TLC changes discount policy
5 March 2020
From 1 April 2020 The Lines Company (TLC) will drop its prompt payment discount.
TLC has decided to discontinue its prompt payment discount and will now automatically incorporate this discount into customers’ bills.
TLC chief executive, Sean Horgan, said We’re simply including the prompt payment discount into the prices on bills – so the discounted price will now apply to every customer.”
The decision to drop the discount was made by TLC to help make billing simpler and more transparent for customers.
It also aligns with a recommendation to the industry from the Electricity Price Review late last year to remove all prompt payment discounts.
Horgan said TLC was happy to simplify bills and support the government’s recommendation.
“We are constantly reviewing our pricing and it’s clear that over 90 per cent of our customers pay on time so it makes sense to us,” he said.
From April 1 this year, TLC will incorporate its prompt payment discount into prices. At the same time the company will introduce a late fee of $11.50 per bill (plus 3% per annum for overdue balances over $1000).
“We anticipate the late fee will impact a very small number of customers and we will continue to work with them to help ensure they can take steps to pay their bill on time,”
Horgan said. “It’s in our interests and in their interests for us to do so.”
“In the meantime, we’ll continue to work closely in the community through initiatives such as Maru to support those who need it the most.”