Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Councils Concerned as Vector Delays

The three Auckland Councils involved in Court action with the Auckland Energy Consumer Trust are very concerned that proceedings to clarify a proposed payout to consumers connected to Vector, have been unnecessarily delayed by the actions of the Trust’s company, Vector Limited.

“Vector has insisted on being involved in the proceeding. As a result, the hearing is delayed until April next year at the earliest. Vector has also indicated that it will oppose the production of documents that would show what the capital portion of the dividend in fact is. The information we want – what is income, and what is capital – shouldn’t be too difficult to provide. One is left wondering why we can’t get it,” says Mayor Chris Fletcher.

“We need the information so that Auckland’s legacy can be safeguarded. We want to hold onto a capital fund, for future investment in infrastructure.

Manukau City, Auckland City and Papakura District Council sought clarification about the nature of the $107 million distribution by the Trust to consumers connected to Vector. The Councils want to know what proportion of this distribution is capital (derived from asset sales) and which part is income – and therefore able to be given out to consumers. Under a section of the Trustee Act (1956), the Councils as “capital beneficiaries” are able to ask the Court for clarification. If it sees fit, the Court is able to restrain the distribution of money which is identified as “capital” so that this capital remains available to meet the future needs of Auckland for infrastructure.

When it looked like the distribution could go ahead without the Court having heard the matter, the Councils lodged an application for interim injunction to restrain distribution. The result of lodging the injunction was that the Court hearing date was brought forward to 2 December.

On Friday, Vector Limited, which is owned by the Auckland Energy Consumer Trust, stepped in and declared it had “an interest” in the matter. Previously, the matter had been solely between the Trust and the Councils. The company - supported by the Trust and by counsel for the income beneficiaries – argued that the clarification requested by Councils could affect their commercial decision making in the future. They asked for the matter to be delayed until next year.

“It’s ironic that it’s the Trust and Vector asking for a delay, since the Trust has been trying to push through payment without clarification. Now they’re delaying. We want the matter heard quickly, so that the income portion of the $107 million can be given out to consumers and the rest protected for Auckland’s future,” says Mayor Fletcher.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

New Reports: Flood Risk From Rain And Sea Under Climate Change

One report looks at what would happen when rivers are flooded by heavy rain and storms, while the other examines flooding exposure in coastal and harbour areas and how that might change with sea-level rise.

Their findings show that across the country almost 700,000 people and 411,516 buildings worth $135 billion are presently exposed to river flooding in the event of extreme weather events...

There is near certainty that the sea will rise 20-30 cm by 2040. By the end of the century, depending on whether global greenhouse gas emissions are reduced, it could rise by between 0.5 to 1.1 m, which could add an additional 116,000 people exposed to extreme coastal storm flooding. More>>



Gordon Campbell: On The Commerce Commission Fuel Report

The interim Commerce Commission report on the fuel industry will do nothing to endear the major oil companies to the New Zealand public... More>>


Emergency Govt Bill: Overriding Local Licensing For The Rugby

“It’s pretty clear some clubs are having difficulty persuading their district licensing committees to grant a special licence to extend their hours for this obviously special event, and so it makes sense for Parliament to allow clubs to meet a community desire." More>>


Leaving Contract Early: KiwiBuild Programme Losing Another Top Boss

Ms O'Sullivan began a six-month contract as head of KiwiBuild Commercial in February, but the Housing Ministry has confirmed she has resigned and will depart a month early to take up a new job. More>>


Proposed National Policy Statement: Helping Our Cities Grow Up And Out

“We need a new approach to planning that allows our cities to grow up, especially in city centres and around transport connections. We also have to allow cities to expand in a way that protects our special heritage areas, the natural environment and highly productive land." More>>


Ombudsman's Report: Ngāpuhi Elder 'Shocked' By Conditions At Ngawha Prison

A prominent Ngāpuhi elder is shocked to find inmates at Ngawha Prison are denied water and forced to relieve themselves in the exercise yard... Chief Ombudsman Peter Boshier has released a report highly critical of conditions at the Northland prison. More>>


Promises: Independent Election Policy Costing Unit A Step Closer

The creation of an entity to provide political parties with independent and non-partisan policy costings is a step closer today, according to Finance Minister Grant Robertson and Associate Finance Minister James Shaw. More>>


School's In: Primary And Intermediate Principals Accept New Offer

Primary and intermediate school principals have voted to accept a new settlement from the Ministry of Education, which includes entrenched pay parity with secondary principals. More>>


IPCA On 'Rawshark' Investigation: Multiple Police Failings In Hager Searches Confirmed

The Independent Police Conduct Authority has found that the Police's unlawful search of Nicky Hager's property in October 2014 resulted from an unwitting neglect of duty and did not amount to misconduct by any individual officer... More>>


Broadcasting Standards: Decisions On Coverage Of Mosque Attacks

The Authority upheld one of these complaints, finding that the use of extensive excerpts from the alleged attacker’s livestream video on Sky News New Zealand had the potential to cause significant distress to audiences in New Zealand, and particularly to the family and friends of victims, and the wider Muslim community. More>>




InfoPages News Channels