Payback for power lines


Almost 50,000 Northpower customers will get a free holiday next month without leaving their homes or businesses - a lines holiday worth between $35 and $145.

The company is to distribute more than $5 million in its second customer payout in three months. Northpower Electric Power Trust (NEPT) gave every consumer in Kaipara and Whangarei an $80 tax-free credit in December. Since 1993, $174 million have been returned to Northpower consumers by the company and the NEPT - $94 million in line holidays and $80 million in NEPT distributions.

Northpower chairman Warren Moyes said such profitability would not have been achieved without Northpower and the NEPT working so closely over the past 20 years. "The fact our trust has been so supportive of our growth strategies has given Northpower the flexibility to branch out from being solely a local lines company to one of New Zealand's leading multi-utility electrical contractors.

"Northpower is now ranked as one of the 200 largest companies in New Zealand. We have grown to become a company with annual revenue totalling nearly $250 million, which ultimately benefits our consumers."

The credits are based on energy consumption for the previous 12 months and consumers connected to the Northpower network at 6am on February 13 are eligible.

- Northern Advocate

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