Vector to return $13.9M to Auckland consumers after tariff change breaches revenue cap

Fri, 07 Jul 2017

By Paul McBeth July 7 (BusinessDesk) - Vector will return $13.9 million to Auckland electricity customers after a change to the way it set two tariffs in 2013 saw it breach its regulated revenue cap in the following two years. The Auckland-based electricity, gas and telecommunications lines company cut a deal with the Commerce Commission where it will set its prices for the relevant customers below the maximum it can charge on the regulated lines, reducing 2019 revenue by $4.6 million and 2020 revenue by $9.3 million. Vector inadverte...

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