christchurch City Holdings Ltd.

Phil Hutchings
Director
B.Eng. (Hons), Dip Bus AdminInvestment Committee Chair, People and Capability Committee
Phil, a qualified mechanical engineer with additional business qualifications, has extensive experience in Australia’s mining industry. He successfully led the commercial operations of a prominent export-oriented mine and refinery. With ten years as a partner in corporate finance, specialising in energy and resources, Phil’s expertise is well established. His career also encompasses consulting in the energy and renewable sectors, as well as holding positions as General Manager and CEO, including two years in Europe’s renewable sector.

Michelle Kong
Director
BA (Hons I), LLB, L.Mus.APeople and Capability Committee Chair
Bringing extensive experience in infrastructure industries, Michelle’s expertise spans strategy, customer insights, market analysis, pricing, corporate finance, and growth ventures in telecommunications, media, building products, waste management, and airport sectors. Previously, Michelle served as a Future Director at Auckland Airport, an Independent Director at Snakk Media, and is currently commercial advisor to an early-stage company focusing on wireless vehicle charging technology.

Laurie Kubiak
Director
MAICD, GAICDAudit and Risk Committee
Laurie’s international career encompasses commercial and strategic roles in energy, ICT, telco, aviation, and infrastructure sectors. He has led multi-disciplinary teams in Europe, USA, Africa, and Asia for several FTSE 100 companies. Laurie is the owner and CEO of Nautech Electronics Ltd, and was formerly the Chief Executive of NZIER and Chair of NZSO and Trustees Executors Limited. Laurie brings a wealth of expertise in commercial strategy, economics, policy, and regulation to the Northpower board.

Kerry Friend
Director
CAANZ, CMInstD, AICD, BMSAudit and Risk Committee Chair, Investment Committee
Kerry brings extensive financial management, strong governance, and risk management expertise to Northpower’s board. Hailing from Whangārei, Kerry began his career with EY in Wellington before venturing to Asia, holding senior finance positions primarily in the media and entertainment sector. Kerry is a co-founder and Executive Director of NZX-listed Trade Window Holdings Limited and holds a Bachelor of Management Studies, is a Chartered Accountant, a Chartered Member of the NZ Institute of Directors, and a member of the Australian Institute of Company Directors.

David Prentice
Director
B.Eng. (Hons), PhD (Eng), MInstD, CPEngPeople and Capability Committee, Investment Committee
David brings broad energy sector expertise to the Northpower Board. He is currently the Chief Executive of NZ Windfarms and prior to that, he was Chief Executive and Director of Trustpower, with particular focus on their hydro generation and new development business and was subsequently appointed inaugural Chief Executive upon the entity’s rebranding to Manawa Energy. David has also chaired the Interim Committee for Climate Change. Before that he was Chief Executive and Managing Director of Opus International Consultants, as well as non-independent and executive Director on the Opus Board.

Julia Steenson
Future Director
Julia (Ngāti Whātua, Tainui, Ngāti Hine) is an accomplished lawyer and director with proven governance experience in complex commercial, social, Iwi and public sector roles, including Ngāti Whātua Orākei Whai Rawa Limited, Kia Puawai/Youth Horizons Trust and Te Runanga o Ngāti Whātau Whai Manawa Ltd. She also served as Royal Commissioner for Aotearoa New Zealand's largest and most comprehensive Royal Inquiry.
Our leadership

Andrew McLeod
Chief Executive
BEng (Mech), PGDip FAAndrew joined Northpower as Chief Executive in 2017 and has a background in infrastructure management and construction management, spanning the electricity, oil and gas, and water utility sectors. Andrew is responsible for ensuring appropriate performance and positioning of Northpower’s group of businesses, with a focus on ensuring appropriate returns and outcomes for Northpower’s consumer owners.

Josie Boyd
Chief Operating Officer Contracting
LLB(Hons)/BA, MInstDJosie joined Northpower in 2011 and was our General Counsel for a number of years. From her background in legal and operation Josie took on responsibility for Northpower’s electricity network in 2017. Prior to this Josie worked in New Zealand and the UK in a range of private practice and in house corporate roles in the utilities, construction and professional services industries. Josie currently leads our Contracting business, responsible for its overall performance as we continue to grow and diversify our services.

Mike Gibbs
Chief Operating Officer Network
BE(hons) – electrical, MBAMike was appointed Chief Operating Officer Network in 2024, as an electrical engineer he brings his significant expertise in the electricity industry. He joined Northpower in 2021 leading the asset strategy and investment team. He is responsible for Northpower’s electricity network, including asset strategy and investment, engineering, delivery, customer, operations, commercial, regulatory and Network specific digital functions.

Darren Mason
Northpower Fibre Chief Executive
BMS (Hons), MInstDDarren joined Northpower in 1996 and was instrumental in the company securing the Whangārei UFB build. Prior to his appointment as Northpower Fibre CEO in 2011, Darren was Northpower’s longstanding Marketing and Fibre Manager. Darren is responsible for all aspects of Northpower Fibre as Chief Executive.

Ollie O'Neill
Chief Financial Officer
FCCAOllie joined Northpower as Chief Financial Officer in 2018. He has over 20 years of financial and executive experience across infrastructure, construction, agri-business, finance and gaming sectors. Ollie is responsible for optimising the financial performance of the group and for leading Northpower’s finance and strategy functions, as well as leading our renewable generation business.

Andrea O'Brien
Executive General Manager People and Capability
BAppMgt (Human Resources), Dip BusAndrea joined Northpower in 2009 and took on the role of General Manager People and Capability in 2016. Andrea has over 20 years experience in human resources, safety and quality management, previously working in the timber, forestry and mining industries. Andrea is responsible for all people related activities including recruitment, training, development, people related performance systems and staff advisory.

Ed Overy
Executive General Manager Digital
BEng (Mech), (Hons)Ed joined Northpower in 2023 and brings deep experience at an executive level in engineering, strategic digital, information technology, sales & marketing and operations management across the aviation, logistics, and defence sectors within New Zealand and internationally. Ed is responsible for leading Northpower’s digital strategy and teams, ensuring we are well-placed to continue innovation while evolving and expanding our business to meet the needs of a changing energy landscape.

Iley Joblin
Executive General Manager Legal and Risk
LLB/BA, ACG (CS)Iley joined Northpower in 2016, having held roles in professional services and financial services including infrastructure finance and insurance in both New Zealand and the UK. She is a lawyer and Chartered Company Secretary. Iley leads our risk, legal, health and safety governance and Northpower’s sustainability framework across our electricity, fibre, contracting and renewables divisions.

2025 Financial Statements
