TECT cheques: Trust moves to wind up within 30 years : compa

TECT cheques: Trust moves to wind up within 30 years
22 Apr, 2021 01:59 AM
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TECT is winding up. Photo / Supplied
Bay of Plenty Times
TECT trustees have agreed to go ahead with a structural change that will see the trust wound up within 30 years - which will also spell the eventual end of TECT cheques.
The decision followed Trustpower's announcement in January that it was undertaking a strategic review of its retail business, including a possible sale.
It also follows a month-long consultation period with its Tauranga Energy Consumer Trust beneficiaries.
People who were customers of Trustpower as of January 28 are expected to continue to receive a rebate from TECT for the next 30 years, provided the funds are there.

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