The returning officer for the Entrust trustee’s election has reported a first day vote count of 3078 way more than the
471 recorded on the first day of voting back in 2015. (There are nearly a further 9 days before postal voting closes for
the 302,000 eligible voters to vote but if you want your vote definitely counted, you should post it back by the 22nd of
October 2018.)
Entrust (formerly called the Auckland Energy Consumer Trust) holds 75.1% of the shares in Vector Auckland’s electricity
lines company on behalf of power account holders living in the old Auckland Electric Power Board area.
A higher than usual turnout often signals a change election commented Peter Neilson Team Leader for the City Vision for
Entrust Campaign. Aucklander’s in polling we commissioned, from Horizon Research said we were strongly opposed to, any
further privatisation of Vector, wanted the Entrust trustees to be better advocates for the electricity consumer and had
a high level of concern about the reliability of our electricity network.***
It is fairly easy to see why the turnout is so much higher this year;
There is a live proposal for Vector to sell off its Auckland network to a private party to be introduced by the merchant
bank UBS. This has been confirmed by the Chairman of Vector Mike Stiassny, and reporters at the NBR and The Australian.
Vector’s regulator the Commerce Commission has penalised Vector for excessive power outages in 2015 and 2016 and
foreshadowed similar penalties for 2017 and 2018.
Over the last three years the current $350 dividend paid by Entrust has not kept pace with inflation so has declined in
terms of what it can buy.
The earlier agreed $10.5m budget for undergrounding overhead wires and poles was cut so completing the whole
undergrounding programme would take more than 1000 years to be finished.
While this poor performance continues, the 5 current C trustees have been fighting amongst themselves, taking each other court and accusing each other of “bullying” and
“unprofessional” conduct. They have also dropped, respected company director Michael Stiassny as the Chair of Vector.
The C trustees have been paid an average of over $100,000 a year as either trustees or directors while this mess has
unfolded.
New Zealander’s rarely re-elect a third term government. This third term group of C trustees seem to have lost their focus, forgetting the consumers who elected them while indulging in infighting
It looks at this stage that the final Entrust election turnout will be well up on the less than 13% achieved in 2015.
City Vision is looking to lift the turnout across the city. As a united team, pledged to protect the dividend,
accelerate the undergrounding programme, strongly opposed to any further privatisation of Vector and wanting to work
with Vector to improve the reliability of our electricity network we are well placed to benefit from the increased
turnout that is occurring concluded economist, former cabinet minister and City Vision Team Leader Peter Neilson.
If you have not already voted open up the envelope, pick your 5 trustees and post back the envelope by the 22nd of
October 2018.