NZIER Report On The AECT
In 2006 the New Zealand Institute of Economic Research compared Trust ownership of Vector with four alternatives (local council ownership, management by a professional trust company, handing shares over to beneficiaries, local councils and the Auckland Regional Council, and transfer of shares to a new regional infrastructure body). On every measure, including efficiency and what was best for energy consumers in the Trust area, the NZIER concluded that the current setup is the best option.
Vector's customers hold 75.1% of its shares through the Auckland Energy Consumer Trust, and 24.9% of its shares are traded on the NZX. An annual dividend of $150–320 is paid to each customer in the Auckland Energy Consumer Trust area. The Trust's close relationship with the Vector board of directors has been under scrutiny by the media and the New Zealand Commerce Commission during the mid 2000s, and some have called for the trust to be disbanded, with Vector shares instead to be handed over directly to the beneficiaries of the trust. The proposal however gained no general support.
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