Sustainable governance, financial and risk management foundations

Te Teo is the foundational pillar of our work. Drawn from the te ao Māori concept of a hitching stake, Te Teo underpins and supports the delivery of our pou through robust governance, good financial management and identifying and mitigating risk.

Goals and targets FY26

Here's what we want to achieve for Te Teo over the short, medium and long-term.

Short term (1 April 2025 - 30 March 2026)

  • Enterprise risk management - At least a third of FY26 business plan initiatives include uniform risk assessment, Risk Appetite Statement, and action plan.
  • Financial stability - Maintain our existing S&P credit rating (BBB).
  • Sustainable governance - Undertake Director professional education sessions that align with current or anticipated gaps identified through the FY25 Board competencies evaluation.
  • Sustainable governance - Undertake an annual review of the performance of the Audit and Risk, Regulatory and Asset Management, Treasury and HR and Remuneration Committees’ performance against their Charters, and the Board’s performance against the Health and Safety Charter. 


Medium term (1 - 3 years)

  • Financial stability - Secure gas regulatory settings that enable us to fund and deliver our gas strategy.
 

What we've done FY25

  • We exceeded our target of a third of our FY25 business plan initiatives having a consistent risk assessment approach delivered.  These are aligned to our Enterprise Risk Management framework, risk acceptance criteria and mitigation responsibilities. Response plans to these events have been formulated in co-ordination with regional and national emergency response agencies and other key infrastructure owners.
  • Our S&P credit rating was maintained at BBB, providing confidence in our financial stability.
  • Proactive engagement with the Commerce Commission, fully informed and supported information provisions, and the ability to apply for extra funding throughout the regulatory period, have assisted in delivering regulatory settings that provide certainty on our ability to fund the growth and renewal of our electricity network.
  • Our Governance Board undertook two ESG professional education sessions on Cyber/AI and Health and Safety.
  • Reviews of performance against all Board charters in FY25 with no material non-conformances.  
 

 

What we've done FY24

  • We implemented a refreshed enterprise risk management
    framework through the delivery of 11 risk deep dives, aligned to
    our four strategic priorities and assessed in a consistent manner
    using environmental, social, governance and operational risk
    criteria. This provided a modern approach to risk, aligned with our
    strategy processes and integrated across the business.

Supporting links

Who we are
Disclosures and submissions

Unlocking green finance

Our mahi: During FY24 we established a Green Finance Framework to demonstrate that we manage our electricity assets while meeting rigorous climate mitigation, adaptation and resilience standards. The Framework supports our Climate Bonds Initiative (CBI) certification which is used to access sustainability-linked green loans and bonds. Our Framework is just part of our sustainability journey and commitment to enabling the sustainable energy transition. 

Learn more

The pillars of our work