Trustpower says the Tauranga Energy Consumer Trust consultation plan is appropriate, and preserves customers' rights.

Trustpower says its existing customers will have very similar rights to the current TECT rebate under changes to the trust deed proposed by TECT today.

'We know the TECT rebate is valued by our customers and it's pleasing to see our customers' rights are largely retained under the proposed amendments to the trust deed,” says Trustpower chief executive David Prentice.

'The trust's proposal is well-thought out and provides sufficient detail for our customers to make an informed decision about amendments to the deed.”

David says the trust's action to consult with Trustpower's customers in the greater Tauranga region over proposed amendments to the trust deed is appropriate, given Trustpower's announcement of a strategic review and possible sale of its retail business.

'We have considered the reform process set out in TECT's proposal, which includes community consultation and an application to the High Court, and consider that process to be right and robust,” says David.

David notes the company has opposed a previous trust proposal to reform the deed, saying it had involved a fundamental change to beneficiaries' entitlement – the TECT rebate.

'This proposal is noticeably different, as it preserves our customers' rights and is put forward as a result of our announced strategic review of the business,” says David.

David says it's important people understand that the outcome of the strategic review is not predetermined.

'No decision has been made to retain or sell the business, but it is prudent of the trust board to consult with our customers in light of Trustpower's strategic review,” says David.

'The trust and Trustpower are separate entities but we share a common goal of seeking the best possible outcomes for the trust's beneficiaries, our customers.”

He urges customers to read the trust's proposal closely and engage in the public consultation process so that their views are heard and understood.

'We believe everyone deserves to be fully informed as to the facts of the proposal and be able to have their say,” says David.