KEY POINTS:
Auckland householders are being urged to rush to their letterboxes to collect cheques for $320 from an electricity dividend totalling almost $100 million.
More than 302,000 electricity consumers throughout Auckland and Manukau cities, and the northern part of Papakura, are eligible for shares of a tax-free payout of $96.67 million from the Auckland Energy Consumer Trust.
The money is derived from the public's remaining 75.1 per cent shareholding in lines company Vector and is an increase on $310 paid out this time last year.
Trust chairman Warren Kyd said Auckland retailers could expect a busy weekend once beneficiaries of the trust received their payments, most of which should already have been direct-credited to bank accounts or delivered by mail.
Last year's payout sparked a race in some neighbourhoods between householders and thieves, several of whom were arrested after more than $46,000 of cheques were stolen from letterboxes.
That led to an invitation by the trust for consumers to provide bank account details this year.
More than 100,000 consumers asked for payments to be direct-credited to their banks and 30,000 will have their money held in credit against future power bills.
Trust deputy chairman Michael Buczkowski confessed last night that he was of the older school, preferring to enjoy the sensation of a cheque in the hand.
"I've got mine - I rushed out to the letterbox. I like to see that cheque in my hand," he said.
But he urged others of a similar persuasion to clear their letterboxes and bank their cheques as soon as possible.
Mr Buczkowski opposed fellow Citizens and Ratepayers trust members Mr Kyd and Karen Sherry in trying unsuccessfully to prevent the sale of 24.9 per cent of Vector in 2005.
He said the latest payout should serve to remind electricity consumers of the benefits of continuing public ownership of the remaining 75.1 per cent.
Those yet to receive their cheques should not panic as the payments coincide with the mailout yesterday of ballot papers for the local body elections, and some may take longer than usual to be delivered.
An energy trust spokeswoman said the cheques were given to New Zealand Post on Thursday, and she understood it had called in extra staff to handle the workload.
Direct payments were timed to go through the banking system at midnight on Thursday.
