An annual dividend for power consumers connected to the Unison network in Napier and Hastings will increase $5 this year.
As a result, the 2026 dividend from the Hawke’s Bay Power Consumers Trust (HBPCT) will be $275.
Stemming from the retention of assets for the region amid major changes in the electricity supply industry in the 1990s, it is the third annual increase in a row, and compares with $230 five years ago, in 2021.
The trust, established in 1993, says it continues the commitment to return the benefits of consumer ownership directly to local households.
The dividend payment is exclusive of imputation credits and limited to a maximum of three payments per consumer.
Trustees welcomed the $18.3 million dividend paid to HBPCT by Unison, which was confirmed at the trust’s public annual meeting on July 30.
Trust chair Kirsten Westwood said: “After reviewing the trust’s financial position, we are pleased to increase the dividend from $270 last year to $275 this year.”
“We recognise that many households are facing cost-of-living pressures, and we hope this payment provides meaningful support to families across Hawke’s Bay.
“This is a tangible return from local ownership of Unison, ensuring that the benefits of the region’s electricity network are shared directly with consumers.”
The dividend brings the total direct financial benefit returned to consumers since 1999 to more than $303 million.
A public vote is taken every five years to determine the future of the trust, and was last held in 2023.