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$5 million bonus for Northpower consumers

$5 million bonus for Northpower consumers

Around 55,000 Northpower consumers are to receive yet another cash injection – this time totalling more than $5 million.

The 2014 Northpower line holiday will result in $5.47m being returned to Northpower consumers throughout Kaipara and Whangarei. Included is a $600,000 industry rebate.

In just 14 months, Northpower consumers have received four separate credits worth more than $19m (over $11m in line holidays and $8m in Northpower Electric Power Trust distributions). And since 1993, $187m has been returned directly to Northpower consumers by the company and the NEPT – $99.7m in line holidays and $88m in NEPT distributions.

Thanks to this latest line holiday, consumers connected to the Northpower electricity network at 6am on February 12 will receive credits of between $35 and $145 on their next power accounts issued by electricity retailers.

The credits are based on energy consumption for the previous 12 months. The payout is broken into three tiers:

• $145 for people who used more than 15,000 units

• $95 for consumers who used between 2,000 and 15,000 units

• $35 for those who used less than 2000 units

Currently 55,605 power installation control points (ICPs) are connected to the Northpower network, although some properties (such as dairy farms) have more than one ICP.

Northpower Chairman Warren Moyes says Northpower’s financial performance is
very pleasing.

“We are still reinvesting in the business and growing as a company,” says Mr Moyes.

“Our Australian business is profitable and the performance of the Northpower electricity network has been very impressive for many years now – as signified by being voted New Zealand’s Lines Company of the Year in 2013.”

Northpower Network General Manager Graham Dawson believes Northpower is on track for a strong year in 2014.

“Through our continuous improvement programme we are constantly looking at ways to improve our performance and keep costs under control, while enabling the community through technology leadership in projects such as the electric vehicle initiative and our Whangarei fibre network.

“Once we have completed our ultra-fast broadband fibre network build in Whangarei this year we will be looking to broaden our scope in fibre. This will also be of benefit to our community as a long-term investment and to help enable our community to progress and keep up with the rest of the world.”

To find out more: 0800 15 50 50

ENDS

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