Power to the people with trust cheque

A before-Christmas cheque for $170 is coming to Hawke's Bay electricity account holders in Hastings and Napier, from the Hawke's Bay Power Consumers' Trust, which owns lines company Unison Networks.

Unison's profit was up nearly 14 per cent on 2014, resulting in a shareholder benefit of $10.9 million that included $1.35 million for an ongoing programme putting overhead power lines underground.

This year, power lines in Napier's Kennedy Rd were put underground to improve aesthetic appeal, reliability and safety.

The trust undertook a five-year $9 million "undergrounding" plan last year, subject to Unison making a profit. Dividend cheques were prioritised.

Total group revenue was $210.5 million. Net profit after tax was $27.5 million, up 13.6 per cent on last year's $24.2 million. Line revenue, net of transmission charges, increased $10 million on the previous year.

Trust chairman John Newland said consumers should be pleased because Unison delivered good dividend and network performances.

"The company's commitment to its smart network strategy [fibre communications] has seen the completion of the implementation stage, the benefits of which are already flowing through to consumers by way of enhanced security of supply," he said.

All consumers connected to the Unison network at the end of last month would receive a dividend payment, with cheques mailed out at the end of November.

Last year's cheques were mailed earlier to avoid election mail-outs.