Marlborough Lines, the electricity lines company owned by electricity users in Marlborough, made a pre-tax profit of $14.89 million this financial year, down 7.9 per cent on last year.
Company chairman David Dew said the result was achieved in a harder economic environment.
"What counts is Marlborough Lines' resilience and capacity to move forward, whatever the circumstances."
He said Marlborough Lines paid benefits totalling a record $9.267m this financial year to its customers and shareholder, the Marlborough Electric Power Trust, for the year ended March 31, 2012.
That worked out to a $237 discount paid to the average customer via electricity retailers in two lots during the year.
The trust owns all the shares in Marlborough Lines on behalf of all electricity customers in Marlborough.
It is having a public meeting today, to discuss its result and that of Marlborough Lines.
Mr Dew said Marlborough Lines continued its programme of maintenance and capital expenditure, investing a combined total of $19.794m in the Marlborough network over the year in these areas.
For the year ended March 31, a total of 385GW was delivered over the Marlborough network, a 0.24 per cent increase compared with the previous year and a reflection of the current economic environment which had restricted commercial growth within the region, he said.
In its annual report, Marlborough Lines said there were mixed signs that the economic recession might be easing and signs that Marlborough's principal industry - the wine industry - was stabilising after a period of uncertainty.
- The Marlborough Express