Trustpower chief talks on last day of TECT verbal submissions

Trustpower chief executive Vince Hawksworth was one of about 90 people to give a verbal submission over four days on the proposal to phase out TECT cheques.

Hawksworth addressed a table of TECT trustees at the Historic Village in central Tauranga yesterday afternoon on the last day set aside for submissions.

He said the process the trust was going through was "flawed" and the many hundreds of people he had met and talked with in the community about it were struggling to understand the case for change.

"It's not compelling. Trustpower has always been a really successful business as the industry's changed."

The current TECT trustees wanted to phase out TECT cheques, starting with a one-off $2500 cheque this year plus five more annual cheques of $360 each.

The trustees had proposed putting all the annual returns from its Trustpower shares and other investments into the TECT Charitable Trust that was set up in 2002 to ensure the share of the money paid to community organisations was not taxed.

They say they are trying to future-proof the organisation in a climate of rapid technological and political change.

Hawksworth said change had been happening continually throughout the life of Trustpower and the company was successful.

He said its success would continue into the future as more change occurred.

Hawksworth called for the trustees to stop the current process and not wind up the TECT trust and form the charitable trust, but instead get into "genuine" consultation with consumers over the next year or two.

"And think about what success looks like for the long-term – success that current consumers can buy into and does not bind future trustees to being stuck with the outcome of this group of six trustees."

He said TECT would run for a further 55 years and there was a lot of opportunity for it to do great things, as it had done in the past, while still looking after the interests of the consumers.

Trustpower chief executive Vince Hawksworth addressed a table of TECT trustees at the Historic Village in central Tauranga yesterday afternoon. Photo / George Novak

Hawksworth said he was asked no questions by the trustees after speaking for about five minutes.

He said the current process lacked credibility and people were confused and wanted more information.

Hawksworth said he heard a woman talk passionately just before him about why she supported what the trustees were doing.

"And I respect her right to have her view heard as well."

He said he also heard others talk yesterday about why they were against the proposal.

TECT chairman Bill Holland, who was at the hearings the entire time, said it went very well and was all part of the consultation process.

He said TECT received far more submissions than it had ever thought was likely – more than 21,000 written submissions (with some double-ups).

He said the verbal submissions were a positive part of the process. It was thought about 90 people spoke over the four days.

"We've said from the outset we're listening and we're making that very clear," Holland said.

"We thought that the proposal we submitted was a good one and it was unanimously put forward, but we had a very open mind on it and that's why we're waiting to hear peoples' comments on it."

Holland said there was nothing new in what Hawksworth said yesterday.

"He has a view on things and that's fine."

He said Hawksworth made a very clear submission and so there was no need to ask questions.

"Obviously we've seen a number of communications from him and there were no surprises. So there's nothing negative in our not asking questions, it's just there was nothing to ask."

Holland said some people turned up to the hearings wanting to ask questions, but they were not question and answer sessions.

Question and answer sessions often turned into debates and that was never the idea, he said.