Our history
The Trust’s origins hail from the Energy Companies Act of 1992, and the Electricity Industry Reform Act of 1998, requiring power boards to be incorporated, allowing communities to determine how the shares in the new energy companies were held.
Many communities, including Central Lakes allocated shares into a Trust. While many Trusts retained their lines business, with the 1998 reforms, Otago Central Electric Power Trust sold their lines business and retained the generation business (now Pioneer Energy), settling these assets in Central Lakes Trust. Pioneer forms part of our investment portfolio powering our grants.
2018
For the first time in CLT's history, the Trust was oversubscribed, seeing a 60% increase in both the number of grants (from 95 to 152) given out and the level of funds required to support the community. With the extreme growth and changes in the population demographic, the needs of the community had changed.
2016
CLT’s largest ever grant of $11.15 million over five years was granted to link Central Otago’s Great Rides to create 536km of trail network, linking the four existing rides, the Queenstown Trail, the Otago Central Rail Trail, the Roxburgh Gorge Trail, and the Clutha Gold Trail, creating one the of the largest continuous trail networks in the world.
2000
The OCEPT Deed determined that the funds from the sale of the lines/retail and the generation businesses had to be used for charitable purpose. The OCEPT’s board proposed that Central Lakes Charitable Trust be created so that each year charitable projects throughout Central Lakes would be supported; to enhance the community and the lives of the people within.
1920 - 1999
The Otago Central Electric Power Board pioneered electricity supply, building hydro-power stations from 1924. Restructuring mandated incorporation as Central Electric Limited in 1993. After separating generation from lines in 1999, the company sold its lines business, renaming itself Pioneer Generation Limited under the Otago Central Electric Power Trust.