CORRECT: $300M benefit to consumers touted from embedded generation subsidy removal

Mon, 05 Dec 2016

(Corrects annual value of benefit in first paragraph) By Pattrick Smellie Dec. 6 (BusinessDesk) - The Electricity Authority is ending subsidies to power stations that are embedded in local electricity networks rather than connected to the national grid in a move the regulator says will save consumers around $25 million to $35 million a year, or $279 million on a net present value basis. The decision, announced this morning, follows last Friday's rejection by the High Court of a bid by Infratil-controlled Trustpower, to force a judicia...

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