Regulator approves applications by Powerco and Wellington Electricity to lift prices

Tue, 27 Mar 2018

By Rebecca Howard March 28 (BusinessDesk) - The Commerce Commission has approved an application by lines company Powerco to raise prices to fund a $1.27 billion upgrade of its network. It also gave Wellington Electricity a green light to increase prices to fund its earthquake readiness plan. Regarding Powerco, "our final decision is largely unchanged from our draft. This investment, which is a third more than Powerco has spent on its network in the past five years, is necessary to maintain a safe, secure and reliable network for its custo...

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