In reality isn't that what all 'prompt payment' discounts are - a penalty if you don't pay on time?
Companies like it because it sounds nicer than a 'penalty'.
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Yes you could argue that. Lots more in here and I note scrapping the faux discount costs MEL $5m which I presume means per annum. https://www.nzherald.co.nz/business/...ectid=12205460 I think the issue is that companies need to take a more compassionate approach to those that can't pay on time and not levy them with artificially high penalties, but perhaps they have to pay the real administrative costs of handling late payment matters or perhaps the companies themselves have to wear the additional administrative burden as part of their business model ?
So those of us who pay ontime will pay more to cover those who don't pay on time.
The number of slow payers will increase because there is no prompt payment discount .
Yes that would happen if other companies are not forced to abandon their disingenuous discount scheme's (scams ?) but they will be forced to do that by the Govt.
More on Meridian's result here. https://www.nzherald.co.nz/business/...ectid=12205448
I am proud as a shareholder that MEL are the first to offer fair and transparent pricing and did this voluntarily and not through legislative compulsion.
Beagle , nobody gets energy any different from anyone else . It is 65 % non CO2 which is the important bit. Believe me the report is bad for the generators.
Not much of a discount if prompt payment bonus already added to bill ............ opted out of that scam last year with PULSE
Perhaps 100% but not 100% good on the environment as geothermal can put out as much CO2 as a gas-fired combined cycle plant.
"CO2 emissions for geothermal power plants are normally in the range of 10-400 g/kWh compared to 900-1000 g/kWh for oil and coal-fired plants or 400 g/kWh for gas-fired combined cycle plant. Atmospheric emissions from geothermal plants average only about 10% of the emissions from equivalent sized fossil fuel power plants."
As long there are some retailers that have prompt payment discount (for the reasons refereed to above) I can't see an issue with there being some that do. Wanting to ban all such discounts seems extremely draconian.
Although I would be happy if they rolled out such a ban out to local councils and their rates...