Top Energy pays out $5.9m to Far North power customers

Top Energy pays out $5.9m to Far North power customers

Power bills to be credited

Electricity account holders in the Far North will have a Top Energy lines charge discount credited directly to their next power bill. The payment will appear as a one-off credit on the bills that all power consumers in the Far North receive from their electricity retailers.

Nine out of every 10 electricity bill payers will have $200 credited to their power accounts. The credit is based on the amount of power used during the last year so large commercial accounts will receive a higher amount with some low-usage accounts, for things like pumps and water troughs, receiving less.

The Trustees of the Top Energy Consumer Trust, the organisation that represents consumer interests in the region’s electricity network, supports the pay-out to consumers by the company. Last year was a tough year for the Top Energy Group but this year’s financial performance has been better than expected. Top Energy has had to grapple with a number of severe weather events and equipment failures in recent times. During the last financial year $25m was spent on rebuilding parts of the system, including end-of-life transmission assets purchased in 2012. This work is ongoing.

The credit will help free up cash for Christmas for all eligible electricity account holders, regardless of how they pay their power bills.

“Those who get a monthly power bill, either by email or through the post, will have the Top Energy lines charge discount credited by their electricity retailers to the bills they receive in November or December, making them lower than usual,” said Top Energy CEO Russell Shaw. “The same will apply to consumers who make direct debit payments.”

Those who pay by automatic payment will be able to reduce the amount they pay at each instalment, or put a stop to payments for a while. And people with pre-paid electricity accounts can check their balances and choose whether or not to make their usual payments.

Electricity account holders will receive information about the power bill credits during November, either with their electricity bills or directly in the mail from Top Energy. The company is also running a series of radio advertisements and has posted information on its website, www.topenergy.co.nz.

ENDS

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