Julian Elder steps down from SmartCo board

MEDIA RELEASE

21 January 2014

Julian Elder steps down from SmartCo board

SmartCo announced today that Julian Elder is stepping down from the SmartCo board following his recent decision to resign as the CEO of WEL Networks.  Until WEL Networks appoints a full-time director to replace Julian, Tas Scott, General Manager of Asset Management, will be WEL’s point of contact.

Graham Clark, SmartCo’s chairman, paid tribute to Julian’s contribution to the company saying “Julian’s strategic vision and support of SmartCo from establishment to operations has been invaluable. We wish Julian all the best in future endeavours.”

“I’m pleased to have been able to help establish SmartCo and I believe it’s the right approach to get the network functionality to drive better outcomes for SmartCo customers’ and member networks’ businesses.” said Julian.

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About SmartCo

SmartCo provides high quality smart meter services to energy retailers.

SmartCo, a joint venture company owned by electricity lines companies including Alpine Energy, Electricity Invercargill, Counties Power, Network Tasman, Network Waitaki, The Power Company, On Metering and WEL Networks, will serve more than 250,000 urban and rural consumers across New Zealand.

For more information please visit:

www.smartco.co.nz