Role of the Trustees
Entrust is made up of elected trustees. All of them are electricity customers who live inside the Entrust area. Trustee elections happen every three years, and every Entrust beneficiary can vote in them, or run for election themself.
The Trustees, acting on behalf of the beneficiaries, and in accordance with the Trust Deed, are responsible for ensuring that Entrust operates according to its key roles and all its regulatory and legal requirements.
In practice, the Trustees:
- Set and distribute the dividend to Entrust’s beneficiaries
- Propose and with other shareholders, appoint Vector's board of directors. There are currently seven members on the board, with an option to increase that number to nine
- Approve all major transactions undertaken by Vector
- Manage Entrust’s funds
- Communicate with beneficiaries and the general public on Entrust’s activities
- Monitor and address regulatory issues affecting Vector, Entrust and our beneficiaries
- Get involved in energy matters in the interests of Vector, our consumers and beneficiaries
- Take a proactive role in ensuring security of supply for our customers
- Monitor prices of Vector Electricity services in the Entrust district and ensure these do not exceed the agreed pricing policy