INDEPENDENT NEWS

Hutt-Mana-Energy-Trust Share Bid Overwhelms

Published: Tue 28 Sep 1999 03:33 PM
Hutt-Mana-Energy-Trust Share Bid "Overwhelms" Issues Raised In Trust's Annual Plan
The current bid by TransAlta Canada for the shares Hutt Mana Energy Trust owns in TransAlta New Zealand has "overwhelmed the issues" in the Trust's draft annual plan consultations.
That's the view of strategic analyst Kay Hewitt, director of Future Impacts Ltd, after reviewing a record 328 submissions on behalf of the Trust.
Ms Hewitt said the "sell/don't sell" debate was not canvassed in the draft annual plan, but it was revealed as the main focus.
Of the 328 submissions, 263 - or 84 per cent - believed the Trust should not sell the shares, compared with 16 per cent - 42 people - who wanted the shares sold.
Only 60 submissions responded to the issue of whether the Trust should support community projects.
Of these, only 14 explicitly stated they were in favour and 46 were against.
There were fewer responses as to whether the Trust should support energy related projects.
Of 28 who commented, 19 were explicitly in favour and nine were against.
Ms Hewitt said submissions "largely ignored" what Trustees had anticipated would be an extremely sensitive issue - to continue or discontinue rebates to consumers.
Only 25 commented with 23 saying they definitely wanted the rebate to continue and two wanted it discontinued.
Of the 328 submissions 138 were from Lower Hutt, 49 from Porirua, north, 64 Tawa and no location given for 39.
There were 285 individual submissions, 24 from organisations and 19 in an "unknown" category.
Trustees will hear oral presentations from 26 people on September 30 at the Queensgate Tower theatrette in Knights Road, Lower Hutt.
Starting at 10 am, the meeting will be open to the public but speaking rights are given only to those making submissions and who asked to make a personal presentation.
ENDS....

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