The $350 Entrust dividend recently received by electricity consumers was a welcome respite from our increasingly expensive lives in Auckland.
That is over $1000 in three years to every one of the 331,000 people with a power bill.
The risk is – will it continue? It will if the C&R team is re-elected!
Dividend at risk!
Every three years that dividend is put at risk from the outcome of the Entrust elections – the election of its five Trustees. Consumers are represented by five Trustees on Entrust.
With Entrust controlled by the C&R team over the last few years, the dividend has doubled.
The strength and experience of the C&R Communities and Residents team will deliver future dividends. Keeping the C&R majority on Entrust will continue to deliver strong governance to Vector and will continue to deliver your dividends.
If the C&R team is re-elected, your current position as a beneficiary of Entrust is guaranteed.
The C&R team will deliver the dividends, it will not sell down Vector and it will require Vector to independently audit the reliability of the power network.
Weather wreaks havoc
The April storm brought down powerlines across Auckland cutting electricity for many.
It was a reminder that weather events can cause havoc.
As a new election pledge, C&R will require Vector to commence having the reliability of the power network independently audited.
Many millions are spent each year on undergrounding power lines. This has grown to 55% of the network now undergrounded. C&R will keep supporting this programme.
Affordable and accessible
New energy technology such as electric vehicles and battery storage will change everything in time, but as change occurs, power must remain affordable and accessible to people like you and us.
Electricity consumers in much of Auckland own, through Entrust, 75% of Vector, the power lines business. Dividends from Vector’s profits are paid to Entrust. C&R Trustees will ensure Entrust pays the dividends to its owners – you, as an electricity consumer.
Entrust has control of the public-listed company, Vector. This requires strong corporate governance and experienced Trustees.
The Election Run
The election of Trustees runs until October 26, 2018, by postal ballot to your letterbox.
Each person with a power bill will get a vote.
To ensure your vote is counted, be sure to post it back by October 23, 2018.
Your vote matters – if you want to keep receiving your dividend.
If re-elected, my C&R – Communities and Residents team will ensure the dividend stays in your hands. Don’t risk it!
Please vote for all five C&R – Communities and Residents candidates.
“Entrust must be consumer focused, understand the needs of its growing, diverse communities and be world-class in delivery,” Mr Bell said.
Alastair Bell is a Director, Accountant, Change Manager and Community Advocate. He has a Bachelor’s degree in Commerce and he is a Chartered Accountant, Chartered Director and a Project Management Professional.A resident of Orakei with 30 years’ experience in corporate, public and not-for-profit sectors, his interests include environmental and business sustainability, Auckland’s infrastructure and heritage, travel and skiing.
Mr Bell is Deputy Chair, Foundation North (formerly ASB Community Trust); Founding Chair, Centre for Social Impact; Trustee, Motutapu Restoration Trust; Chair, Orakei Community Association;and Executive, Parnell Heritage.