Provided by NZX
  • VCT3.19

    $0.010.31%

  • Open 3.2 High 3.2 Low 3.19 Bid Price 3.18

    Offer Price 3.2 Value 233459.93 Volume 73130

Current as of 04/05/15 07:00PM 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, NZME. Publishing Limited

Assembled by: (static) on production apcf02 at 04 May 2015 19:13:28 Processing Time: 395ms