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

 

Vector - where are our customers’ refunds?

Vector - where are our customers’ refunds?

14 July 2017 – Mercury wants Vector to accelerate a repayment of nearly $14m to Auckland consumers following the electricity distribution company’s admission of overcharging dating back to 2013.
And Mercury is offering to help to make that happen.

Vector has admitted overcharging its customers after a change to the way it set prices. Mercury believes the refund should be returned quickly to customers rather than Vector addressing it through reduced lines charges spread over a number of years.

Mercury’s chief marketing officer Julia Jack says that it is actually the customer’s money and it would help them with the current winter chill.

“Customers shouldn’t have to wait, and they will lose sight of the money they are owed,” Ms Jack says.

“Given that the Commerce Commission has said that Vector made unreasonable assumptions leading to the overcharging, what would be reasonable is distributing the amount overcharged as quickly as possible back to those households in the Auckland region.”

Mercury has calculated that the amount at stake, averaged over all homes in areas identified by Vector as likely impacted by the overcharging, would be in the vicinity of $25 per home.
“At a time when Auckland families are facing a really cold snap, that $25 could be particularly useful.”

Mercury wants to work with Vector to have the $13.9m released to all retailers so the amount could be applied to energy costs via a rebate. It is encouraging other retailers to consider how best to distribute the sum owed.

“From Mercury’s perspective we’ll ensure that our customers get every cent passed through from the Vector refund,” says Ms Jack.

To give confidence around distribution of the payment, Mercury says it would have the rebate externally audited and would make that report public.

“To be doubly sure, we’ll top up the amount by 5% to Mercury customers if Vector hands over the cheque in the next 30 days,” Ms Jack says.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Superu Report: Land Regulation Drives Auckland House Prices

Land use regulation is responsible for up to 56 per cent of the cost of an average house in Auckland according to a new research report quantifying the impact of land use regulations, Finance Minister Steven Joyce says. More>>

ALSO:

Fletcher Whittled: Fletcher Dumps Adamson In Face Of Dissatisfaction

Fletcher Building has taken the unusual step of dumping its chief executive, Mark Adamson, as the company slashed its full-year earnings guidance and flagged an impairment against Australian assets. More>>

ALSO:

No More Dog Docking: New Animal Welfare Regulations Progressed

“These 46 regulations include stock transport, farm husbandry, companion and working animals, pigs, layer hens and the way animals are accounted for in research, testing and teaching.” More>>

ALSO:

Employment: Most Kiwifruit Contractors Breaking Law

A Labour Inspectorate operation targeting the kiwifruit industry in Bay of Plenty has found the majority of labour hire contractors are breaching their obligations as employers. More>>

ALSO:

'Work Experience': Welfare Group Opposes The Warehouse Workfare

“This programme is about exploiting unemployed youth, not teaching them skills. The government are subsidising the Warehouse in the name of reducing benefit dependency,” says Vanessa Cole, spokesperson for Auckland Action Against Poverty. More>>

ALSO:

Internet Taxes: Labour To Target $600M In Unpaid Taxes From Multinationals

The Labour Party would target multinationals operating in New Zealand to ensure they don't avoid paying tax if it wins power and is targeting $600 million over three years through a "diverted profits tax," says leader Andrew Little. More>>

ALSO: