Entrust (community trust)

Entrust, formerly named Auckland Energy Consumer Trust (AECT) prior to June 2016, ^[1] is a trust for electricity consumers in Auckland, New Zealand. Formed in 1993 as sole owner of the original Mercury Energy Limited, it is now majority owner of electricity and gas distributor Vector Limited, a child of the original Mercury, the other child being the retailing division of Mercury Energy. The Trust will be wound up in 2073 (80 years after its formation) and its assets transferred to the local government authority or authorities in the Trust district ^[2] (at present this would be Auckland Council). There have been calls for the Trust to be wound up sooner. ^{[3] [4]}

AECT owned 75.1% of the shares in Vector in 2015, worth about $2 billion. ^[5] It holds the shares on behalf of Vector's 300,000 customers and distributes dividends from Vector to its customers. The remaining 24.9% of Vector shares are traded on the NZX Main Board stock exchange.

As part of electricity industry reforms in 1993, the consumer-owned Auckland Electric Power Board became Mercury Energy Limited and AECT was set up to own it, keeping control in the hands of electricity consumers. Similar trusts were established elsewhere in the country. Mercury was the electricity distributor and retailer for Auckland, Manukau and Papakura. In 1998 the government split the electricity sector into distributors (lines companies) and retailers, and accordingly Mercury was split. The retail business was sold to Mighty River Power and the lines business being kept and renamed Vector Limited. AECT was the sole owner of Vector until 2005, when it allowed Vector to make a public float of 24.9% of its shares to raise capital to buy gas company NGC Holdings. ^{[6] [7]}

Election of trustees

Campaign posters in the 2009 election

Powerlynk

C&R

The trust is run by five trustees elected using the plurality-at-large method every three years in line with the requirements of the Trust Deed. Trustees are electricity customers who live in the Trust area.^{[ citation needed ]}

The right-leaning C & R – Communities and Residents ticket has dominated election results for the five trust seats in recent years, and under its previous names Citizens & Ratepayers NOW and Citizens & Ratepayers in earlier years. The ticket has long been aligned with the National Party. ^{[8] [9]}

In 1997 the first and last Independent Trustee, Victoria Carter was elected to the Board. In 1998, the lights went out for six weeks in Auckland. The Government called for an enquiry. ^[10]

2003 election

2003 trustee election results ^[11] for the five seats on the trust:

	Affiliation	Name	Votes
	Citizens & Ratepayers NOW	John Collinge	26,049
	Citizens & Ratepayers NOW	Michael Buczkowski	24,567
	Citizens & Ratepayers NOW	Karen Sherry	22,830
	Citizens & Ratepayers NOW	Warren Kyd	21,962
	Powerlynk	Shale Chambers	20,822

2006 election

2006 trustee election results ^[12] for the five seats on the trust:

	Affiliation	Name	Votes
	Citizens & Ratepayers NOW	Karen Sherry	22,357
	Citizens & Ratepayers NOW	Michael Buczkowski	20,129
	Citizens & Ratepayers NOW	Warren Kyd	19,742
	Powerlynk	Shale Chambers	18,563
	Citizens & Ratepayers NOW	James Carmichael	16,829

2009 election

2009 trustee election results ^[13] for the five seats on the trust:

	Affiliation	Name	Votes
	Citizens & Ratepayers	Karen Sherry	22,752
	Citizens & Ratepayers	Warren Kyd	22,129
	Citizens & Ratepayers	Michael Buczkowski	21,665
	Citizens & Ratepayers	James Carmichael	21,140
	Citizens & Ratepayers	William Cairns	16,793

2012 election

2012 trustee election results ^[14] for the five seats on the trust:

	Affiliation	Name	Votes
	C & R – Communities and Residents	Karen Sherry	27,483
	C & R – Communities and Residents	Michael Buczkowski	24,217
	C & R – Communities and Residents	Warren Kyd	23,388
	C & R – Communities and Residents	James Carmichael	23,355
	C & R – Communities and Residents	William Cairns	21,665

2015 election

2015 trustee election results ^[15] for the five seats on the trust:

	Affiliation	Name	Votes
	C & R – Communities and Residents	Karen Sherry	20,968
	C & R – Communities and Residents	Michael Buczkowski	19,761
	C & R – Communities and Residents	James Carmichael	19,390
	C & R – Communities and Residents	William Cairns	17,824
	C & R – Communities and Residents	Paul Hutchison	16,942

2018 election

2018 trustee election results ^[16] for the five seats on the trust:

	Affiliation	Name	Votes
	C & R – Communities and Residents	Karen Sherry	23,958
	C & R – Communities and Residents	Alastair Bell	21,198
	C & R – Communities and Residents	Michael Buczkowski	19,645
	C & R – Communities and Residents	Paul Hutchison	19,533
	C & R – Communities and Residents	William Cairns	18,730

2021 election

2021 trustee election results ^[17] for the five seats on the trust:

	Affiliation	Name	Votes
	C & R – Communities and Residents	Alastair Bell	16,403
	C & R – Communities and Residents	Michael Buczkowski	15,533
	C & R – Communities and Residents	Denise Lee	15,274
	C & R – Communities and Residents	Paul Hutchison	13,417
	C & R – Communities and Residents	William Cairns	11,892

See also

• New Zealand electricity market

References

1. "Media releases". Entrust. Retrieved 19 June 2016.
2. "Who qualifies". Auckland Energy Consumer Trust. Retrieved 24 October 2015.
3. O'Sullivan, Fran (24 December 2006). "Switch off energy trust". The New Zealand Herald. Retrieved 24 October 2015.
4. Slade, Maria (11 December 2014). "Campaign to scrap Auckland power dividend cheque gains momentum". Stuff. Retrieved 24 October 2015.
5. "About Vector". Auckland Energy Consumer Trust. Retrieved 24 October 2015.
6. "AECT history". Auckland Energy Consumer Trust. Retrieved 13 June 2009.
7. "History". Vector Limited. Archived from the original on 30 May 2009. Retrieved 13 June 2009.
8. "Is National's survey an Auckland Council election play?". Stuff.co.nz . 20 June 2019. Retrieved 23 August 2019.
9. "Party affiliation boosts Auckland local election success – research". Stuff.co.nz . 15 August 2019. Retrieved 23 August 2019.
10. "The night the lights went out in Auckland". RNZ. 22 March 2018. Retrieved 28 September 2024.
11. "Declaration of result of election" (PDF). Auckland Energy Consumer Trust. 3 November 2003. Retrieved 19 June 2016.
12. "Declaration of result of election" (PDF). Auckland Energy Consumer Trust. 30 October 2006. Archived from the original (PDF) on 7 April 2017. Retrieved 24 August 2019.
13. "Declaration of result of election" (PDF). Auckland Energy Consumer Trust. 2 November 2009. Archived from the original (PDF) on 7 April 2017. Retrieved 24 August 2019.
14. "Declaration of result of election" (PDF). Auckland Energy Consumer Trust. 29 October 2012. Archived from the original (PDF) on 7 April 2017. Retrieved 24 August 2019.
15. "Declaration of result of election" (PDF). Auckland Energy Consumer Trust. 4 November 2015. Archived from the original (PDF) on 7 April 2017. Retrieved 24 August 2019.
16. "Declaration of result of election" (PDF). Entrust. 31 October 2018. Archived from the original (PDF) on 21 January 2019. Retrieved 24 August 2019.
17. "Declaration of result of election" (PDF). Entrust. 31 October 2021. Archived from the original (PDF) on 2 November 2021. Retrieved 3 November 2021.

External links

• Entrust Website