The Commerce Commission has today announced a 2.9% reduction in allowable
revenue for Horizon Energy Distribution Limited effective from 1 April 2013.
Horizon Energy Chairman Mr Rob Tait said "Although this price reset
represents a significant improvement from the Commission''s draft decision in
July 2011 of a negative 9.8% price reduction, the Company is disappointed
that the Commission continues to use the 2010-2020 Asset Management Plan
which does not reflect the Company''s increased investment plans".
"The Company will review its investment plans in light of the decision and a
consideration will be made as to whether a Customised Price-Quality Path
offers the best possible solution to the business ahead of the next
The announced line charge reduction may not result in lower prices to end use
consumers due to factors outside of Horizon''s control. The Company will
assess the full impact of the decisions over the coming weeks.
For further information please contact.
Chief Executive Officer
Horizon Energy Distribution Limited
(07) 306 2900
End CA:00230509 For:HED Type:GENERAL Time:2012-11-30 13:23:14