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Power trust candidates sought
Power trust candidates sought

Otago Daily Times

time21-06-2025

  • Business
  • Otago Daily Times

Power trust candidates sought

It is "not a job for the faint-hearted" but volunteers are needed to help keep the lights on across North Otago. The Waitaki Power Trust (WPT) elections are coming up and at least two new members will need to be elected to the consumer trust's five-person board. WPT holds all the shares in Oamaru-based lines company Network Waitaki Limited (NWL), on behalf of about 13,500 households and businesses connected to NWL's electricity distribution network. Long-serving trustee Herb Tonkin has been on the trust since retiring from work 23 years ago. "I was employed by the Waitaki Electric power board for 42 years and I thought it was over to me to give something back to the consumer." "It is the consumers' company — it belongs to every consumer." Fellow trustee John Clements agreed. "They are making a big song and dance about water, and how we're going to have three councils in charge of our water. "It's a very good parallel to draw with the network distribution company, which is ours." A big reason to vote in the election and stand for a seat on the trust was the annual consumer power rebate, which was only made possible through consumer ownership of the lines company, Mr Clements said. "Most consumers get about $79 which is a big help at Christmas time. "It's a rebate on the power, and appears as credit on the power account." Trustees serve a three-year term before becoming eligible to stand again for election or retire. Mr Tonkin and Mr Clements will retain their seats, while two trustees are stepping away and a third will stand for re-election. The WPT is administered by elected trustees and exists to provide oversight and represent the interests of consumers who are both owners and users of NWL's electricity distribution network. The trust monitors NWL's financial performance, ensuring profits are reasonable relative to asset value and capital works. It also undertakes an ownership review every 10 years. Mr Tonkin said being a trustee was an important job, requiring commitment, good knowledge of the trust deed, which established the trust legally, and the ability to foster good relations with NWL company directors. "A trustee is elected by consumers. "Their most important job is they interact with the directors of the company and approve any major transactions or new business undertaken by the company. "It's not a job for the faint-hearted. "The company is having to upgrade the electrical network and is spending a substantial amount to safeguard the continued supply of electricity in North Otago." The major project trustees provided oversight for at the moment is a $50million project to build a new grid exit point. Without it the region will run out of capacity to receive electricity from the national grid by 2027. "It's big biccies,"Mr Tonkin said. NWL chief executive Dylan Andrews said WPT trustees provided a crucial role in the annual setting and monitoring of the company's statement of corporate intent, as well as providing valuable customer insights. "There is an aligned commitment to ensure the company provides safe and reliable electricity service while investing in the network to meet future demands. "The WPT also provides valuable input into the company's annual pricing review. "Our relationship with the Waitaki Power Trust is positive and constructive, as demonstrated through joint activities such as the shared display at the annual North Otago A&P Show and the presentation of the Network Waitaki Sponsorship Awards, which celebrate and support local achievements. "The company is looking forward to working with current and future trustees who provide local insight from across our service areas." Nominations for candidates open on July 9 and close on July 30. Nomination forms are available on the Waitaki Power Trust website Postal voting ballots will be mailed to consumers on August 8 and voting closes on August 29.

What does an investigation into a major crash look like?
What does an investigation into a major crash look like?

7NEWS

time16-06-2025

  • General
  • 7NEWS

What does an investigation into a major crash look like?

