Network Tasman Trust Announces $3.4 Million Distribution To Local Consumers

Electricity consumers across the Network Tasman distribution area will receive a welcome boost on their summer power bills, with Network Tasman Trust confirming a $3.4 million distribution to its consumer beneficiaries.

The annual distribution will be applied to the power accounts of around 43,000 electricity connections (ICPs) across the Network Tasman distribution area, covering both households and businesses. The credit will appear automatically on consumers’ December or January power bills.

Network Tasman Trust Chair Gwenny Davis said the distribution reflects the value of community ownership and the Trust’s commitment to returning benefits directly to local consumers.

“The Trust was established to ensure local consumers share in the value of the electricity network they collectively own,” Ms Davis said.

Davis says the Trust are pleased to be able to distribute the dividend received from the Company along with funds invested by the Trust from the sale of the energy and retail arm of the company back in 1998. “This annual distribution is one of the most tangible ways we can return that value to households and businesses across our region.”

The distribution per connection will appear as a separate line item on consumers’ power bills. Eligibility is based on having an active electricity connection (ICP) during the qualifying period, with one credit provided per ICP.

For more information about Network Tasman Trust, visit www.networktasman.co.nz/trust-distribution/

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