2021 distribution of funds
King Country Trust (previously the King Country Electric Power Trust) are pleased to be passing the major share of its 2021 income directly to their Consumer Beneficiaries.
The Trust will be able to distribute a total of $1,433,250 this year – $1,159,250 of which will be distributed directly to Consumer Beneficiaries as a credit on their lines company accounts in August.
Trust Chair, Adie Doyle, says the remaining income will be retained to support local energy saving initiatives.
“We will continue with our ongoing support of Maru Trust along with the Energy Education in Communities (SEEC) Programme, currently being rolled out across our three districts. This initiative alone will have supported 1,500 homes in power saving, which has included replacing all lightbulbs with LED bulbs” he says.
“We have continued our support for local initiatives in areas where funding has immediately benefitted local people, such as the Foodbanks.”
“Distributing directly to our beneficiaries is the default position for Trustees but when opportunities arise such as the Maru Trust, where an investment of $1, benefits our community by $10, due to government subsidisation, then we are keen to be involved. Maru Trust has insulated hundreds of homes in the KCT district; homes that otherwise would not have had this benefit,” says Adie.
The Trust’s income is generated from a 25% shareholding in King Country Energy, along with funds invested in a balanced portfolio.
In past years, KCT has passed a major share of its income to Consumer beneficiaries. However, as a departure from this in 2020, the funds were given to St John Ambulance in Turangi, in lieu of a credit to consumer beneficiaries in the Turangi area.
Consumer beneficiaries (those who are connected to The Lines Company in the Turangi, Ohakune and Taumarunui districts), should check their latest lines company account for their annual credit from KCT.
Trustees look forward to meeting with their Consumer Beneficiaries at their AGM, 4 p.m. Monday 30th August, at Oreti Village Resort, 88 Pukawa Road, Lake Taupo, to hear what the Trust has been doing this year.
If you are coming please RSVP Trust secretary, Tessa Jackson, for catering purposes at firstname.lastname@example.org.
For more information please contact: