Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Orion advises new prices that reflect Com Com Decision

Media statement - for immediate release
3.00pm, 30 January 2014

Orion advises new prices that reflect Commerce Commission decision

Christchurch-based electricity distributor Orion is to increase its prices to reflect the Commerce Commission's recent decision on the prices Orion can charge and the quality standards Orion must meet. The price increase will apply from 1 April 2014. Orion's prices will remain below the New Zealand average for network charges to household customers after the price increase.

Under the Commerce Act, the Commission regulates Orion's prices. In November 2013, after review of the impact of the Canterbury earthquakes on Orion, the Commission announced future price and quality levels for Orion that the Commission considered appropriate and in the best long term interest of electricity consumers in the region.

If electricity retailers elect to pass on the Orion price increase to customers, and pass on a 1 April 2014 price increase of 9% from the national grid owner, Transpower, the average household electricity bill will increase by around 4% in Orion's network area.  Orion's and Transpower's charges together represent around 40% of an average household power bill.

"Orion is very mindful of the impact any price increase has, especially for those on lower incomes.  However, it will cost hundreds of millions of dollars to continue the network rebuild work we have already begun and to ensure our network is resilient enough to protect our community," says Orion chief executive Rob Jamieson.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Brewing: Lion To Buy Cult Upper Hutt Brewer Panhead

Lion - Beer, Spirits and Wine (NZ), New Zealand's biggest beer maker, has agreed to buy Panhead Custom Ales from the family of founder Mike Neilson, its second such purchase of a popular craft brewer after the acquisition of Dunedin-based Emerson's Brewing Co in 2012. More>>

ALSO:

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Gongs Got: Canon Media Awards & NZ Radio Awards Happen

Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news