Nigel Tutt Chief Executive of Priority One

Last week's announcement of the proposed changes to the Tauranga Electricity Consumer Trust is important from a regional, economic perspective.

Readers will probably be aware that Trustpower recently announced a review of their retail business, with the view to a possible sale. The prospect of this sale means that TECT needs to consider the structure of the trust in future.

TECT exists for the benefit of consumers of Trustpower living in Tauranga or the Western Bay, and a sale means that those consumers no longer exist. This frustrates the intent of the trust, so action to change the trust is required. The trust needs to benefit future generations, so winding up and distributing the proceeds isn't an option.

The direction that TECT trustees have taken in the proposal is an entirely sensible one in my view. Essentially, the trust will be split into two parts; one to provide the rebate ‘cheque' to existing Trustpower customers in years to come, and the other to support wider community services and projects.

The structure is a similar set-up to the current one, but the sinking lid nature of the Trustpower customer base means that community investments will be able to be strengthened in future. The proposal balances the needs of all parties well.

The prospect of additional support for community projects is heartening. A fast-growing city like Tauranga needs strong investment in all forms of infrastructure, so that we can continue to be a great place to live.

I have no doubt that the council changes that we have seen during the last few months will be positive, and unlock much-needed investment for the city. I would also expect 'hard' infrastructure that supports transport, water and housing to become the highest priorities.

TECT plays a valuable role by supporting community-based projects, often with a social or environmental benefit that might not attract funding from other sources.

The prospect of increased investment in these areas is much needed, and will go a long way to strengthening the quality of living for people in our city. That is a real positive for businesses and the community in general.