Network Tasman Trust Shares $3.32 Million With Local Electricity Users

As whānau living in Tasman and the wider Nelson area head into the Christmas period, it will be a little easier this month to pay for one of the five most essential utilities. Network Tasman Trust will today pay out $3.32 million to eligible customers connected to the Network Tasman Limited (NTL) electricity distribution network.

Approximately 41,500 customers will receive $80, which will be paid directly to them in the form of a credit on their next power bill. Eligible customers should receive this credit prior to Christmas, although the exact timing will depend on the various energy retailers’ billing cycles.

Eligible customers receive the credit regardless of who their retail power supplier is.

“Some customers think if they switch retailer they will no longer get a distribution credit, but this is not the case as the distribution comes from Network Tasman Trust not the retailer,” said Network Tasman Trust Chairperson Gwenny Davis.

The $3.32 million represents the surplus accumulated in the Trust’s funds, from NTL dividends received prior to 31 March 2021, along with interest received on investments.

The Trust recently voted to maintain its consumer trust ownership of NTL, which enables it to make this annual tax-free and GST-free distribution to all consumers connected to NTL’s network.

“Over the years, the Trust has paid over $66.3 million back into community hands,” said Davis. “As well, we’ve allocated up to $200,000 each year in grants and scholarships, though the through Network Tasman Charitable Trust, to individuals and groups in our local community.”

After many years of posting out cheques to beneficiaries, this is the second year the Trust has paid this money to customers as a credit on their power bills.

“It was a sad day for some not to get this little bonus in the form of a cheque just before Christmas, but we were becoming aware that banks were moving away from cheques and it was time for us to change,” said Davis. She wanted to remind anyone who finds an old cheque in their bottom drawer to come and talk to the Trust if it’s less than five years old.

More information about the distribution, including a series of Q&As, is available at https://www.networktasman.co.nz/distribution

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