Alastair Bell
Auckland, October 3, 2018
The $350 Entrust dividend recently received by electricity and gas consumers was a welcome respite from our increasingly expensive lives in Auckland.
That is over $1000 in three years to every one of the 331,000 people with an electricity bill.
The risk is – will it continue? It will, if the C&R team is re-elected!
Dividend at risk
Every three years that dividend is put at risk from the outcome of the Entrust elections. That is why I am standing with the experienced C&R team which will continue to deliver your dividends.
Entrust controls Vector, a power company, and needs the strength and experience of the C&R team to continue to deliver to consumers.
The C&R team will deliver the dividends, it won’t sell down Vector and it will require Vector to independently audit the reliability of the power and gas networks.
If the C&R team is re-elected, your current position as a beneficiary of Entrust is guaranteed.
With Entrust controlled by the C&R team over the last few years, the dividend has doubled.
Evolving markets
New energy technology such as electric vehicles and battery storage will change everything in time, but as change occurs, power and gas must remain affordable and accessible to people like you and me.
The April (2018) storm brought down powerlines across Auckland cutting electricity for many. It was a reminder that weather events can cause havoc.
As a new election pledge C&R will require Vector to commence having the reliability of the power and gas networks independently audited.
Many millions are spent each year on undergrounding power lines.
This has grown to 55% of the network now undergrounded. C&R will keep supporting this programme.
C&R Trustees assurance
Power consumers in much of Auckland own, through Entrust, 75% of Vector, the power lines and gas supply business. Dividends from Vector’s profits are paid to Entrust.
C&R Trustees will ensure Entrust pays the dividends to its owners – you, as an electricity and gas consumer.
Entrust has control of Vector, a public listed company. This requires strong corporate governance and experienced Trustees.
The election of Trustees will take place from October 11 to October 26, 2018 by postal ballot to your letterbox.
Each person with a power or gas bill will get a vote. To ensure that your vote is counted, place post it back by October 23, 2018.
Your vote matters – if you want to keep receiving your dividend.
If re-elected, my C&R – Communities and Residents team will ensure the dividend stays in your hands. Don’t risk it!
Entrust must be consumer focused, understand the needs of its growing, diverse communities and be world-class in delivery.
Alastair Bell is a Candidate of Communities & Residents (C&R) in the forthcoming election for Entrust. He is a Director, Accountant, Change Manager, Community Advocate, Chartered Accountant, Chartered Director and Project Management Professional.
A resident of Orakei, with 30 years of experience in corporate, public and not-for-profit sectors, his interests include environmental and business sustainability, Auckland’s infrastructure and heritage, travel and skiing.
Mr Bell is Deputy Chair, Foundation North (formerly ASB Community Trust), Founding Chair, Centre for Social Impact, Trustee, Motutapu Restoration Trust, Chair, Orakei Community Association and Executive, Parnell Heritage.
