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$3.8m returned to Northpower consumers

Northpower Limited Media Statement
4 December, 2013

$3.8m returned to Northpower consumers

For the second year running, Northpower consumers will receive a pre-Christmas gift from the Northpower Electric Power Trust.

All electricity consumers connected to the Northpower lines network in Kaipara and Whangarei will find a $70 tax free credit on their December power accounts.

The distribution totals $3.8 million and is allocated to the 55,605 power installation control points (ICPs) connected to the Northpower network at 6am, December 4, 2013.

Northpower Public Affairs Manager Steve Macmillan says customers who do not receive the $70 credit on their next power account should contact the NEPT information line on 0800 434 100.

Pre-pay customers can expect the credit to appear next time they top up their account – although this can sometimes take up to a week.

Mr Macmillan says over the past 20 years, Northpower consumers have received more than $182 million through the NEPT distributions and Northpower line holidays.

“This is the second distribution from the NEPT in 12 months and it is always satisfying for the Trust to be able to pass on profits from Northpower, as this is a sign of a successful and growing company,” says Mr Macmillan.

“2013 has been a strong year for Northpower after reporting a group net profit after tax of $11.3 million for the 2012/1013 financial year. It was voted New Zealand’s ‘Lines Company of The Year”, made great progress on the Northpower Fibre ultra-fast broadband build in Whangarei and received the 2013 Calix Innovation award for ‘Fibre Transformation’.

“West Coast Energy is performing well in Australia, Northpower’s New Zealand Contracting business remains strong and the company continues to secure project work in the Pacific Islands,” he says.

The NEPT owns Northpower on behalf of the electricity consumers of the Kaipara and Whangarei Districts and this 2013 distribution is the customer’s share of Northpower’s profits paid to the Trust by Northpower.

The $70 credit will appear on December power accounts regardless of which electricity retailer consumers are with. Northpower supplies electricity to the Kaipara and Whangarei Districts through a number of retailers, including Pulse, Mercury, Meridian, Contact and Genesis.

ENDS

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