The Auckland Energy Consumer Trust paid out $320 on 18 September to electricity consumers (income beneficiaries of the trust) in Auckland City (including Waiheke Island), Manukau City and the northern parts of Papakura.
AECT are currently undertaking a campaign promoting how great it is to get the dividend and asking people to share their stories as to how they intend to spend the money. It is nice to think of the dividend as a windfall that can be put to a special purchase.
But of course there is no such thing as $320 of “free” money as it partly came from the profits Vector makes from charging the very people who receive the dividend – Vector’s customers who pay electricity line charges. It is fair to ask: if this money is being returned to us, are we not currently being overcharged for electricity? Many households will have paid their highest energy bills ever over a cold winter – the dividend could be used to benefit the community through lower power bills when it really matters.
As a trustee I will also be asking whether the large dividend Vector has paid the Trust means Vector is spending enough to give customers what they really want – a safe, reliable and economical service. All very well for households to have an extra $320 this month but not if this has to be spent on candles and torches when the lights go out!
Tell me your stories – is the power really in your hands?
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