Network Tasman Trust pays out $3.3m

December financial pressures will be made a little easier for more than 40,000 electricity users with the latest Network Tasman Trust pay-out.

Nelson Tasman Trust has paid out $3.32million to 41,500 eligible customers connected to the Network Tasman Limited (NTL) electricity distribution network.

About 41,500 customers will receive $80, which will be paid directly to them in the form of a credit on their next power bill.

Eligible customers should receive this credit prior to Christmas, although the exact timing will depend on the various energy retailers’ billing cycles.

Eligible customers receive the credit regardless of who their retail power supplier is.

“Some customers think if they switch retailer they will no longer get a distribution credit, but this is not the case as the distribution comes from Network Tasman Trust, not the retailer,” says Network Tasman Trust chairperson Gwenny Davis.

The $3.32 million represents the surplus accumulated in the trust’s funds, from NTL dividends received prior to 31 March 2021, along with interest received on investments.

“Over the years, the trust has paid over $66.3 million back into community hands,” says Gwenny.

“As well, we’ve allocated up to $200,000 each year in grants and scholarships, through Network Tasman Charitable Trust, to individuals and groups in our local community.”

This is the second year the trust has paid this money to customers as a credit on their power bills after previously posting out cheques to customers.

Gwenny wanted to remind anyone who finds an old cheque to come and talk to the trust if it’s less than five years old.