Information on Entrust

Entrust (formerly called the Auckland Energy Consumer Trust), is a private trust that owns the majority of Vector on behalf of its beneficiaries. Entrust owns 75.1% of shares in Vector which are held in trust for energy consumer beneficiaries in central, east, and south Auckland. These beneficiaries are paid a dividend each year, usually in late September. The Entrust dividend is New Zealand’s largest dividend pay-out, with over $2.5 billion paid out to Aucklanders since 1993.

We will be getting ready for the dividend soon, but first we are getting in touch by post or email with everyone who is currently on the dividend roll so you can tell us how you want to receive your dividend when it is paid later in the year. 

The Entrust District includes central, east, and south Auckland. 

Entrust is a private trust that was formed out of the old Auckland Electric Power Board (AEPB) in the electricity reforms of the 1990s. Other Aucklanders are in areas that were served by other power boards (see below). Each power board had the choice of what to do with the shares in their company.

On the North Shore and West Auckland for example, people were given shares in the company. People could keep or sell those shares.

In the old AEPB district, people were not given shares. Instead, a private trust, now known as Entrust, was set up to hold the shares on behalf of the customers so they could get a dividend every year.

Other old power board districts were:

•  The Waitemata Electric Power Board (North Shore, West Auckland, Orewa, Whangaparoa). Now part of Vector. People were given shares in the power board which they could sell.
• The Franklin Electric Power Board (in southern Papakura, Counties and Franklin Districts) Now called Counties Power. Owned by Counties Power Trust which pays out discounts to consumers’ power discounts.
• North Auckland Power Board (includes Kaipara area). Now called Northpower. Owned by Northpower Electric Power Trust which pays out credits to consumers' power accounts. 

Until 2016 you may have known us as the AECT, or simply the organisation which sends you a dividend every year. You may have thought we were part of the council or government. The fact is we are a private trust that owns the majority of Vector on behalf of our beneficiaries. So to help clarify who we are and what we do, we changed our name. It's not a major change, just a simple combination of energy and trust. Entrust. 

The advertising is necessary to alert people that Entrust information is in their letterbox or email inbox.

The information, especially the update forms, are important and valuable, so it is important that people know to look out for them.

It is also a practical time to build awareness about Entrust. Before advertising started some years ago, fewer than 4% of beneficiaries knew about us and that we pay them a dividend. We now have more than 60% awareness.

The advertising is done to a strict budget, to reach as many beneficiaries as possible at the lowest possible cost. The design of the ads is intended to generate as much attention as possible. They are researched every year to ensure they are being effective. 

It is a free card for friends of the trust that gives discounts at well known local outlets:

• Armstrong Smarter Security
• Carters
• Habit Health
• Hertz
• Ideal Electrical
• Millennium & Copthorne Hotels
• Office Max
• Pita Pit
• Pit Stop
• Repco
• The Coffee Club

Print a copy of the card here.