Six submissions give unanimous support to changes proposed by the Waitaki Power Trust as to how it reviews ownership of the North Otago power lines company Network Waitaki.
The trust holds all 14 million shares in Network Waitaki on behalf of 12,157 consumers under a trust deed, which requires it to review that ownership every five years, look at the options, make a recommendation then consult the public before a final decision.
However, the trust wants to change that process by amending its trust deed, calling for public submissions on the proposal. The deadline for submissions was yesterday.
At present, the trust has to follow a time-consuming and costly process every five years reviewing its ownership. The change would mean the trust would ask consumers every five years if they wanted a review, rather than automatically carrying one out. If that was declined, a compulsory review would be carried out after 10 years.
The trust has received six submissions, five from individuals and one from the Waitaki Ratepayers' Association. All supported the change.
Two of the submitters wanted to be heard. A hearing will be held on July 12 at 2.30pm, followed by a public meeting during which the trust will make a decision on whether to amend the deed.
After that, the annual meeting of the trust will be held from 3pm. In the last review, in 2011, there were 1400 submissions, the vast majority with more than one signature. Only six proposed any changes. The rest were overwhelmingly in support of the trust retaining ownership.
That support was one reason why the trust was proposing a 10-year review period, unless consumers wanted a review after five years.
Carrying out the review was also estimated to cost $25,000 to $30,000 each time.
Trust ownership results in profits being paid back through discounts - a total of about $28 million since 2000 - to consumers in Network Waitaki's distribution area which runs from the Waitaki River to Shag Point, up the Waitaki Valley as far as Ohau and the Hakataramea Valley.
