About Us
TECT (Tauranga Energy Consumer Trust) was formed in December 1993 and is now one of New Zealand’s largest energy trusts. TECT’s income and capital is used to provide benefits to Consumers during the term of the Trust. Our "Consumers" (approximately 62,000) are TrustPower account holders basically in Tauranga City and the Western Bay of Plenty District.
TECT’s income is mostly derived from its 103,878,838 shares, representing 33% in the capital of TrustPower Limited. This investment is worth approximately $752 million (at 31 March 2010).
In the past 17 years, we’ve returned millions of dollars back to Consumers and the Community, supporting thousands of people and good projects throughout our District.
On the winding up of the Trust (year 2073) the assets of TECT, which remain, will be distributed for the benefit of Consumers.
BACKGROUND
TECT was established under a Trust Deed on 21 December 1993 as a consequence of the Tauranga Electric Power Board’s Establishment Plan. On 1 April 2004 Consumers in the Tauranga district previously supplied power by Tauranga Electricity Limited were included as Consumers of the TECT following negotiations with the Tauranga District Council and compensation agreed upon at $2,500,000.
