Transforming Our Community Together
In April 2019 TECT announced a special distribution. The distribution offered a unique opportunity to consult on different ways the funds could be utilised to make the greatest impact in our community. Throughout April/May, TECT beneficiaries were asked for their feedback on three options. Thank you to everyone who provided feedback. Feedback closed 4.00pm Monday 20 May.
The feedback shows there is a keen interest on both sides of the spectrum for how TECT makes distributions and there is a generous appetite for TECT to ensure beneficiaries continue to benefit directly and indirectly.
Over 7,000 submissions were received on the three options proposed by trustees, with feedback showing 41% were open to increasing distributions towards community initiatives rather than the normal split between rebates and community grants.
With 59% of consumers demonstrating a preference for option 1, TECT Trustees have confirmed distribution of the special dividend which will see $295 paid to each eligible consumer ($16.8M total) and $4.2M go towards topping up current grant funds.
The table below shows the feedback received.
We were pleased with the considerable feedback received and appreciate you taking the time to have your say.
We were also able to gain some useful insights on a range of misunderstandings many people have around TECT and its purpose as a trust. The trustees are committed to ensuring TECT beneficiaries better understand where the trust’s money comes from, as well as the range of ways the trust may continue to benefit its beneficiaries through distribution of the funds in the Western Bay.
Distributions will be made in late July and will be paid via your preferred payment method. To qualify for the special rebate, you must have had a Trustpower power account in the same name from 1 October 2018 and continuously through until 31 March 2019, within the Tauranga City or Western Bay region.
Got a question? View our Special Rebate FAQs.