A rumour North Otago electricity consumers are to lose their annual multimillion-dollar payout from Network Waitaki has been denied by the consumer trust which owns all the shares in the electricity lines company.
The Waitaki Power Trust is calling for public submissions on the ownership of the 14 million shares in Network Waitaki after recommending they remain with the trust.
However, the review has prompted conjecture the shares are to be transferred to a community trust, ending the annual discount off electricity bills paid to 12,157 consumers in the area from Shag Point to the Waitaki River and inland to the Hakataramea Valley and Ohau.
Power trust chairwoman Helen Brookes yesterday rejected that and said the power trust was still conducting the five-yearly review of share ownership it was required to do under its trust deed.
The first step was for Network Waitaki's board of directors to prepare a review and make a recommendation to the trustees. The board looked at six ownership options, ranging from the present trust ownership to selling the shares, recommending the share ownership remain with the trust on behalf of consumers.
That would ensure the discount continued.
The trust approved that recommendation, and the next step, at present being undertaken, was to call for public submissions, which close on June 10.
Already there had been considerable interest, with submissions significantly higher than the 13 received in the last review five years ago, she said.
The trust would meet on June 13 to set a date to hear verbal submissions.
Taking into account submissions and after discussions with the board of directors, the final decision on the share ownership would be made by the trust at a public meeting on June 30 before the trust's annual meeting, Dr Brookes said.
"It is important for consumers to know that no decision has yet been made - only a recommendation the shares remain with the trust. If they [consumers] have a view, they should make a submission," she said.
Since 1990, Network Waitaki has paid out more than $10 million in discounts to consumers.
This year, it distributed $2.67 million, ranging from $179.48 for 10,338 customers, mostly residential, to $2594.26 for two large customers.
Submission forms are available from district libraries and Network Waitaki's office in Chelmer St, Oamaru. Details of the review, along with a submission form, are also on the Network Waitaki website.
