A lot at stake in TECT proposal

The proposals put forward to convert TECT Consumer Trust to TECT Charitable Trust over five years looks great on paper, but the reality is somewhat different.

Having been a member of the consumer base for some time, it is great getting the TECT cheque. The cheque amounts to about six to eight weeks power and its payment is brought about by consumers paying a premium for power.

If one checks other power suppliers it is obvious Trustpower is more expensive as a direct comparison, but take into consideration the TECT cheque, then it comes out almost the same as some of their competitors.

We also have the added advantage, or disadvantage depending on your views, of contributing to community projects and charitable organisations.

There is also the costs involved in paying trustees and other workers associated with the trust's day-to-day operations. If both the consumers and charitable trusts were disbanded, Trustpower could reduce their pricing and become more competitive and consumers could make donations to charities as they saw fit.

Whatever happens, consumers should think long and hard about the changes suggested and then make a submission. After all, there is a lot at stake.

P Burrell, Katikati (Abridged)

1 Comment

Think hard about the TECT proposal

Posted on 06-02-2018 10:42 | By K Beetham

Tauranga residents originally donated their Trust Power shares to create TECT for the purpose of protecting Tauranga consumers from power prices. The primary purpose of the consumer trust is to protect consumers. The current TECT board are offering a bribe to current beneficiaries to give away that protection to all future generations. TECT was founded to protect Tauranga residents from greed and short term thinking. I hope the current generation realise the bribe is not theirs to take.

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