TECT CHEQUES ARE BEING MAILED TO ELIGIBLE CONSUMERS NOVEMBER 2013.
Each year, TECT sends out cheques to approximately 57,000 Consumers in the Tauranga and Western Bay of Plenty area. The cheques are made possible from the Trust's 33% shareholding in TrustPower. TECT's policy is to distribute approximately 80 percent of its net earnings direct to Consumers by way of cheque.
TECT Trustees are yet to confirm details of the 2013 TECT Distribution payment. Last year (2012) each eligible Consumer received a fixed amount of $385 plus a small amount which varies according to each Consumer’s power usage. The payment was paid from TECT's capital and was tax free to the Consumer.
TECT has distributed over $195 million direct to Consumers since 1994 and the minimum amount per Consumer has grown from $20 in 1994 to $385 in 2012.
IMPORTANT: If you are with an alternative power supplier you are not eligible for a TECT cheque. If you wish to switch from an alternative supplier to TrustPower, you must contact TrustPower by 15 March 2013 to allow enough time for the transfer and registration to be completed by 1 April 2013.