About the TECT Rebate

The below information relates to the July and early December 2020 rebates. 

Traditionally the rebate has been paid annually. However, based on feedback and with the ability to pay directly into bank accounts, trustees decided to pay the rebate out in two instalments from 2020; 50% in July and 50% in early December.

TECT Trustees send out an Annual Distribution Plan for consultation at the beginning of each year. This determines the level of the rebates and the eligibility criteria for that year.  View the Draft Annual Distribution Plan.

2020 Rebates

Who is eligible for the 2020 rebates?

To be eligible to receive the TECT rebates in 2020, you must meet the following criteria:

  • Be a Trustpower power customer with an active power account in the same name, basically in the Tauranga City or Western Bay of Plenty region* during the eligibility periods.
  • For the July 2020 rebate, the eligibility period is 1 October 2019 – 31 March 2020.
  • For the December 2020 rebate, the eligibility period is 1 April 2020 – 30 September 2020.
  • If you move properties during the qualifying period there must be less than 30 days between finalising one account and registering with Trustpower into the new property.

*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 are the rebates?

The Draft Annual Distribution Plan for 2020 proposes that eligible beneficiaries will receive:

  • $220 fixed (minimum) amount in July, plus a variable amount based on their total spend over the qualifying period.
  • $220 fixed (minimum) amount in early December, plus a variable amount based on their total spend over the qualifying period.

When are rebates made?

The distributions will be made in July and early December.

Why are there now two rebates per year?

In 2019 we implemented a new rebate payment approach giving TECT beneficiaries* the option to receive their rebate direct into their bank account.   Given the success and positive feedback from this approach, the trustees made the decision to implement this approach permanently.  This provided us with the opportunity to make two payments per year.

We also listened to your feedback on the timing of payments and recognised that there are a number of advantages to having two rebate payments per year. These include:

  • Eligible beneficiaries will receive 50% of their annual rebate earlier (paid out in July).
  • Beneficiaries who have a change in living circumstances (and therefore would usually become ineligible for the full rebate) could still receive 50% of the rebate.
  • Feedback received after the special rebate this year showed many beneficiaries appreciated having a rebate in the middle of the year to help with winter power bills.

How will the rebates be paid?

The rebates will be paid via your chosen payment method; either direct into your bank account, credited to your power account, or gifted to the Acorn Foundation Vital Impact Fund

If you have not already made your selection, you have until 17 June 2020 to select your rebate payment option for the July rebate. To do so, go to www.trustpower.co.nz/tect and log into your MyAccount, or call Trustpower on 0800 87 87 87. Read more about the rebate payment options here

 

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