🎙Money Matters - The Daily Wounder
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What is Entrust Day and why does it matter to Auckland residents?
We'll see you next time.
Sherry and Minaya catch the radio show from 6 till 10 weekdays, The Hauraki
Breakfast.
Hey everyone, happy Entrust Day. This is the greatest day of the year that we're actually entering today. Monday the, what, 28th of September 2026. Can you explain
for anyone, I think this is an Auckland only thing. Ah, right. And even then I think it's particular parts of
Auckland. Oh, yeah, I think it is actually. Are you guys, is it Entrust Day for you guys or is it not Entrust Day for you guys? Yeah. I wouldn't know.
I don't know what that is.
Seriously, it's the greatest day. It's the greatest day to be an Entrust person. An Entrustee? What? An Entrustafarian. What is it? Entrust, it's like a trust, and it has 75% stake in Vector, which is a lines company, which runs the lines. For the power, you've got your retailer who you sign up for. Might be Mercury, might be Meridian, might be Genesis, one of those ones. And then there's that one. And then there's the next bit down is the lines company, so how the power gets to your house. Yeah. And then below that is the generator. And there can't be two. So Mercury and Meridian- Fuck,
I'm
lost.
They
can- They can be retailers. I have no idea what you're talking
about.
You've got to concentrate on what I'm saying.
Okay. If
you don't
concentrate, it's not going to make any sense to you. So the way electricity is made
in New Zealand. No, I don't give
a fuck about that.
Can you tell me what the interest is?
It's generated. Entrust owns the lines company. So
it's
how your power is delivered to your household. Okay. Not through the actual retailer. It's the one before that. The re-tailer. Just to make it clear, it's generated, it then generates down lines, and then it is retailed into your house. So those are the three parts to electricity. And they are all divided up, so one company can't own all three things. Right. It
can own two. But you are allowed to own all of the supermarkets.
How does Entrust’s ownership of Vector affect electricity pricing and dividends?
Yes, you're allowed to own
50%
of
the supermarkets. But
not the power. Yeah,
not the power. Because back in the day, it was owned by everyone. So power was a public thing. It was owned by the government. I feel like power and water both should be. Yeah, power and water were. And a bloody post office.
Telecommunications
was owned by
us.
Yes. The rail was owned by us. The banks were owned by us too. We owned pretty much
everything.
The hotels. The hotels were. We had hotels back in the day. The government had heaps of stuff. Then what happened? It sold it because we were bankrupt. Oh, okay. So we didn't have any money. We had this huge amount of debt and we had to sell it to keep the country going. Yeah, right. In the 80s. It was brutal. And it happened in 1984.
It happened like
overnight.
Okay.
And then all these people lost their jobs and the whole country changed like in four years, basically. Roginomics, that's what Roginomics was. Yeah. So it was just, yeah. But they were really inefficient, but they also
meant
that people had jobs and, you know, things were cheaper, etc., It was subsidized basically by the taxpayer. So Entrust owns Vector, which means, which is a lines company, which means that every year Entrust, Vector make up a whole lot of money. They make a profit and they deliver it back to the people who own it. Like a tax refund. Yeah. So as an entrustee,
as an
entrustafarian, because I live in an area that entrust on the lines, I get $377 a year. So do I. They give me a $377 check.
But when this first happened, I was like, this has got to be a scam because we just got a letter in the mail that said, hey, send us your bank account and we'll give you $300. And I was like, like, fuck, am I doing that? I blew my scam whistle.
Oh, did you?
Yeah, I blew the scam whistle in a piece of mail. I was like, absolutely not. This is the oldest trick in the book. Send me your fucking thing and I'll... So I didn't.
Why did New Zealand shift public utilities like power and water to private ownership in the 1980s?
So you didn't. You left that 377 on the table. No, my missus did. Oh, good. And then we got it. Yeah, so I don't know. It may have come into our account. Yeah, because
you can either get the check and you can go and back the check, or you can get it through on your bill, or you can get it through directly into your bank.
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Chapters
8 chapters
1
What is Entrust Day and why does it matter to Auckland residents?
0:00–2:48
2
How does Entrust’s ownership of Vector affect electricity pricing and dividends?
2:48–4:51
3
Why did New Zealand shift public utilities like power and water to private ownership in the 1980s?
4:51–6:34
4
What is the $377 annual dividend for Entrust‑area residents and how can it be claimed?
6:34–8:22
5
Why is Manaia retiring from the admin side of the show and what does that mean for listeners?
8:22–10:49
6
How did the Shark Edmund fundraiser raise $8,800 and what were the accounting hiccups?
10:49–13:13
7
When does a consumer‑rights claim under the Consumer Guarantees Act make sense?
13:13–15:02
8
What was the confusing Sky‑Vodafone partnership deal and why did it feel like a scam?
15:02–17:02