Vector can withstand impact of regulator’s price ruling, says Moody’s

Thu, 28 Feb 2013

March 1 (BusinessDesk) – Price cuts imposed by the Commerce Commission are negative for Vector though the gas distribution network owner has enough of a cushion to ensure its credit rating doesn’t need to be cut, says Moody’s Investors Service. The competition regulator yesterday confirmed Vector will have to cut its prices by 18 percent, and cut its wholesale gas transmission charges by 29.5 percent. The final determinations are in line with earlier drafts, and remain the subject of a High Court merits appeal led by Vector. "The commission’...

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