Introduction to integrated reporting
The electricity and telecommunications industries are both dynamic and changing rapidly. Issues such as increasing demand for renewable energy generation, variable wholesale energy costs, ever-growing demand for data and a trend towards bundled services are among the external issues facing our industries.
We have asked our stakeholders what risks and opportunities they feel are material to Trustpower’s ability to create value. Our stakeholders include anyone that has something to gain, or something to lose, from our activities. They include investors, partners, suppliers, staff, iwi, government agencies, customers and the communities in which we operate.
Material issues identified by our stakeholders include:
- Addressing climate change
- Protecting water quality and biodiversity
- Genuine and authentic partnerships that benefit the community and the environment.
- Staff retention and development.
- Health, safety and wellbeing.
- Adding value to customers’ lives.
- Adding value to our communities.
- Investing in capability.
- Innovation and thought leadership for New Zealand.
In some areas, Trustpower is well advanced in implementing strategies to meet our aspirations in these areas. In other areas, we are still at the data-gathering stage. Uncertainties, such as the long-term effect of the COVID-19 pandemic, will be taken into account in our plans.
Regulatory framework and compliance
Trustpower operates in a heavily regulated industry. Our compliance activities in energy generation, trading and retail includes participation in an extensive annual audit regime undertaken by the Electricity Authority, as well as periodic audits by the Gas Industry Company Limited.
Additionally, as a signatory to the New Zealand Telecommunications Forum’s (TCF) Broadband Product Disclosure, Customer Complaints and Emergency Services Calling codes, Trustpower participates in the TCF’s annual self-certification compliance programme.