Network Tasman announces $3.6 million in line charge discounts

In its second discount credited to power accounts this year, consumer-owned local electricity distributor Network Tasman will credit a further $3.6 million to its consumers’ December power bills.

“This discount brings the total paid to consumers during 2017 to $12 million,” said Network Tasman CEO Oliver Kearney, “and is at the same level as our December 2016 discount.

“Network Tasman continues to re-invest in its core electricity network and is planning for the expected long-term growth of our region.”

Oliver Kearney said the company’s 39,500 consumers will receive a discount that is based upon the amount of power used, but an average residential consumer using 6,900kWh per annum can expect a discount of $57 (including GST) on their December power bill.

To be eligible, a consumer must have had an active, metered connection to Network Tasman’s electricity distribution system as at midnight on 15 November 2017. The network covers the Nelson Tasman region, excluding the central Nelson area.

The company is currently arranging for electricity retailers to credit the discounts onto consumers’ power bills from late November through to the end of December. The discount will be clearly identified as a separate item. 

“Eligible consumers will automatically receive a discount irrespective of which electricity retailer they’re signed up with,” said Mr Kearney. “Switching retailers does not alter this entitlement because the discount comes from Network Tasman and not the retailer.” 

Network Tasman is 100% consumer-owned by the Network Tasman Trust. Consumer ownership and a focus on cost efficiency has enabled Network Tasman to credit $165 million of discounts back to consumers in the region since 1994. Network Tasman’s residential line charges remain among the lowest in the country.

The Network Tasman Trust, which owns Network Tasman Ltd on behalf of consumers, receives a dividend each year from Network Tasman Ltd. Consumers will receive a cheque from the Trust in December which is a distribution of accumulated funds. The cheque paid by the Trust is separate from, and additional to, the discount provided by Network Tasman.