Where is our ECT return?

LETTER

Just a thought for all to ponder, more so those standing for the local council and the trustees of Eastland Community Trust.

It has been a few decades since we, the beneficiaries, handed our shares in the Poverty Bay Electric Power Board over to the Eastland Energy Community Trust with the exciting prospect that we would derive some sort of return from this.

I know I’m going to be told all the great things ECT has invested in which are supposedly of benefit to me but I, like dare I say it the vast majority of beneficiaries, have received little or no benefit at all.

ECT could promote the health, economic and social wellbeing of the beneficiaries by giving a grant of at least $1000 to every household in the East Coast area.

There are, give or take a couple, around 19,000 households in the area; $1000 per household would be $19 million, a drop in the ocean in terms of the current and proposed expenditure of the trust ($80m on a new log berth, $7.5m on a new airport terminal and $147m on a geothermal plant, plus anything else in the pipeline).

All these monies belong to us, the ECT beneficiaries. Where is our return? Higher power charges, no rates relief?

Isn’t it time ECT looked after its ultimate owners, the beneficiaries? Maybe there could be an annual return to the beneficiaries, as other power trusts do. Just a thought.

Dein Ferris

Just a thought for all to ponder, more so those standing for the local council and the trustees of Eastland Community Trust.

It has been a few decades since we, the beneficiaries, handed our shares in the Poverty Bay Electric Power Board over to the Eastland Energy Community Trust with the exciting prospect that we would derive some sort of return from this.

I know I’m going to be told all the great things ECT has invested in which are supposedly of benefit to me but I, like dare I say it the vast majority of beneficiaries, have received little or no benefit at all.

ECT could promote the health, economic and social wellbeing of the beneficiaries by giving a grant of at least $1000 to every household in the East Coast area.

There are, give or take a couple, around 19,000 households in the area; $1000 per household would be $19 million, a drop in the ocean in terms of the current and proposed expenditure of the trust ($80m on a new log berth, $7.5m on a new airport terminal and $147m on a geothermal plant, plus anything else in the pipeline).

All these monies belong to us, the ECT beneficiaries. Where is our return? Higher power charges, no rates relief?

Isn’t it time ECT looked after its ultimate owners, the beneficiaries? Maybe there could be an annual return to the beneficiaries, as other power trusts do. Just a thought.

Dein Ferris

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