Trustees of the Central Hawke’s Bay Consumer Power Trust have determined that ownership of shares in local lines company, Centralines Limited, will be retained by the trust for the benefit of the region’s electricity consumers.
This decision follows public consultation at the start of 2024, which resolved to maintain the ownership structure of Centralines Limited – being wholly owned by the trust.
The trust has owned 100 per cent of the company’s shares since its inception in 1993, following public consultation in 1992.
The trust deed requires the ownership of Centralines to be reviewed and presented to consumers every five years. This review assesses the performance over the previous five years and recommends how the shares should continue to be held.
Trust chairman, Alistair Setter said: “We thank the consumers who responded to the public consultation. It was pleasing to see such strong support to maintain the status quo from both consumers and the company itself – the directors of Centralines.”
