Nauru Utilities Corporation - Corporate Strategy

Abstract

Nauru Utilities Corporation was established under the terms of its own Act of Parliament1 on 24 June 2011. The Act sets out the purposes of the NUC and establishes its regulatory, governance, and management structures. The powers and functions of NUC relate to the generation, transmission, and supply of electricity; the treatment, distribution, and supply of water; and the buying, storing, and selling fuel within Nauru. NUC’s corporate form is that of a non-departmental public body in that it has no shareholders or board of directors, but is subject to Ministerial oversight and has a legal personality separate from that of the Government. The Minister is advised by an Advisory Committee in connection with matters related to the operation of NUC, and operational matters are managed by a Chief Executive Officer (CEO). The corporation requires cabinet approval for borrowing, acquisition or disposal of property, and must ensure that proper accounting records are kept. The approval of the Minister is required to appoint the corporation’s external auditor. NUC is the successor body to the Nauru Utilities Authority (NUA) which took over the utilities operation from the predecessor body of Republic of Nauru Phosphate (RonPhos)2 in July 2005. NUC’s fixed assets comprise of those initially inherited from the Nauru Phosphate Corporation (NPC) and those subsequently funded by donor partners or NUC itself.