Regulator gives provisional thumbs up to Powerco price hike for $1.27 bln upgrade

Wed, 15 Nov 2017

By Paul McBeth Nov. 16 (BusinessDesk) - The Commerce Commission has given the early all-clear for lines company Powerco to raise prices to fund a $1.27 billion upgrade of its network over the next five years. The regulator's draft ruling today would let the New Plymouth-based company increase prices to recover the cost of reinvesting in its network, which is coming under growing pressure at a time when parts of it are nearing the end of their life. If the decision is upheld in its final review, the average residential monthly electricity...

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