Regulation Imposed Price Decreases Should Benefit Consumers

Media Release

Regulation Imposed Price Decreases Should Benefit Consumers

Auckland, 25 July 2013 – Energy Trusts of New Zealand Inc (ETNZ), the national organisation for 21 energy trusts, the majority of whom own shares in companies that operate electricity networks today renewed its call for power retailers to pass on the full benefit of regulation imposed price decreases to their customers.

ETNZ Chairperson, Karen Sherry says that all of New Zealand’s energy trusts should take note of what was happening in Auckland, following the price decrease imposed on Vector’s electricity lines business.

“Auckland’s residential electricity consumers don’t seem to be benefitting from the regulation imposed price decrease. The regulatory regime is supposed to benefit consumers, but in Auckland the power retailers appear to have retained most of the benefit, rather than passing it through.

“We support the stand that the Auckland Energy Consumer Trust* is taking, and call for a better deal for Auckland’s electricity consumers.”

ENDS

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