Power customers to get $135 dividend payout

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Hawke's Bay power consumers are about to receive some extra spending cash heading into Christmas thanks to a record $135 tax-paid dividend from the Hawke's Bay Power Consumer's Trust.

The dividend is the share of the profits returned by lines company Unison Networks. Cheques were expected to be posted out to power consumers this week.

Trust chairman John Newland said the record dividend reflected Unison's solid performance.

"Trustees are delighted that we are again in a position to pass on the dividend to our local consumers. We also know for sure, that the continuing upgrade and development of infrastructure is not being compromised, in order to achieve this level of dividend."

Unison also owned the distribution networks in Taupo and Rotorua but the consumers who lived in these regions do not share in the dividend distribution.

All profits earned from the distribution regions contributed to the dividend paid to Hawke's Bay consumers, Mr Newland said.

The trust retained a part of the dividend for initiatives which would help support consumers in keeping their homes warm and safe. It included contributing $375,000 towards home insulation subsidies during the year.

The trust had also invested another $1.5 million towards underground electricity cabling in the region.

Earlier in the year the trust undertook an ownership review with local consumers, which showed overwhelming support for Unison to remain in trust ownership.

- HAWKES BAY TODAY

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