In order to achieve key strategic objectives for Dunedin, the Council owns a number of Council Controlled Organisations (CCOs). These CCOs manage facilities, assets and/or deliver significant services on behalf of the Council and the wider Dunedin community. There are three kinds of CCOs – Council Controlled Trading Organisations (CCTOs); not-for-profit CCOs; and non-trading CCOs. Each of the trading CCOs prepares a “Statement of Intent” which sets out its mission, objectives and performance targets for each financial year.
In addition to CCOs, there are Associated Companies of the Council, in which the Council does not hold a majority of shares in the entity.
The following diagram illustrates the current structure and ownership of CCOs and Associated Companies.
Dunedin City Holdings Limited and subsidiaries
Dunedin City Holdings Limited (DCHL) is the parent company of many of the Council Controlled Trading Organisations and has the primary role of monitoring the operating performance of its subsidiary and associated companies to ensure each company provides the maximum advantages in all respects to the Council.
The Statement of Intent for DCHL identifies specific objectives and performance targets for 2025/26.
The following table sets out the key financial targets for DCHL.
| Interest and dividends provided to DCC | |
|---|---|
| 2025/26 | $14.902 million |
| 2026/27 | $ 14.902 million |
| 2027/28 | $ 16.902 million |
Every year, all DCHL’s subsidiary companies prepare a Statement of Intent (SOI). DCHL reviews each SOI and then makes recommendations to Council that they be accepted. It should be noted that each CCTO has financial, social, and environmental performance measures.
The following table lists DCHL’s subsidiary and associated companies and outlines their main activities.
| Nature and scope of activities | Objectives | Key performance measures* |
|---|---|---|
| Aurora Energy Limited | ||
| The company owns and manages the electricity distribution network in Dunedin and Central Otago, delivering power from the national grid to customers, while also exploring new technologies to support future energy needs. | To support Otago’s growth through delivery of safe, reliable, and efficient electricity to homes, farms, and businesses, and to help Dunedin reach its goal of being carbon neutral by 2030 by investing in strong infrastructure, using new technologies, and balancing environmental, community, and financial needs. | Delivery of electricity supplies to consumers on the Aurora network of a reliability standard that meets the service level targets in the Commerce Commission’s quality standards. Measure and publicly report Greenhouse Gas (GHG) emissions and progress on emissions and waste reduction strategies and targets. Implement process and capability improvements identified in CPP Asset Management Practices Development Plan (AMPDP). |
| City Forests Limited | ||
| The company owns and manages plantation forests in Otago, focusing on sustainable harvesting, land stewardship, and supporting local wood processing, with potential to expand across the forestry value chain. | To manage local forests in a sustainable way to protect nature, support local jobs and wood industries, provide long-term value for the community, and help Dunedin reach its goal of being carbon neutral by 2030, while also caring for the land, water, and wildlife.. | Achieve a 5.5% return (or greater) on Shareholders’ funds measured on a post-tax 3 year rolling average basis. Participation in the New Zealand ETS and may realise returns from the sales of carbon stored in the company forests in compliance with its Carbon Policy. Annual harvest volumes as detailed in the strategic plan are within 30% of projected long term sustainable yield. Maintenance of supply arrangements with wood processors, provided customers match (or better) alternative market options. |
| Delta Utility Services Limited | ||
| The company delivers contracting services in the construction, operation, and maintenance of energy and environmental infrastructure. | To deliver long-term commercial returns while meeting shareholder and community objectives, prioritising health and safety, environmental responsibility, and alignment with Dunedin’s strategic and carbon neutrality goals. | Delivery of maintenance services is per contractual arrangements with Aurora Energy Ltd and Dunedin City Council. Measure and publicly report Greenhouse Gas (GHG) emissions and progress on emissions and waste reduction strategies and targets. Maintenance of a legislative compliance process that includes Health and Safety legislation. |
| Dunedin City Treasury Limited (DCTL) | ||
The company provides treasury and funds management services to the Dunedin City Council Group, including sourcing and on-lending debt, managing financial risks and relationships, and overseeing the Waipori Fund. | Ensure adequate funds are available to meet ongoing obligations, minimising funding costs and maximising return on surplus funds, within acceptable levels of risk. | Management of liquidity risk and utilisation of a variety of funding sources to achieve appropriate levels of funds as required by the DCC group. Secure investment of surplus cash available from within the DCC Group, ensuring funds deposited outside the DCC Group are compliant with the DCC Treasury Risk Management Policy. Management of the ‘Waipori Fund’ fully in accordance with policy and objectives set by Council to achieve investment objectives. |
