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Vector hits back at Commerce Commission's proposal

| New Zealand News | Wednesday October 24 2012 18:44

Vector has come out swinging against the Commerce Commission proposal to cut the company's gas distribution and transmission price by four to five dollars.

The commission says Vector has been over charging customers.

But Vector says the decision's based on flawed methodologies and the Commission is relying on asset valuations which are nearly 10-years-old.

Chief Executive Simon Mackenzie says it's frustrating because Vector reduced prices on the Auckland gas distribution pipeline by over 20 percent in real terms from 2005.

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gas | Vector |

 

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