Trust acts to protect Trustpower rebates

Thu, 18 Feb 2021

Trustpower’s second-largest shareholder plans to maintain payments to its customer beneficiaries irrespective of the company’s proposal to sell its retail business.The Tauranga Energy Consumer Trust owns 26.8% of Trustpower, the country’s fifth-largest electricity retailer, on behalf of about 49,000 customers in Tauranga and the western Bay of Plenty.It is planning to change its trust deed so customers of the firm at Jan 28 can continue receiving their annual rebates as long as they remain a customer of Trustpower — or t...

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