Meridian axes 'unjustifiable' prompt payment discounts

Fri, 14 Sep 2018

By Pattrick Smellie Sept. 14 (BusinessDesk) - Meridian Energy has axed "unjustifiable" prompt payment discounts, effectively cutting its power prices to all customers by the 10-to-16 percent discount it has traditionally offered to those who pay their electricity bills on time. The move gives Meridian the moral high ground after Tuesday's initial report from the government's electricity review panel criticised the widespread use of the discounts, which really operate as penalties on customers who pay late. The impact of those penalties...

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