As the world reels from the devastating plane crash in India, everyone is left asking: How does this happen? And what happens next? While rescue teams on the ground are saving lives and retrieving the dead, a whole different yet crucial process begins in the background — the crash investigation. Australian aviation consultant and Managing Director of Aviation Projects Keith Tonkin has shed light on how officials around the globe deal with these tragedies. 'The very first steps are to conduct the rescue and recovery operation,' Tonkin told After these first steps, a complex investigation procedure begins — one that often spans continents, years of research, and ultimately influences the course of aviation safety. Who examines a crash? Under international aviation law, the country where the accident occurred is responsible for carrying out the investigation. In the case of the Air India crash, India's Aircraft Accident Investigation Bureau (AAIB) is undertaking the investigation. Other countries are introduced based on their association with the event — for example, where the aircraft was built or designed, or whether there were large numbers of victims from another country. 'In the India crash, the United States will be involved because the aircraft was manufactured there,' Tonkin said. 'The UK is also participating because some passengers were British nationals.' What do they look for? Investigators use a combination of physical wreckage, electronic data, and human records to understand what happened during the incident. This includes: The black box — which is actually orange in colour — with flight data and cockpit audio The position of key components — if landing gear was deployed or engines were producing thrust Maintenance records, pilot training logs, and flight dispatch notes Environmental conditions like weather, wind, and visibility Video or audio information recorded by witnesses or onboard systems 'They'll look at physical evidence, witness remarks or telltale signs from the state of the physical aircraft, the engines to see if the engines were generating thrust or not, voice recorder and the flight data recorder that will have data on a number of different parameters of the aircraft for some time prior to the accident,' Tonkin said. How long does it take? These investigations are complex — involving global cooperation, technical reconstruction, and typically grieving families looking for answers. 'Probably expect one and a half or two years to get the full report, but there'll be preliminary results released in a few weeks,' Tonkin said. These preliminary reports can have a bearing on short-term safety suggestions, but it requires the full report to reveal the full picture. Could this ground other planes? When investigators discover a systemic safety risk, the regulators can choose to ground all planes of the model temporarily. That was done with the Boeing 737 MAX in 2019, following two deadly crashes linked to faulty software. 'If there's a systemic issue that relates to a particular aircraft type that needs to be resolved straight away, and that is a real important safety issue, then they will ground the fleet,' Tonkin said. In Australia, Virgin Australia and Bonza operate the Boeing 737 MAX. Its employment has been certified by the Civil Aviation Safety Authority (CASA), and it is regularly monitored for worldwide incidents. Can crashes change world aviation? Yes. Most of the most significant developments in aviation safety — from enhanced cockpit alerts to stricter maintenance schedules — were born out of tragedy. 'They can all be influenced by the results of these investigations,' Tonkin said. If an accident reveals shortcomings in the design, maintenance or operation of an aircraft, lessons are shared worldwide. The International Civil Aviation Organisation allows worldwide rule changes to prevent future catastrophes. What about the airline? Restoring confidence may be a difficult and lengthy process for the participating carrier — in this case, Air India. 'People will be rightfully concerned about hopping on another aircraft,' Tonkin said. Tonkin said that the airline has to 'double down on responding to whatever the findings are from the investigation' and take measures to prevent a repeat. Each crash has long-term consequences for passengers, airlines, regulators, and the global flying public. These investigations don't just tell us what went wrong — they make sure it doesn't happen again.

Aussie consumers warned over ‘dangerous' wage advancing pay trend
Aussie consumers warned over ‘dangerous' wage advancing pay trend

Herald Sun

time10-06-2025

  • Business
  • Herald Sun

Aussie consumers warned over ‘dangerous' wage advancing pay trend

Don't miss out on the headlines from Business Breaking News. Followed categories will be added to My News. Australian consumers have been warned about a 'dangerous' new financial product sending struggling people into debt spirals, and consumer advocates say urgent regulation is needed. Wage advance services are advertised as offering a quick and easy way to borrow money before your payday, some offering the advances within a minute. The products are under no obligation to assess a person's ability to service the debt or to give financial hardship assistance. This has led to a chorus of consumer advocacy groups to call on the Albanese government to urgently regulate the services that they say make the cost-of-living crisis worse and are sending thousands into dangerous debt spirals. Consumer Action Law Centre chief Stephanie Tonkin said she had heard from people who had taken multiple wage advance contracts and had ended up committing their whole income to repaying the loans. 'These products encourage people to borrow against their future income to meet their essential living needs, and this can cause serious harm when there's no extra money in the next pay cycle, only greater debt,' Ms Tonkin said. 'The fees add up very quickly if you're stuck in a cycle of borrowing now to pay more later.' This fresh warning comes as buy now, pay later (BNPL) products are brought under the National Consumer Credit Protection Act, a long-time campaign goal for consumer advocacy groups. 'We want wage advance brought under the Credit Act as a priority to give people the same consumer protections as BNPL,' Ms Tonkin said. 'It's taken years for BNPL to be regulated – we can't wait that long again.' Consumer Credit Legal Service principal solicitor Roberta Grealish likened the proliferation of this type of financial product to a game of 'whack a mole'. 'Wage advance products now need to be brought within the Credit Act to prevent the harms that the new BNPL rules hope to address simply shifting into this space,' Ms Grealish said. Choice campaigns director Rosie Thomas said the work to close 'lending loopholes' was not yet finished. 'Consumers will continue to be harmed until wage advance is also regulated as credit,' she said. Originally published as Consumer advocates warn Aussies about 'dangerous' wage advancing products and call for further regulation

