Provided by NZX
  • VCT2.99

    $0.010.33%

  • Open 3 High 3 Low 2.98 Bid Price 2.98

    Offer Price 2.99 Value 560398.84 Volume 187053

Current as of 05/03/15 07:40PM NZST

David Fisher

David Fisher is a senior reporter for the NZ Herald.

Power ballot opens today

One of the lowest-polling ballots in New Zealand politics opens today - although voters have already had cash in hand from some of those wanting to get elected.

Voting papers for the community-owned Auckland Electricity Consumers Trust, which owns 75 per cent of electricity lines company Vector, will be sent out today. Just 16 per cent of voters cast a ballot in 2009.

The incumbents are promising continued management which saw a $320 payment posted out to consumers just a few weeks ago. The Citizen & Ratepayers team, which has all five positions on the trust, picks up $343,000 for its stewardship. Two trustees pick up a further $95,000 each for sitting on the Vector board.

It is facing a challenge from Your Power Team, which is promising to slash trustee payments and introduce greater openness. It accuses the trustees of being "arrogant, unaccountable and careless" with shareholder money.

- NZ Herald

© Copyright 2015, APN New Zealand Limited

Assembled by: (static) on production bpcf01 at 05 Mar 2015 23:53:09 Processing Time: 356ms