Waikato lines provider WEL Networks will reduce the cost of delivering power to local households for the third year in a row.
For the year beginning 1 April, residential lines charges were reduced by $5.1 m providing an average saving of $63 per year to residents.
General (small business) lines charges have also reduced by $2.1m and large commercial lines charges have been reduced by $2.7m for the year ahead.
WEL Networks Chief Executive Garth Dibley says the reduced residential and business tariffs further enables our Waikato communities to thrive.
“We’re working towards creating an innovative energy future which includes constantly reviewing how we can deliver cheaper energy prices and provide greater returns to our customers. We’re also fully supportive of our shareholders, WEL Energy Trust, and their strong focus on social investments which will benefit the Waikato region.”
Local lines and national transmission charges make up approximately 40 per cent of a household electricity bill and are charged via retailers, based on each customer’s usage.
Garth encourages people to review their power bill and contact their power retailer for more information if they can’t see an obvious shift in cost.
“It is at the individual retailer’s discretion how this saving is passed through to customers, but it is hoped people will be experiencing some relief, especially with the current uncertainty surrounding Covid-19 and the effect the lockdown is having on our communities.”
Garth says while WEL and the Trust are taking steps to help reduce energy hardship in the Waikato community there are other ways for residents to further reduce their power bill.
“Check out www.powerswitch.co.nz, a free service that helps you work out which power company and pricing plan is best for your household.”
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