Critically important election for our electricity system ends at 5pm on Friday 25 October
This election is critically important, as there are pressing challenges but also greater opportunities for our electricity system now more than ever before. New, proven technologies and new threats are here. Both are currently missed by the incumbent EntrustTrustees - often wilfully. Entrust is a community owned asset run for over 30 years by the same C&R ticket like a private fiefdom with a suppressed election every three years. Despite the claims of the current chair, there is no budget to publicise or educate voters about the election nor has any attempt been made to modernise the election (C&R's own factsheet confirms the only election promotion is a "link" on the Entrust website). The 2024 Entrust AGM is being held the evening before Election Day (7pm on Thursday 24 October) further limiting the ability of voters to be fully informed before voting. In 2021 the AGM lasted just 34 minutes.
At the core of C&R's mismanagement, which has seen a 27.5% decrease in the real value of the dividend in the last 18 years, is a determinedly narrow reading of their roles and responsibilities, they claim they have no power to do anything, however they have a controlling 75% ownership of Vector yet fail entirely to guide it strategically. And admit as much! Claiming to do so would disadvantage minority shareholders. This is nothing but an excuse for inaction.
More for You, Better for Auckland, the independent progressive team challenging C&R for the leadership of Entrust, offers a clear alternative. Over the last 5 weeks we have clearly set out how we will actively work to lower power bills and secure power supply. We will modernise the election and make Entrust accountable. Our policies are evidenced-based and backed by expert research.
Instead of Trustees who see their role only in passing on the dividend (and paying out just before voting starts) we could have dynamic and future- focused leadership. It is possible to deliver the dividend AND a solar future. Vision and ambition matters to set Vector on a strategic path able to absorb the shocks and demands of our age, affordably and efficiently. Entrust with new leadership can aspire to a world- leading, secure distributed network making the best of proven, cost effective, new technology for the benefit of all Aucklanders.