26/5/2006

"Meridian Energy's decision to give the Government an $800 million
windfall 'special dividend' has angered Grey Power members," said National President Graham Stairmand.

He said "the money should have been kept for future capital development."

Mr Stairmand said, "Previously, Meridian Energy hiked electricity prices 15% to cover the Waitaki River, Project Acqua Scheme, and when it was cancelled there was no 15% price reduction."

"The Government already receives many millions in company tax, GST and ordinary dividends from Meridian Energy and this latest carve up shows a complete disregard for the rights of domestic electricity consumers, many of whom are elderly pensioners on fixed incomes."

Mr Stairmand said "If there are any spare funds, Meridian Energy should rebate it back to consumers."

ENDS

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