TECT was established under a Trust Deed on 21 December 1993 as a consequence of the Tauranga Electric Power Board's Establishment Plan. It is now one of New Zealand’s largest energy trusts.
TECT’s income and capital is used to provide benefits to its beneficiaries during the term of the Trust. Beneficiaries (approximately 56,000) are Trustpower account holders basically in Tauranga City and the Western Bay of Plenty district.
TECT provides benefits to its Consumers in two ways:
Direct - via the annual Cheque Distribution
TECT has distributed $338 million direct to Consumers since 1994 and the minimum amount has grown from $20 per Consumer in 1994 to $435 per Consumer in 2018.
Indirect - via the Grants Programme
TECT makes grants and donations to non-profit community organisations throughout Tauranga and the Western Bay of Plenty each year. The Trust makes grants in the education, arts, sport, recreation, environment, energy efficiency, heritage, health and social services areas. We take a keen and active interest in our grant recipients to ensure that the funding truly benefits the wider community.
In the past 25 years, TECT has returned millions of dollars back to Consumers and the Community, supporting thousands of people and good projects throughout the district.