Provided by NZX
  • VCT2.91

    $0.041.37%

  • Open 2.95 High 2.95 Low 2.91 Bid Price 2.91

    Offer Price 2.95 Value 98731.11 Volume 33682

Current as of 02/02/15 03:00PM 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 apcf03 at 02 Feb 2015 15:04:11 Processing Time: 197ms