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Network Waitaki electricity line charges are increasing by an average 4.1%, but the company still expects them to be among the lowest in New Zealand.
The effect of the increase on individual consumers will vary. The rise will apply from April 1Taking the average New Zealand home using 8000kWh a year as defined by the Ministry of Economic Development, Network Waitaki chief executive Graham Clark calculated the annual line charge (which does not include the electricity cost) would increase from $591.20 (excluding GST) to $614.90.
Network Waitaki is owned by the 12,150 consumers connected to the company's power lines between Shag Point, the Waitaki River and inland to the Hakataramea Valley and Ohau. The 14 million shares are held by the Waitaki Power Trust on behalf of consumers. Each year, the company pays out some of its profit in a discount to its consumers - last year, it was $162 for an average residential consumer.
Mr Clark said this year's discount would be announced within the next week.
He expected the company would remain well within the lowest 10 for charges.