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

 


Contact passing on changes in lines company charges

25 February 2014

Contact passing on changes in lines company charges

Contact has begun notifying its customers of changes to their electricity costs due to increases in the costs charged by local lines companies, effective 1 April 2014.

These changes relate to the network and transmission portion of a residential or small business’ electricity bill (approximately 40% of the total electricity bill) only, and do not include any change to the energy or service related costs which Contact has committed to holding flat until at least April 2015.

Each of the 29 local lines companies in New Zealand set their own tariffs and charges. While the average bill increase as a result of the changes is 2.6%, there are some regions where the price changes are much higher.

At Contact’s recent half year results presentation, Dennis Barnes, Contact’s Chief Executive, commented that the ability for electricity retailers to innovate new products and offerings for customers is stifled by the complexity of the existing lines companies’ pricing structures.

“While we support lines companies earning an adequate return on their assets to ensure the long term security and reliability of New Zealand’s electricity network, the inherent complexity of having so many different tariffs and cost structures in such a small market is not providing the right environment for the market to efficiently innovate new retail products” said Mr Barnes.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news