Aect Calls on Commission for Price Reset Transparency

Aect Calls on Commission for Price Reset Transparency for Consumers

Auckland, 28 November 2014 - The AECT (Auckland Energy Consumer Trust), on behalf of their more than 316,000 beneficiaries, note the impact of today’s Commerce Commission decision on the Electricity Default Price Path reset for Vector along with the Commission’s earlier decision on the reduction in WACC percentile.

In their decision to reduce the WACC (Weighted Average Cost of Capital), the Commerce Commission identified benefits of $45 million across New Zealand flowing back to consumers as one of the justifications for changing their long held position from a WACC percentile of 75% to 67%.

The AECT, in representing Auckland’s consumer interests, call on the Commerce Commission to immediately make available the mechanism, method and analysis they have used to show that previous price reductions have been passed through to consumers and future price changes will also be passed through.

In the interests of transparency, the AECT ask that the Commerce Commission make this readily available to all.

ENDS

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