RDC backs energy plan
King Country Energy' s plans to hand ownership to a consumer trust was endorsed by the Ruapehu District Council last week. The council discussed the option of local authority ownership, deciding that the preferred option was what the KCE board had suggested, but that if that were rejected for any reason they would like to consider ownership by the councils. Midwestern Powerco's scheme to set up a community trust as well as to sell shares to consumers was generally not favoured by councillors. Mayor Garrick Workman said he thought it was
"blatantly unfair" in that only those who could afford them would be able to buy them, and that those people would be getting a bargain. The council heard that Powerco was looking at
the shares scheme to raise capital so that it would be more financially viable and competitive. KCE's strength was its ownership of substantial generating capacity.
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Ruapehu Bulletin, Volume 10, Issue 454, 22 September 1992, Page 10
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153RDC backs energy plan Ruapehu Bulletin, Volume 10, Issue 454, 22 September 1992, Page 10
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