Entrust dividend: Why you aren’t getting an extra Vector payment anymore

This year’s Entrust dividend has been sent to hundreds of thousands of Auckland households and businesses – but the total payment is down compared to 2023. Here’s why.

The payment from Entrust, the “majority shareholder of Vector”, is sent to eligible electricity account holders in the Entrust District of central, east and south Auckland.

Last year the Entrust dividend was $334 – but there was also an additional $30 payment from Vector for a total payment of $364.

The extra $30 payment was from a credit Vector receives from Transpower, known as loss rental rebates (LRRs).

LRRs are the surplus created once the costs in the electricity wholesale market have been worked out, according to the Entrust website.

But the Electricity Authority has mandated that Vector must now pass these LRRs on to electricity retailers.

This means there will no longer be an extra payment from Vector in your dividend – so you’re only getting $350 this year.

Upcoming Entrust election

Entrust owns 75.1% of Vector Limited, New Zealand’s largest network infrastructure company.

Entrust is governed by five trustees who are elected every three years by electricity consumers within the district by postal voting using the First Past the Post (FPP) voting method.

The election for the trustees will be held from October 10-25 this year.

Last election, the turnout was only 9.5% of eligible voters, according to Greater Auckland.

Communities and Residents (C&R) have dominated control of the trust for the past 30 years.

C&R was formerly Citizens and Ratepayers and has strong ties with the National Party.

More for you; Better for Auckland is also seeking to be elected this year, aiming to bring down power bills.

The only independent candidate is Andrew Lesa JP, who is a Manurewa Local Board member.

Jaime Lyth is a multimedia journalist for the New Zealand Herald, focusing on crime and breaking news. Lyth began working under the NZ Herald masthead in 2021 as a reporter for the Northern Advocate in Whangārei.