Submission
Which option do you prefer?
Option Two – The alternative option – Keep Aurora Energy
Further comment
I oppose the sale:
1 Aurora has already made a major investment in asset replacement and renewal
2 Water and electricity are key components of our infrastructure: a previous Council sold Waipori and we are paying huge amounts for our electricity previously offset by income from Waipori
3 The Mayor says that this sale would be selling a company and not an asset. No doubt to alleviate the anxiety of people who see this as a sale of the 'family silver" . Definition :An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. So weasel words trying to pretend the sale is something other than it really is: selling the family silver.
4 Aurora is in the position that it is now and has provided no dividends since 2017 because of previous Councils who pillaged it to pay for a stadium. I am deeply concerned that the existing or a future Council would fritter away the proceeds from the sale to fund nice to have projects, like George St modifications.
5 Council must be very careful and fund only the projects we can afford: we must live within our means and the carrot of offsetting future rate rises (not the current one of over 17%) by proceeds form the sale is fanciful. This Council can make no promises that ratepayers would enjoy reduced rates.
6 Previous asset sales in NZ (Kiwi Rail, Telecom) did not serve us well, buying back Kiwi Rail for enormous sums of money. Council must retain control of our assets and not plunder than any further to fund nice to have projects.
Supporting information
No associated documents with this submission.
Submitter
Submission id number: 1042603
Submitter name:
Margaret Henry
Organisation