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


Chorus Delivers Savings To RSPs On Fibre Pricing, Supports On Lockdown Debt

Chorus has today updated Retail Service Providers (RSPs) on planned changes to the pricing of its wholesale fibre products over the next three months, along with outlining its support to RSPs on the doubtful debts they accrued during lockdown.

The reduced pricing and delayed increase are expected to deliver savings of around $10m to RSPs, and the lockdown debt package is a further $2m of value.

The key planned product changes are:

· Gigabit wholesale fibre pricing will reduce from $60 a month to $56 a month from 01 July 2020. Gigabit is already Chorus’ fastest growing plan.

· As previously signalled, the annual regulated CPI increase to fibre products will be delayed until 01 October 2020, at which point the price for 100Mbps fibre will increase from $46 to $47.15. Chorus is consulting with RSPs on this change over the next two weeks.

· Small business fibre pricing will reduce by $3 a month to $52 from 01 July 2020, acknowledging the pressure SMEs are facing.

The price changes are wholesale only and the decision about passing on either reductions or increases to consumers sits with the RSPs.

Chorus CEO JB Rousselot said the changes strike the right balance of passing on savings to RSPs, while still enabling ongoing investment in infrastructure.

“We are conscious of the critical role Chorus infrastructure played during the lockdown, and we believe this mix of pricing changes will support RSPs, allow Chorus to continue to invest in the capacity, reach and resilience of the fibre network, and also enable more customers to benefit from higher specification plans.”

“For example, the value of gigabit plans was seen during the lockdown, as they are the ideal connection for families who may have multiple people working or learning from home all at the same time. High-quality small business fibre will also have an important role to play in supporting economic recovery.”

In addition to the savings, Chorus has also announced that it would create a further fund of $2m to provide relief for RSPs who elected not to cut off customers who were unable to pay during the lockdown.

“We support the decision some RSPs made not to cut off customers during the lockdown, which in some cases has seen customers’ debt to them grow, potentially resulting in higher than usual rates

of non-payment.

“We have said throughout that Chorus will play its part in supporting RSPs that faced the risk of higher bad debt due to the lockdown. The fund represents an estimate of the increased risk of bad debts experienced by the industry, for the period of the lockdown, based on feedback from retailers and other industry analysis,” he said.

© Scoop Media

Business Headlines | Sci-Tech Headlines


It’s All In The Genomes: New Study Reveals Scale Of Havelock North Campylobacteriosis Outbreak

When the campylobacteria outbreak hit Havelock North in 2016, no-one fully understood how widely it affected the local communities. Gene-sequencing technology used by scientists has shown the true scale of the outbreak. The joint study from ESR, Massey ... More>>


Tiwai Point: Rio Tinto Announces Plans To Close Tiwai Point Smelter

Rio Tinto has just announced that it will wind down New Zealand Aluminium Smelters - the Tiwai Point smelter - saying the business is no longer viable. More>>


Freight: New Report On Auckland Port Relocation

The Government has released a major new report on the options for relocating the Port of Auckland’s freight operations while deferring any decision on the issue. More>>


Taxation: Black-Market Tobacco Sidesteps $287 Million In Excise Tax

Year-on-year increases in consumption of illicit tobacco in New Zealand have seen illegal trade swell to 11.5% of the total market. If consumed legally, illicit products would have netted the Government $287 million in excise tax during 2019. Independent ... More>>


Energy Sector: Meridian Spilled Water To Hike Electricity Prices - Authority Ruling

The Electricity Authority has found that generator Meridian Energy manipulated the power market, costing consumers about $80 million. More>>


XE Data Update: RBNZ Official Cash Rate Decision

The RBNZ will keep the Official Cash Rate (OCR) at 0.25%. T he key points in the RBNZ statement are: RBNZ keeps the OCR unchanged at 0.25% Maintain the LSAP (large scale asset purchase) at NZD$60 billion. Committee prepared to use additional monetary ... More>>


Electricity: Kiwis Ignore Promise Of Cheaper Power

Electric Kiwi and Flick Electric Co are joint winners of Canstar Blue’s award for Most Satisfied Customers | Electricity Providers From putting on an extra layer – rather than turning on a heater – to turning off lights and choosing the energy-saving ... More>>


ASB: Regional Economic Scoreboard Q1 2020

ASB NZ Regional Economic Scoreboard Gisborne still the place to be It has been Gisborne’s year, and the region comes out tops on our regional rankings for the fourth successive quarter. Like everywhere, question marks are about the COVID-19 impact on the future. ... More>>

RNZ: Economic Activity And Business Confidence Bouncing Back

Two surveys from ANZ show business confidence and economic activity have rebounded, but uncertainty about the future remains extreme. More>>


NIWA: The Climate Record That Keeps Getting Broken

Among the multitude of New Zealand climate statistics there is one record that continues to be broken month after month. Since January 2017 there has not been one month that recorded a below average nationwide temperature, according to NIWA’s seven station ... More>>


Govt: Extended Loan Scheme Keeps Business Afloat

Small businesses are getting greater certainty about access to finance with an extension to the interest-free cashflow loan scheme to the end of the year. The Small Business Cashflow Loan Scheme has already been extended once, to 24 July. Revenue and Small ... More>>


Science: 2019 Prime Minister’s Science Prizes Announced

The 2019 Prime Minister’s Science Prizes have been announced in a digital livestream event today. The Prizes recognise the impact of science on New Zealanders’ lives, celebrate the achievements of current scientists and encourage scientists of the ... More>>


Stardome Observatory: Young Kiwi Astro-Photographer Shoots For The Stars

Matariki by Josh Kirkley. The stars are aligning for up-and-coming Auckland-based astro-photographer Josh Kirkley (Kāi Tahu). During lockdown, one of his images was picked up by NASA and shared on the space agency’s Instagram to its 59.2 million ... More>>

DCANZ: Time For EU To Commit To A Level Playing Field For Trade

The Dairy Companies Association of New Zealand (DCANZ) has welcomed New Zealand Trade Minister David Parker’s statement that it is unacceptable for New Zealand exporters to continue facing an ‘unlevel playing field’ in the EU. Details leaked ... More>>


New Zealand Government: Supporting Kiwi Businesses To Resolve Rent Disputes

The Government will legislate to ensure businesses that suffered as a result of the COVID-19 response will get help to resolve disputes over commercial rent issues, Justice Minister Andrew Little announced today. More>>