| Dunedin International Airport Limited | ||
| The company operates Dunedin Airport, providing both airside and landside infrastructure to support safe, efficient air travel and regional connectivity, while also managing associated commercial assets and land for future development. It plays a key role in the wider aviation ecosystem and supports economic growth in the Otago region. | To support regional growth and connectivity by operating a safe, efficient, and sustainable airport, while delivering strong financial performance, advancing carbon reduction goals, and enhancing customer experience through strategic development and partnerships. | Customer satisfaction through survey tools and feedback mechanisms. No serious harm (as defined in the WorkSafe Accident and Accident Notification Definitions) to staff, airports users or contactors. No time performance delays to regular passenger transport operations due to airport owned infrastructure. Work with DCHL on aligning sponsorship policy with the DCC’s strategic framework. Prepare and disclose Greenhouse Gas Emissions Inventory in an Annual Sustainability Report, including progress against emissions reduction strategy, and waste reduction strategy. |
| Dunedin Stadium Property Limited | ||
| The company holds the ownership of Forsyth Barr Stadium. | To ensure the stadium remains a high-quality venue for events, while supporting Dunedin’s strategic goals, managing finances responsibly, and contributing to the city’s zero carbon targets. | An Asset Management Plan which enables general use of the stadium, and meets asset warranty and guarantee requirements, is in place. An appropriate debt management programme is in place and reviewed by the Board annually. |
| Dunedin Railways Limited | ||
| The company operates a rail tourism business, featuring the iconic Taieri Gorge railway line. The business is in a transitional phase, having been hibernated in response to the Covid pandemic.. | Develop a comprehensive strategic plan to transition the business from hibernation to full operational maturity. | Complete long-term strategic plan. |
| Dunedin Venues Management Limited (DVML) | ||
| The company manages and operates venues, primarily sourcing and delivering events, maintaining facilities, and enabling community access, with a focus on generating commercial and regional economic benefits. | To attract and deliver high-quality events, supporting Dunedin’s economic, social, cultural, and environmental goals. To enhance the city’s vibrancy and reputation while promoting sustainability, community engagement, and strong business performance. | Achieve a 15:1 return on investment of the Event Attraction Fund. Achieve a minimum of $5m visitor marginal direct spend per each major event (>10,000 pax) for Dunedin City. Achieve minimum 80% satisfaction rating through surveys of all major events (>10,000 pax). Achieve a 75% retention rate of member renewals by contract value. |
* the key performance measures are from the 2025/26 Statement of Intent for each company and are reviewed annually.
Council controlled organisations (not for profit)
Not-for-profit organisations are also considered Council Controlled Organisations if the Council and other local authorities have the power to appoint 50% of the trustees to the Board.
Small organisations
On 10 August 2011, the Council granted an exemption under section 7 of the Local Government Act 2002 after consideration of the size of the organisation and the nature and scope of the Trust activities. This exemption was reconfirmed on 24 November 2020.
Trust Fund
Dunedin Heritage Trust Fund
Dunedin Heritage Trust Fund preserves, retains and maintains historic places, buildings, trees, bush and other vegetation situated in Dunedin by determining applications made to the Dunedin Heritage Fund, a contestable grant administered by Dunedin City Council and Heritage New Zealand.
Non-trading Council controlled organisations
Council has five non-trading Council controlled organisations:
- Tourism Dunedin Limited
- Dunedin Events Limited
- Dunedin Visitor Centre Limited
- Otago Power Limited
- Lakes Contract Service Limited
These organisations are exempt under section 7(3) of the Local Government Act 2002 for non-trading Council controlled organisations from the requirement to fulfil reporting and other requirements imposed by the Act. Council last reconfirmed this exemption in August 2024.Associated Companies
Golden Block Investments Limited
Golden Block Investments Limited owns and manages a retail property in central Dunedin with the Council being a 49% shareholder. Major tenants include Starbucks, Fisher and Paykel, Millers and Barkers.
New Zealand Centre of Digital Excellence
The New Zealand Centre of Digital Excellence (CODE) supports the development and expansion of New Zealand’s video game development industry, including game development funding, tertiary curriculum development, and education and networking events. The Council is a 49% shareholder.