More than 55,000 Bay of Plenty residents will be keeping a close eye on their mailboxes as TECT carefully fills each envelope with its annual dose of pre-Christmas cheer.

This week TECT are handing out $28.4million to its customers as part of its annual cheque distribution scheme, stretching from Waihi Beach to Otamarakau.

TECT chairman Bill Holland and general manager Wayne Werder organising the annual round of TECT cheques. Photo: Tracy Hardy.

TECT chairman Bill Holland says the multi-million dollar figure will go to more than 55,000 Trustpower account holders, receiving a minimum of $425 per household.

Customers who have had an account continuously from April 1 to September 30, 2014 and live in the Tauranga or the Western Bay of Plenty, are in line for the annual payout.

Getting a TECT cheque in the mail each year is a bonus for many and during the last 21 years the average cheque amount has risen from $30 in 1993.

The base amount for this years' cheque is $425 – up $25 from last year.

Bill says the cheque distribution is timed nicely before the Christmas season, and it's hoped the majority of cheques will be spent in Tauranga's retail sector, providing a huge boost to the local economy.

'The TECT cheque is a tremendous boost to the Tauranga economy every year”, says Bill.

'We are delighted that we have been able to increase the payment to our consumers again.”

This year TECT is injecting more than $38m into the local economy.

In addition to the direct distribution to consumers, hundreds of community organisations will benefit from TECTs Funding Schemes, where $9.6m is available for community amenities, community development projects, community events, electrical items and energy efficiency initiatives.

TECT general manager Wayne Werder is passionate about the funding schemes.

He says: 'I think it's fantastic that we have this asset for the Western Bay of Plenty region and we can support such a variety of charitable organisations that play such an important role in our community.”

The cheques are a direct result of TECT's 33 per cent shareholding in TrustPower. The exact value of each cheque comprises a set base figure for each consumer, plus a small amount which varies according to each consumer's electricity usage.

In the last 21 years TECT has been able to distribute $275 million by way of cheques back to its consumers, and a further $81 million to local community organisations such as the Trustpower TECT Rescue Helicopter, Baywave, TECT All Terrain Park, ASB Arena, Waipuna Hospice plus thousands of others.