The incoming chairwoman of Aurora Energy says customers should be able to see the benefits of the company’s long-term investment decisions.

Company director Janice Fredric is to chair the board from October 1, taking over from Steve Thompson, who announced earlier this year he would step down at the end of September after 10 years as chairman.

Aurora Energy is owned by the Dunedin City Council and its most recent years have been focused on modernising the electricity network after historical under-investment.

Ms Fredric has been a board member since July 2022 and she chairs the company’s audit and risk committee.

She had a clear view of progress made and work still ahead, she said.

“The board’s job is to make sure we keep making sound, well-evidenced investment decisions over long-term horizons, and that customers see the benefit of them,” Ms Fredric said.

Aurora is the largest trading company within the council’s Dunedin City Holdings Ltd (DCHL)  group.

DCHL chairman Tim Loan said Ms Fredric was an experienced director who was also serving as Lincoln University chancellor.

“She brings to the chair role a wealth of governance experience, financial acumen and strategic insight, and her established knowledge of Aurora means she will provide continuity and stability from day one.”

Aurora’s annual report last year said the company was preparing for “a new energy future”.

“Our commitment to enabling electrification and decarbonisation is stronger than ever, with targeted investments and digital innovation laying the foundation for a resilient and future-ready network.”

Aurora is the primary electricity distribution service provider in the fast-growing Queenstown and Upper Clutha areas.

“Janice takes up the role as Aurora positions the business to support the energy transition across the region and to deliver for electricity consumers,” Mr Loan said.

“The company has a clear strategy, a capable team, and a network in better shape than it has been in a generation.”

Mr Thompson’s time as chairman included a period in 2024 when it appeared Aurora could be sold.

In the end, strong public opposition persuaded the council to keep the company.

Lack of dividends for the council has been an issue in recent years.

For the past five years, the company adhered to a tailored pricing plan approved by the Commerce Commission.

The customised price-quality path enabled the company to invest in its network while limiting price increases for customers.

“The extensive work carried out by the Aurora Energy team during these years has enabled us to re-establish a solid foundation for the business, including significant investment in the safety and reliability of the network,” the company said in its annual report.

Mr Loan paid tribute to Mr Thompson’s service.

“Over the past decade, he has steered the business through the challenges of historical under-investment, the customised price-quality path and an intensive programme of network renewal — and out the other side into a position of genuine strength and sector leadership.

“Steve has led the Aurora Energy board through one of the most significant periods in the company’s history.”

Mr Loan said a smooth transition from Mr Thompson to Ms Fredric reflected maturity and stability of the organisation.