Whether we're serving Consumers individually or via Consumer Organisations, sponsoring an event or supporting the local hospice, TECT Trustees take their responsibilities to TECT's Consumers seriously.  We're committed to making an active and positive contribution to the lives of our Consumers and their communities.

TECT (TAURANGA ENERGY CONSUMER TRUST) WAS FORMED IN DECEMBER 1993 AND IN MARCH 1994 RECEIVED OVER 44 MILLION SHARES IN TRUSTPOWER LIMITED.  TODAY TECT HOLDS A 33% SHARE IN THE CAPITAL OF TRUSTPOWER.

The purpose of TECT is to manage the assets of the Trust for the benefit of qualifying Consumers during the term of the Trust.  "Consumers" are TrustPower account holders basically in Tauranga City and the Western Bay of Plenty District.  The Deed of Trust provides Trustees with a number of ways to deliver benefits to Consumers.  TECT is one of New Zealand's largest Energy Trusts.  TECT's policy is to distribute approximately 80 percent of its net earnings direct to Consumers by way of cheque and the balance indirectly to Consumer benefit via Consumer Community Organisations.

The Trust is governed by six Trustees who are elected by Consumers for 4-year terms.  The terms of appointment of Trustees are staggered so that three Trustees retire every two years.  An election of Trustees was held in June 2010.

For the 62,000 Consumers, TECT is probably best known for the cheques it provides annually to them.  Direct distributions to Consumers are being made at record levels to record numbers of Consumers.  Subsidies to community organisations are providing significant encouragement to those organisations in their valuable work of building a vibrant community.  Funding towards amenities/projects such as the Waipuna Hospice, TrustPower TECT Rescue Helicopter, TECT Rescue Vessel, Tauranga Indoor Sports & Exhibition Centre, Baywave TECT Aquatic & Leisure Centre and TECT All Terrain Park are greatly valued by Consumers and will significantly benefit future generations of Consumers too.