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On this page you will find additional information to help you when reading the Aurora Energy Proposal consultation. You can read through to relevant information depending on what topic you are interested in by subject.

Aurora Energy Limited

Dunedin City Council and Dunedin City Holdings Limited (DCHL)

Waipori Fund

Energy distribution business regulation:

Glossary

Aurora Energy Limited (Aurora Energy) – an electricity distribution business servicing Dunedin and parts of Central Otago (including Wanaka) and Queenstown Lakes.
Assets – a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.
Commerce Commission – New Zealand’s competition, fair trading, consumer credit and economic regulatory agency. The Commerce Commission play a role in ensuring New Zealand’s markets are competitive, consumers and businesses are informed and empowered, and their interests are protected, and sectors with little or no competition are appropriately regulated. This includes Electricity Network Businesses in private and public ownership.
Council – Dunedin City Council
Council Group – this is Council and its subsidiary and associated companies.
Diversified Investment fund (the fund) – means, if DCHL sells Aurora Energy, an investment portfolio that would be established with the net proceeds from the sale, consisting of a diverse portfolio of investments that would generate income for the Council. Council’s 9 Year Plan 2025-34 would include options for consultation on ways to protect the capital of the investment fund for the future.
Dunedin City Holdings Limited (DCHL) – DCHL is 100% owned by Council. DCHL is the governing shareholder of eight subsidiary and associate companies. These include Aurora Energy Limited, City Forests Limited, Delta Utility Services Limited, Dunedin International Airport Limited (DIAL) (50%), Dunedin City Treasury Limited, Dunedin Railways Limited, Dunedin Stadium Property Limited, and Dunedin Venues Management Limited. DCHL owns 50% of the shares in DIAL, the other 50% is owned by the Crown. DCHL has its own board of Directors. DCHL can only sell Aurora Energy if Council gives prior approval.
Divestment – in this document means to sell Aurora Energy.
Liquidity – is the ability to turn assets into cash.
Medium term: in this document the medium term is taken to be up to 2033.
Waipori Fund – a well-established investment portfolio, established in 1998, using the proceeds from the sale of the Waipori electricity generation assets. The primary objectives of the Waipori Fund are to maximise its income, subject to a proper consideration of investment risk; and grow the Fund’s base value, while maintaining an agreed cash distribution to Council. The cash distributed to Council is used to offset rates.

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