There are two types of AECT beneficiaries: income beneficiaries and capital beneficiaries.
1. AECT income beneficiaries
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People and organisations that receive an AECT dividend are called income beneficiaries, because they benefit from the AECT’s Vector shareholding by receiving a dividend (that’s the income).
AECT income beneficiaries are made up of Vector Electricity customers in the Trust District which is Auckland, Manukau and the northern parts of Papakura (the old AEPB area). The AECT has more than 308,000 income beneficiaries, making it the largest consumer trust in New Zealand.
Check this map to see if your home or business is inside the Trust area.
2. AECT capital beneficiaries
AECT capital beneficiaries don’t receive a dividend, but will become the owners of the AECT’s assets when the AECT is wound up in 2073 (this was part of the Trust Deed that established the AECT). The capital beneficiaries will be the city council or councils that cover the AECT area when it is wound up.