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2015 / 2016 Discount

24/02/2016
2015/16 Discount
 
In March a total of $9.26m (including GST) will be paid to electricity retailers for distribution to customers connected to the economic areas of Marlborough Lines’ network.

The amount of discount will vary depending upon the energy consumption of individual customers, but a typical domestic customer as defined by the Ministry of Business, Innovation and Employment using 8,000kWh per annum will receive a discount of $226.38 (including GST).

The amount of the 2016 discount takes the total of discounts paid to Marlborough Lines’ customers since 1999 to $111.64m (including GST).

Yealands Investment will Result in Increased Distribution
 
Subsequent to Marlborough Lines’ investment in Yealands Wine Group the company has exceeded its financial projections for the first six months of its financial year.

Consistent with advice from Marlborough Lines at the time of acquisition, the electricity consumers of Marlborough will benefit from this investment and will be paid an increased amount later this year.

It is our expectation that the distribution to be paid via the Marlborough Electric Power Trust will be in the order of $150 per customer, an increase of $100 per customer directly resulting from the Yealands investment.

Going forward it is our expectation that this amount will further increase.

Marlborough Lines’ investment in Yealands Wine Group has been made at no cost to Marlborough’s electricity consumers and has been funded from Marlborough Lines’ investment success in electricity networks external to Marlborough.

The returns from Yealands will exceed those of an investment in an electricity network and aside from annual dividends Yealands provides the opportunity for capital growth.

Marlborough Lines is proud of its investment in Yealands Wine Group and is pleased that it will provide ongoing benefits to the electricity consumers of Marlborough.

Ends.

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