VCT
28/11/2014 10:34
GENERAL
PRICE SENSITIVE
REL: 1034 HRS Vector Limited
GENERAL: VCT: Commerce Commission sets default price-quality path
The Commerce Commission's final electricity distribution price-quality path
decision released today sets the operating environment for the next five
years, according to Vector's Chief Executive, Simon Mackenzie.
"Whilst there is little change from the draft decision released by the
Commission in July 2014, today's decision requires a minor increase in our
electricity distribution prices by an average of 0.8 per cent in 2015.
"The Commerce Commission has reduced our forecast operational and capital
expenditure by 5% and 10% respectively. This is on top of the recent
reduction in the weighted average cost of capital (WACC) for our networks.
"The decision is complex and we will be looking carefully at all aspects of
it to ensure we have a full understanding of its implications.
The decision can be found on the Commerce Commission's website here
(http://www.comcom.govt.nz/regulated-industries/electricity/electricity-defau
lt-price-quality-path/default-price-quality-path-from-2015/consultation-on-th
e-2015-2020-default-price-quality-path/ )
ENDS
End CA:00258233 For:VCT Type:GENERAL Time:2014-11-28 10:34:28
