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- Release Date: 30/11/12 11:26
- Summary: GENERAL: VCT: Vector's focus remains on Merit Review process
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VCT
30/11/2012 09:26
GENERAL
REL: 0926 HRS Vector Limited
GENERAL: VCT: Vector's focus remains on Merit Review process
The Commerce Commission's final electricity distribution price decision
released today is as expected, according to Vector's Chief Executive, Simon
Mackenzie.
"There is little change from the draft decision released by the Commission in
August 2012 and today's decision requires a reduction in our electricity
distribution prices by an average of ten percent in 2013, with a further
price adjustment in 2014.
"The Commission is making its final decision as part of the regulatory
process, however more importantly our focus remains on the Merits Appeal
process, which is well underway with a decision expected in the first half of
next year," he said.
Ends
End CA:00230471 For:VCT Type:GENERAL Time:2012-11-30 09:26:20
