TECT Wind Up a Risk but There Is a Silver Lining
The Tauranga Electricity Consumers Trust, or TECT, is considering winding up and transferring its assets to a charitable trust. TECT owns 26% of Trustpower, stemming from its former public ownership, and provides partial rebates to Trustpower customers in the Tauranga area. This allows Trustpower to charge more than competitors while maintaining very high market share. TECT is proposing stopping rebates in 2022 and diverting income to local charities instead. This would remove the incentive for ...
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