Powerco eyes price hikes to pay for $1.4 billion network upgrade

Tue, 17 Jan 2017

By Paul McBeth Jan. 17 (BusinessDesk) - Powerco, the gas and electricity lines company owned by fund managers QIC and AMP Capital, wants to raise prices to help fund an upgrade to networks across the North Island that it says could cost as much as $1.4 billion. The New Plymouth-based company will ask the Commerce Commission to raise weekly prices by $1-to-$1.50 per household, it said in a statement. Powerco distributes electricity to more than 320,000 houses and business across the North Island, implying a price hike if approved that wou...

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