Changes to the Waitaki Power Trust deed over how it reviews ownership of its company, Network Waitaki, were unanimously approved by all four trustees at a meeting on Wednesday.
The trust had called for public submissions on the change, which it heard and considered before the meeting. All six submissions, including one from the Waitaki Ratepayers' Association, supported the change.
The trust holds all 14 million shares in the power lines company on behalf of 12,157 consumers under a trust deed, which requires it to review that ownership every five years, look at the options, make a recommendation then consult the public before a final decision.
That process can cost the company $25,000 to $30,000.
The trust has now changed that process by amending its trust deed.
The change means the trust will ask consumers every five years if they want a review, rather than automatically carrying one out. If that is declined, a compulsory review would be carried out after 10 years.
It was decided to extend the review period after the last review in 2011 when 1400 submissions, the vast majority with more than one signature, overwhelmingly supported consumers retaining ownership of the company through the trust.
Only six proposed any changes.