Aussies warned over new pay trend
Aussies warned over new pay trend

Perth Now

time10-06-2025

  • Business
  • Perth Now

Aussies warned over new pay trend

Australian consumers have been warned about a 'dangerous' new financial product sending struggling people into debt spirals, and consumer advocates say urgent regulation is needed. Wage advance services are advertised as offering a quick and easy way to borrow money before your payday, some offering the advances within a minute. The products are under no obligation to assess a person's ability to service the debt or to give financial hardship assistance. This has led to a chorus of consumer advocacy groups to call on the Albanese government to urgently regulate the services that they say make the cost-of-living crisis worse and are sending thousands into dangerous debt spirals. Consumer Action Law Centre chief Stephanie Tonkin said she had heard from people who had taken multiple wage advance contracts and had ended up committing their whole income to repaying the loans. Consumer advocates have warned the wage advancing products are sending thousands into debt spirals. NewsWire / Nicholas Eagar Credit: NewsWire 'These products encourage people to borrow against their future income to meet their essential living needs, and this can cause serious harm when there's no extra money in the next pay cycle, only greater debt,' Ms Tonkin said. 'The fees add up very quickly if you're stuck in a cycle of borrowing now to pay more later.' This fresh warning comes as buy now, pay later (BNPL) products are brought under the National Consumer Credit Protection Act, a long-time campaign goal for consumer advocacy groups. Buy now, pay later products face regulation under the Credit Act from June 10. NewsWire / Gaye Gerard Credit: News Corp Australia 'We want wage advance brought under the Credit Act as a priority to give people the same consumer protections as BNPL,' Ms Tonkin said. 'It's taken years for BNPL to be regulated – we can't wait that long again.' Consumer Credit Legal Service principal solicitor Roberta Grealish likened the proliferation of this type of financial product to a game of 'whack a mole'. 'Wage advance products now need to be brought within the Credit Act to prevent the harms that the new BNPL rules hope to address simply shifting into this space,' Ms Grealish said. Choice campaigns director Rosie Thomas said the work to close 'lending loopholes' was not yet finished. 'Consumers will continue to be harmed until wage advance is also regulated as credit,' she said.

Consumer advocates warn Aussies about ‘dangerous' wage advancing products and call for further regulation
Consumer advocates warn Aussies about ‘dangerous' wage advancing products and call for further regulation

West Australian

time10-06-2025

  • Business
  • West Australian

Consumer advocates warn Aussies about ‘dangerous' wage advancing products and call for further regulation

Australian consumers have been warned about a 'dangerous' new financial product sending struggling people into debt spirals, and consumer advocates say urgent regulation is needed. Wage advance services are advertised as offering a quick and easy way to borrow money before your payday, some offering the advances within a minute. The products are under no obligation to assess a person's ability to service the debt or to give financial hardship assistance. This has led to a chorus of consumer advocacy groups to call on the Albanese government to urgently regulate the services that they say make the cost-of-living crisis worse and are sending thousands into dangerous debt spirals. Consumer Action Law Centre chief Stephanie Tonkin said she had heard from people who had taken multiple wage advance contracts and had ended up committing their whole income to repaying the loans. 'These products encourage people to borrow against their future income to meet their essential living needs, and this can cause serious harm when there's no extra money in the next pay cycle, only greater debt,' Ms Tonkin said. 'The fees add up very quickly if you're stuck in a cycle of borrowing now to pay more later.' This fresh warning comes as buy now, pay later (BNPL) products are brought under the National Consumer Credit Protection Act , a long-time campaign goal for consumer advocacy groups. 'We want wage advance brought under the Credit Act as a priority to give people the same consumer protections as BNPL,' Ms Tonkin said. 'It's taken years for BNPL to be regulated – we can't wait that long again.' Consumer Credit Legal Service principal solicitor Roberta Grealish likened the proliferation of this type of financial product to a game of 'whack a mole'. 'Wage advance products now need to be brought within the Credit Act to prevent the harms that the new BNPL rules hope to address simply shifting into this space,' Ms Grealish said. Choice campaigns director Rosie Thomas said the work to close 'lending loopholes' was not yet finished. 'Consumers will continue to be harmed until wage advance is also regulated as credit,' she said.

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