Creating a new energy future – a bold vision
Entrust, majority shareholder of Vector
Consumer trust Entrust was formed more than 25 years ago to ensure that stewardship over Auckland’s electricity network remains in the hands of Aucklanders. Entrust acts in the interests of its 340,500 families and businesses in Auckland, Manukau, northern Papakura and eastern Franklin. Entrust protects the $3 billion investment in Vector through its role in the appointment of directors to Vector’s Board.
WILLIAM CAIRNS (CHAIR)
MICHAEL BUCZKOWSKI (DEPUTY CHAIR)
ALASTAIR BELL
PAUL HUTCHISON
KAREN SHERRY
IN SEPTEMBER 2020, EACH OF ENTRUST’S 340,500 BENEFICIARIES RECEIVED A $280 DIVIDEND – THAT’S MORE THAN $95 MILLION GOING STRAIGHT INTO THE AUCKLAND ECONOMY.
Here for the community Entrust is proud of the work it has undertaken for its beneficiaries and all Aucklanders. Passing on a share of Vector’s profits to beneficiaries Vector’s growth and operating performance enables Entrust to distribute an annual dividend to beneficiaries through its 75.1% stake in Vector. Advocacy on behalf of energy consumers Entrust regularly advocates on behalf of energy consumers on important matters such as the Climate Change Commission’s advice on initiatives to reduce greenhouse gas emissions, and other regulatory matters.
Enabling projects with direct benefit
Entrust has an agreement with Vector that requires an average of $10.5 million to be invested in projects in the Entrust District every year. In the year to 30 June 2021, key undergrounding projects have been undertaken in Mt Albert, Powell Street & Himikera Ave (Avondale), Ngahue Drive (Stonefields), Bella Vista Road (Herne Bay), Laings Road & Bucklands Beach Road (Bucklands Beach), and Pacific Parade (Surfdale).
MORE THAN 233 UNDERGROUNDING PROJECTS HAVE BEEN COMPLETED SINCE THE PROGRAMME BEGAN, IN AUCKLAND, MANUKAU AND NORTHERN PAPAKURA.
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