Electricity discount to land before Christmas
4 December 2023
Customers in the northern part of The Lines Company (TLC) network will receive their share of a $2.5 million electricity discount before Christmas.
The money makes up the first payment from the total $4.3 million (GST exclusive) payment to Waitomo Energy Services Customer Trust (WESCT) customers paid out this financial year. The discount payment will appear as a credit on December electricity retailer accounts.
How much each customer receives is based on their price plan and TLC’s billing between April 1 – October 31 this year.
Money for the twice-yearly discount is provided from TLC earnings to WESCT customers as the ultimate owners of TLC. Chief executive Mike Fox said he was very pleased the company was able to return a healthy discount to the Trust despite a demanding year.
“We take a lot of pride in the fact TLC is a community-owned company,” Fox said. “Most of our staff live on the network and we all have very strong connections here. So to know that earnings are going directly back to WESCT customers and then onto the community in the form of this discount is important to us.”
TLC worked hard to support a wide range of community organisations and individuals across the entire network via community grants, sponsorships and other programmes.
“We’re completely committed to Maru Energy Trust and to investing in new technologies which will benefit the wider community in the long run. We have a lot of things on the go in the community space as well as doing our core work,” Fox said.
“Since January this year, we’ve invested close to $14 million in the network to make sure our assets are in good condition and that our community stays connected and is ready for the future.”
WESCT chair William Oliver said the role of the Trust was to promote and encourage an efficient and reliable electricity distribution system throughout the district. WESCT worked closely with TLC to help set priorities, he said.
“TLC has a role in helping us grow economically and in ensuring we have thriving and healthy communities. In the last four financial years, including this year, the company will have paid out more than $16 million to WESCT customers via discounts directly to their electricity bills.”
“That’s the value of TLC being community-owned but it’s more than that. It’s about making the right investments at the right time and in a way our community can afford. I’m really pleased with the investments being made and the way assets are being planned and managed by the company.”
The next TLC discount will be processed in May 2024.