Rivals vie for the public’s vote
The fight for power on the Auckland Energy Consumer Trust will begin again later this month.
Rival groups Citizens & Ratepayers and Powerlynk are both promising to keep the 75.1 percent of electricity company Vector, owned by the trust, in public ownership after the October election.
Households in Auckland city, Manukau city and most of Papakura get to vote, because they live in the former Auckland Electric Power Board area, which preceded the trust before government reforms in 1993.
Lone Powerlynk trustee Shale Chambers says the trust shouldn’t have sold 24.9 percent of its shares in 2005.
Of the $592 million of shares issued, $380m was used to buy gas company NGC.
But trust chairman Warren Kyd says the purchase of NGC has allowed the trust to increase the dividend it pays out to households.
“It got the company on the growth path.
“Growing the dividend is probably the thing the public is most interested in.”
Another important election is- sue is Vector’s development of its broadband cabling network, which runs in underground power ducts and over power lines throughout the city.
Mr Kyd says Vector has been in talks with the government about access to a $1.5 billion fund aimed at speeding up broadband internet for some time.
Other candidates in the AECT election include the Just Power – No Politics group led by former trustee John Collinge and several independents.
For a full list of candidates visit www.aect.co.nz.