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Mercury Holds Power Prices For 80% Of Customers


MEDIA RELEASE
24 February 2009


Mercury Energy Holds Power Prices For 80% Of Customers


Mercury Energy today announced the results of a pricing review which has resulted in energy prices being held for four out of five of its residential customers.

Mercury Energy has almost 300,000 residential customers across New Zealand and 236,000 will experience no change in the cost of the energy portion of their power bill. However, most will have to pay increased lines charges that are passed through to them on behalf of their local lines company.

For example, in the Vector Central network (which covers Auckland City and south to Papakura) lines charges will increase 5.3% from April 1 2009. The effect will be an overall 2.2% rise in the average bill for customers in that area.

In the Vector North area (North Shore, West Auckland and north to Wellsford) Mercury Energy will be increasing its energy price 3.9%, after holding it at the same level for the past 18 months. This will bring Mercury Energy’s pricing in the Vector North area back in line with its residential pricing across the rest of Auckland. When combined with Vector’s 6.1% increase in lines charges for this area, the effect will be a 4.9% increase in the average customer’s bill.

General Manager James Munro says, “The fact that four out of five of our residential customers will have no increase in the energy portion of their bill demonstrates that Mercury Energy is responding to the economic environment with prudence and restraint. The only electricity price rise we are making will put customers on the North Shore, West Auckland and north of Auckland on an even footing with those in Central and South Auckland. All other increases are due to price hikes from lines companies being passed through to customers on Mercury Energy’s bills.”

Area/Lines cost change/Energy cost change/% effect
on total average bill /$ effect
on average monthly bill
Vector North/6.1%/3.9%/4.9%/$6.30
Vector Central/5.3%/Nil /2.2%/$2.70

ENDS

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