September 2, 2025
Toast Electric has once again announced an annual profit of zero dollars.
As New Zealand's only not-for-profit electricity retailer, Toast Electric continues to return every last cent of surplus directly to supporting households facing energy hardship. This approach stands in stark contrast to an environment where electricity bills are rising and one in five New Zealanders now struggle to pay their power bills. Toast Electric, an initiative from Wellington's Sustainability Trust, operates without shareholders – instead channelling all surpluses from general-income customers to lower-income households. The company has more than doubled its customer base in the past year, hitting a milestone 2000 customers across its regions just this week.
Over the past winter, Energy Wellbeing customers received significant bill reductions while trained Sustainability Trust advisors provided comprehensive support including home energy assessments, free curtains, heating upgrades, advice and advocacy for tenants whose rental properties failed to meet Healthy Homes Standards.
Since last year, over $80,000 worth of power bill relief has been provided to Energy Wellbeing customers and Toast Electric has also expanded its reach into the Wairarapa, Christchurch and mid-Canterbury.
Phil Squire, Toast Electric's Fair Energy Manager, noted the disconnect between industry profit announcements and the reality facing many families. “Expecting commercial organisations structured for shareholder profit to manage the social issue of energy hardship is more than a little unfair. We’re calling on industry and government to divert some of those profits to social retailers like ourselves so we can grow and continue to support our communities with this essential resource. Community-based organisations are well-networked and best-placed to serve struggling families, we just need the pūtea and regulatory changes to create lasting solutions.”
Toast Electric's $0M profit announcement comes as households continue to grapple with a tough winter, following on from significant electricity bill increases that hit earlier this year. Toast Electric operates from Sustainability Trust's central Wellington offices and serves households and businesses across Wellington, Hutt Valley, Kāpiti, Wairarapa, Horowhenua, Christchurch and mid-Canterbury regions.
For media enquiries: Emlou Lattimore: emlou.lattimore@sustaintrust.org.nz
About Toast Electric: Toast Electric is New Zealand's only not-for-profit electricity retailer, operated by Sustainability Trust. Rather than returning profits to shareholders, Toast Electric directs all surpluses to supporting low-income customers through its Energy Wellbeing programme.
About Sustainability Trust: Sustainability Trust is a Wellington-based charitable trust working to create sustainable communities through practical environmental and social programmes.