Yes 1H incredibly positive plenty of cash being made for MEL being long in generation compared to Competitors. Assuming rain continues to fall in the right places 2H should be even better - noting further gas outages will keep spot prices elevated and MEL should be beneficiary of likely change to transpower pricing .....
How's that? Surely, there's not much in the second paper that'd spook the horses? Anyway, this is still at consultation phase. Submissions due by 22 March and even after that it's only to deliver 'recommendations.'
Strong result as expected. Nice divvy lift, happy holder.
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
I note MEL have already scrapped so called prompt payment discounts unlike some other companies.
I can't see any issues here for the other gentailiers either.
Last edited by Beagle; 20-02-2019 at 11:09 AM.
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
I note MEL have already scrapped so called prompt payment discounts unlike some other companies.
I can't see any issues here for the other gentailiers either.
I really disagree with the scrapping of prompt payment discounts ... I think it's a mistake ... but each to their own ...
I really disagree with the scrapping of prompt payment discounts ... I think it's a mistake ... but each to their own ...
MEL's response (which I agree with) is to do away with the faux discount scheme. The concern of the review panel has been that the discounts are not genuine. 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.
I just signed up with MEL for a 3 year fixed price deal on power supply to our home in Auckland on a 15.40 cents per unit plus daily rate. Most other power suppliers were north of 20 cents per unit but offer so called discounts for prompt payment which worked out considerably more expensive after the faux discount.
The fact that all my supply is from 100% environmentally renewable sources adds an extra bit of sweetness to this deal.
Last edited by Beagle; 20-02-2019 at 12:46 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
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