$6.5 million dollar line charge holiday

Tuesday 13th February 2007

$6.5 million dollar line charge holiday

The Northpower ‘line charge holiday’ is here.

Northpower will again, provide all consumers connected to its network with a line charge holiday, which this year totals 6.5 million dollars.

The line charge holiday will appear in the form of a credit on consumers March power accounts regardless of the electricity retailer.

The credit is distributed to all consumers connected to Northpower’s lines as at midnight 13th February 2007.

Northpower network consumers who use between 2,000 - 15,000 units per year will receive a $120 credit. Small users (less than 2000) will receive $50 and the large users (greater than 15000 units) will receive $195.

Northpower Chairman Warren Moyes said that the company continues to perform well and is pleased to be able to pass on a contribution to its customers.

“Customers will save a total of $6.5 million dollars on line charges. This amount is what the company would have expected to receive for maintaining and operating the lines, transformers, and poles for just over two months,” Mr Moyes said.

Including this years line charge holiday, Northpower will have returned 63.1 million dollars to consumers via line charge holidays, since 1997.

Since Northpower was formed in 1993, the company has also contributed a total of 56.7 million dollars to the Northpower Electric Power Trust (NEPT), in addition to the line charge holidays.

ENDS

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