By CHRIS DANIELS
Wholesale privatisation of lines company Vector is off the agenda for conservative local body group Citizens and Ratepayers.
It is advertising for candidates to stand on its ticket for September elections to the Auckland Energy Consumers Trust, which owns the shares in Vector and distributes dividends to its customers.
C & R president John Collinge said the group was looking for people "who can be custodians of trust assets."
Concern over whether the trust should sell Vector shares has prompted a group of staunch anti-privatisers to contest the election.
C & R-endorsed trust chairman Michael Barnett has said he has no intention of standing for re-election, and trust member Karen Sherry will run as an independent this year.
Mr Collinge said C & R did not think privatisation was the main issue of the election, but Vector was a monopoly and an important strategic asset. "Protection of the consumers is best achieved by keeping control in public hands."
If there was any issue to raise capital and so advance the company, consumers would have to be the first to be offered the opportunity to invest.
Trustees would be required to ensure security of electricity supply, so there was no chance of a repeat of the central-city power crisis.
Putting unsightly powerlines underground would also be a C & R policy for the elections, as would opening up the operations of the trust to more public scrutiny.
Stan Lawson, a trustee and C & R member for more than 20 years, said "unfinished business" meant he would be standing for re-election this year.
On the issue of selling Vector, Mr Lawson said the trust had fought hard to gain control of the asset and he saw no point in privatising it. Any proposals to sell off part of Vector to raise capital would have to be looked at on its merits.
Applications for C & R endorsement close on July 28 and nominations for election close on August 4. Voting papers will be sent to all Vector customers from September 22.
Move to keep Vector in hands of public
AdvertisementAdvertise with NZME.