Power consumers connected to line company Northpower can expect a cheque for $550 in the mail during September, from the Whangarei-based Northpower Electric Power Trust.
Payments are being made to all consumers on the Northpower line network as at June 30 this year, regardless of which energy retail company is billing consumers for their power.
The payout results from the distribution of $21.5 million in proceeds from the sale of Northpower's retail energy business, required under the previous Government's Electricity Industry Reform Act.
Northpower itself continues to be owned by the local electric power trust on behalf of consumers.
Trust chairman Erc Angelo said there had been many opinions within the community about what should happen to money from the sale. Although the trust would not be able to please everyone, it had to make what it thought was the best overall decision.
"We can't underestimate the positive benefit that an injection of more than $21 million will have on the local economy," he said.
The $550 payment is tax free and will not affect any future dividends consumers might get as a result of profits made by Northpower.
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