Around 150 shareholders and beneficiaries of King Country Electric Power Trust turned out to hear Chairman Rob Carter explain plans to do a deal with Trustpower in Turangi.
He told the crowd - "I've got to frank about this, I don't think any of our trustees are particularly enjoying this situation we find ourselves in."
As part of the 5 yearly ownership review the trust is considering a restructure - which would see it giving up shares in the region's most profitable power station - but taking full ownership of King Country Energy and five smaller stations.
But - that's just one of five options on the table.
Last year the Trust's 20 percent share in King Country Energy returned 1.3 million dollars to local organisations.