Media Release August '22

All Hawke’s Bay power consumers to receive $240 dividend from HBPCT A dividend payment of $240 will be paid to all power consumers in Hawke’s Bay who are connected to Unison Networks Limited (UNL). This compares with the $230 payments made in the past two years. At its annual public meeting on 27 July, the Hawke’s Bay Power Consumers’ Trust (HBPCT) announced they had received a $15.8million dividend payment from UNL. Trust Chair, Diana Kirton, announced the rise in dividend payments following the Trust meeting on Monday 8 August.

“This year the Trustees have raised the dividend payment to $240 with tax credits attached” said Kirton. “Our focus has always been on increasing the dividend return to the consumer shareholders. Unison’s steady performance throughout the pandemic has allowed us to confidently respond to some of the questions raised at our annual public meeting.

Not only are we able to redistribute funding previously allocated to insulation projects, but also use some of the Trust’s reserves to support the dividend increase”. This payment brings the total direct financial benefit consumers have received from Trust ownership since 1999 to around $235 million. The cut-off date for determining who is eligible for a payment is 30 September 2022. All those power consumers in Hawke’s Bay who are connected to Unison’s electricity network on that date will receive one payment per connection, with a maximum of three payments for any one customer.

“Every year there are a handful of customers affected by this date. Some customers commence a new connection a few days after the cut-off and therefore are not eligible to receive a payment. For others it works in their favour,” Kirton said. Further dates to check direct credit registration, or register for the first time, will be widely advertised following this date.

The dividend will be paid to consumers in late November.