Network Tasman announces $8.3 million in line charge discounts

Consumer-owned local electricity distributor Network Tasman has announced $8.3 million of sales discounts are about to be credited onto its consumers’ August power bills. 

“Network Tasman is pleased to provide a winter discount this year at the same level as our winter 2015 discount,” said Network Tasman CEO Wayne Mackey. “This has been achieved while delivering a reliable electricity supply and ongoing investment in our network – notably completing the Upper Takaka area substation which was officially opened in June. 

“Ministry of Business Innovation and Employment surveys show that even before applying this discount Network Tasman’s residential line charges remain among the lowest in the country.” 

Virtually all of the company’s 38,500 consumers will receive a discount at a rate of 2.2 cents on each unit of electricity consumed during the last year.

To be eligible a consumer must have had an active, metered connection to Network Tasman’s electricity distribution system as at midnight 20 July 2016. 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 July through to the end of August. The discount will be clearly identified as a separate item on consumers’ power accounts.  

“Eligible consumers will receive a discount irrespective of which electricity retailer they choose,” said Mr Mackey. ”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 more than $140 million of discounts back to consumers in  the region since the scheme’s inception in 1994. 

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