By way of background, AECT is not in competition with anyone. It is a consumer trust that owns 75% of power line company Vector. You too can become a beneficiary of AECT by (a) moving into the right part of Auckland and (b) having your name on the power bill. But AECT doesn’t benefit from you doing this, so where is the competition?

It turns out to be within the AECT, which is preparing a trustee election. This process has already begun, and the voting papers will be out in a couple of weeks. If you are voting, think about this: Would you rather have had $320 and an advertising campaign, or a bigger dividend without a campaign?