Trustpower to probe TECT proposal to ditch customer rebates for community projects

Wed, 24 Jan 2018

By Paul McBeth Jan. 25 (BusinessDesk) - Trustpower will take a close look at a proposal by cornerstone shareholder Tauranga Energy Consumer Trust to ditch customer rebates in five years in favour of funding community projects. The trust owns 26 percent of Trustpower and distributes the bulk of its income to the power company's Tauranga and Western Bay of Plenty customers. TECT has told Trustpower it plans to transfer its assets into a new entity to distribute funds to community and charitable groups, aiming to triple the amount available...

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