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  1. #1661
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    Quote Originally Posted by Beagle View Post
    For example if a company adds 25% to a $100 power bill to make it $125 (by virtue of higher unit or daily rates) and then offers a 20% discount for prompt payment to get back to $100, what remains for those that can't afford to pay the bill on time is a 25% penalty for late payment. From memory with the draft review there's about 11% of households, (which in itself is a very sad statistic) that don't pay the bill on time.
    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'.

  2. #1662
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by dobby41 View Post
    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'.
    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 ?
    Last edited by Beagle; 20-02-2019 at 12:17 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  3. #1663
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    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 .

  4. #1664
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by percy View Post
    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.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  5. #1665
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    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.

  6. #1666
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    Not much of a discount if prompt payment bonus already added to bill ............ opted out of that scam last year with PULSE

  7. #1667
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by horus1 View Post
    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.
    I am all ears as to why you think that ? Go on, humour me with the aspects of the report that are concerning.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  8. #1668
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    Quote Originally Posted by Beagle View Post
    The fact that all my supply is from 100% environmentally renewable sources adds an extra bit of sweetness to this deal.
    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."

  9. #1669
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    Quote Originally Posted by percy View Post
    So those of us who pay on time 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 .
    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...

  10. #1670
    ShareTrader Legend Beagle's Avatar
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    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

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