Time for a Change in Trustees say Your Power Team candidates

Media Release Tuesday 9 October

“Time for a Change in Trustees” say Your Power Team candidates for the AECT election

The YOUR POWER TEAM contesting the Auckland Energy Consumer Trust (AECT) election has slammed the administration of the Trust as arrogant, unaccountable and careless in the use of the funds which it administers on behalf of the people of Auckland. Strong words but necessary.

C&R have ‘$320=C&R’ slashed across their billboards and the current C&R trustees have spent many thousands of dollars of AECT money in self-promotional advertising associated with the mailing of the dividend payment, including a coloured brochure advertising the current five C&R trustees. This is a gross misuse of AECT beneficiary funds for electioneering purposes and the public should know that these expenses are their own dividend income being squandered. After the election, YOUR POWER TEAM will send a bill to C&R trustees on behalf of the 312,700 people who could have had a greater dividend.

AECT under the current trustees spends at least $1.2 million each year on “other administration expenses” details of which it will not disclose, but we know that a large amount is for payments to consultants and for legal advice. Apart from substantially cutting this expenditure the YOUR POWER TEAM would ‘open the books’ to disclose full details of all expenditure, including the apparently high level of AECT expenditure on entertainment. It would also cut the current exorbitant trustees fees of $350,000 per year by 40% to bring them into line with comparable organisations.

YOUR POWER TEAM are standing to bring accountability to the work of the Trust. We will stop the gravy train of high trustee fees and consultant spending; work with Vector to maintain a good dividend; ensure AECT Trust transparency and accountability and make sure energy is affordable and sustainable for future generations of Aucklanders.

For more information, see YOUR POWER TEAM policy and candidate information at www.yourpowerteam.org.nz, facebook.com/Your Power Team for AECT 2012, yourepowerteam2012@gmail.com, or contact one of the candidates:
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