Centralines Commits $100K Of Power Consumers' Money To Ruataniwha Dam V.2
The Centralines Board has committed $100,000.00 to the Ruataniwha dam v.2. This breaking news was announced by Wise Water Use HB's Paul Bailey at a public wānanga to discuss Ruataniwha v.2 held in Waipawa this evening.
Second-term trustee, Tony Murphy, has also resigned in protest about this decision. Murphy, one of seven trustees, told Wise Water Use that he does not believe this decision is in the best interests of CHB power consumers and beneficiaries, and that he can't in good conscience remain as part of a trust which has chosen to support the Board in its decision.
Wise Water Use is also questioning the public undertaking made by Mike Petersen, spokesperson for the Ruataniwha dam v.2, that the dam prompters would not be seeking public investment into the controversial project (more below).
'Wise Water Use HB fully support's Mr Murphy's decision to resign,' said spokesperson Dr Trevor Le Lievre, adding: 'It's infuriating that this Board continues to treat money which should be returned to CHB power consumers like a personal slush fund, to be used for their pet project, Ruataniwha v.2'.
'To add insult to industry the Trust, who appoints the Board, has opted to endorse this decision and to ignore their fiduciary duty to protect the assets of their beneficiaries, the power consumers of Central Hawkes Bay'' said Le Lievre.
The Centralines Board has declared publicly that there will not be an annual discount offered to CHB power consumers for the 2025-2026 period, and has not given any undertaking as to when discounts might be resumed.
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'This $100,000.00 largesse by the Board, at the expense of annual discounts to CHB Power consumers, comes on top of $200,000.00 gifted to the dam promoters in 2021. Then, as with now, there was no public announcement, likely in the hope that handing money to the controversial Ruataniwha dam project would fly under the radar.' said Le Lievre.
Wise Water Use in a flyer distributed at their wānanga is calling on their supporters to contact Central Hawkes Bay Consumers' Power Trust chair, Karen Middelberg, and to ask her to move a motion at the next trustee meeting, to be held in late-May, to direct the Board to rescind their decision, noting that the Trust has the power to remove the Board if they refuse. If Ms Middelberg is not prepared to act on the concerns of trust beneficiaries, then she should resign.
Wise Water use is also questioning whether public statements by Mike Petersen can be relied upon. Petersen in October 2024 stated on Central FM Radio that Ruataniwha v.2 was a commercial project, and that the dam promoters would not be seeking public investment.
Mr Petersen is currently canvassing for capital to fund a revamped business case for Ruataniwha v.2. Money raised will be matched dollar for dollar, up to a cap of $3 million from the Regional Infrastructure Fund, as announced by the Honourable Shane Jones (Minister Regional Development) in December last year.
'Mr Petersen's undertaking once again rings hollow, said Le Lievre, who also asked: 'what other public money has Mr Petersen been touting for?
'Wise Water Use calls on Mr Petersen to come clean and announce exactly what other public sources of money he is seeking.
'Unfortunately, this squandering of CHB power consumers' money is in keeping with the legacy of the Ruataniwha dam, which is to commandeer large sums of public money often well away from the glare of public scrutiny. It's abundantly clear that transparency and the Ruataniwha dam are incompatible bedfellows.
'Ratepayers and taxpayers should prepare themselves for an assault on their wallets, as this zombie project has an insatiable appetite for public money,' finished Le Lievre.
About Wise Water Use HB:
Wise Water Use is a grassroots environmental advocacy group dedicated to promoting sustainable water management practices and ensuring transparent decision-making processes in Hawke's Bay. We work to protect the long-term interests of local ratepayers and safeguard the region's natural resources.
Supporting Information overleaf
Central FM interview with Mike Petersen from 8/10/24.
Interview link here (https://creators.spotify.com/pod/show/centralfm/episodes/Interview-with-Mike-Peterson-e2peqmo/a-abipq32)
Excerpt: 'This is a commercial project …we are not seeking public investment into this project at all' (1:30 – 2:00)
Excerpt from CHB Consumers' Power Trust Deed
12 Duties of Trustees
The Trustees shall:
12.1 As shareholders
Act as Diligent shareholders and in particular monitor the performance of the Directors of the Company and exercise the rights of shareholders for the benefit of the Trust Property and of the Consumers as beneficiaries. No Trustee shall exercise or attempt to exercise any rights or powers as a shareholder other than in the capacity of a Trustee, and in particular shall not exercise or attempt to exercise beneficial ownership of the shares. In exercising their rights and powers as shareholders the Trustees shall recognise and observe their status as Trustees holding shares in the Company and/or its Subsidiaries, and shall always endeavour to act collectively in the best interests of the Trust Property and of the Consumers as beneficiaries.
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