About the TECT cheque
Each year, TECT sends out cheques to approximately 56,000 Consumers in the Tauranga and Western Bay of Plenty area. The cheques are made possible from the Trust's 26.8% shareholding in Trustpower and other investments.
Trustees send out a Distribution Plan for consultation each year. This determines the level of the TECT cheque and the eligibility criteria for that year. In 2016, TECT distributed $31.2m to 56,333 eligible Consumers. Each Consumer received a minimum of $440 and the average cheque was $553. Consumers who receive gas and broadband services from Trustpower recieved greater minimum cheque amounts. The payment was tax-free to Consumers.
WHO WAS ELIGIBLE FOR THE 2016 CHEQUE?
In 2016, the eligibility criteria was:
- Be a Trustpower power customer in TECT's District (basically in the Tauranga City or Western Bay of Plenty region [note1]); and
- Have an active Trustpower power account on 1 April 2016 and continuously through to 30 September 2016.
- If you move properties during the qualifying period, we allow a grace period of 30 days between the time you disconnect at the old property and reconnect at the new property.
Note 1: Parts of Waihi Beach are excluded from the TECT District. 106 Seaforth Rd - Bowentown end is included in TECT's District. 104 Seaforth Rd - Waihi Beach is excluded.
HOW MUCH DID CONSUMERS GET?
In 2016, each eligible Consumer received a fixed amount between $440 and $590 (depending on which services Consumers receive from Trustpower) plus a variable amount based on their total spend with Trustpower during the 6 month qualifying period - 1 April 2016 to 30 September 2016.
|Power account only||$440|
|Power + Gas||$490|
|Power + Internet||$540|
|Power + Internet + Gas||$590|
WHEN WHERE CHEQUES SENT?
TECT cheques in 2016 were mailed to eligible consumers in November.