Saturday, 01 November 2014

Announcement

GENERAL: HED: Horizon Energy Comments on Commission''s Draft Decision

22 Aug 2012 16:25NZX
Following receipt of the Commerce Commission''s draft electricity distribution
default price decision to reset prices charged by electricity distribution
businesses, Horizon Energy Distribution Limited Chief Executive Ajay Anand
responded to say that "Horizon Energy would review the information released
from the Commission and would make further submissions to the Commission
regarding some aspects of the proposed price reset. The reset will apply to
prices charged from 1 April 2012 to 31 March 2015".

"While there is some improvement to our financial position from the
Commission''s original draft price reset proposal, there are still some areas
where we are disadvantaged as a result of assumptions that will have a
negative impact on our revenue during the balance of the regulatory period to
2015" said Mr Anand.

Mr Anand said, "We look forward to engaging with the Commission in its
upcoming questions and answers workshop on the modelling underpinning the
draft decisions later in August, in order to better understand the
Commission''s rationale".

The Commission have announced they will make a final determination on the
reset of the 2010-15 Default Price-Quality Path by 30 November 2012.

For further information, contact:

Ajay Anand
CHIEF EXECUTIVE
Horizon Energy Distribution Limited
07 306 2901
021 272 7956

END
End CA:00226301 For:HED    Type:GENERAL    Time:2012-08-22 16:25:08
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