Waikato lines provider WEL Networks will reduce the cost of delivering power to local households for the second year in a row.
Last year the company reduced its residential lines charges by $6m providing an average saving of $77 to residents, with an additional average reduction of $70 forecast for the year ahead. This complements a move to provide $20m per annum to be invested into the community via shareholders, WEL Energy Trust.
Chief Executive Garth Dibley says the reduced tariffs and increased community investment follow the end of the electricity discount programme in 2018, and is a fairer way of distributing funds to help our communities 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’s strong focus on social investments which will benefit the Waikato region.”
Lines charges make up approximately 25 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.”
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 reduce their power bill even more.