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11 Aug 2020 18:32
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  •   Home > News > Business

    The nation's 30 power companies are calculating where electricity prices will go when Rio Tinto closes the doors on its Southland smelter at Tiwai Point

    The nation's 30 power companies are calculating where electricity prices will go when Rio Tinto closes the doors on its Southland smelter at Tiwai Point


    The company's announced it will wind up operations at its aluminium smelter in August next year - blaming mainly high power costs and poor sales outlooks.

    Electricity Retailers' Association acting CEO Mike Munro says the closure's effect on demand and transmission capacity, won't be known for a year.

    He claims a competitive sector has resulted in the annual average household power bill dropping by about 150 dollars since 2015 - despite demand increasing.

    Munro says power bills are at their cheapest level over the past 11 years.

    © 2020 Newstalk ZB, NZCity


     Other Business News
     11 Aug: Fletcher Building says it's in a good spot to weather any more possible storms of Covid-19
     11 Aug: Fletcher Building expects a net earnings loss of 196-million dollars for the year to the end of June, mainly due to the impacts of Covid-19
     11 Aug: Don't wait for a trigger to seek financial advice
     10 Aug: A new report shows pokie gambling in New Zealand pubs and clubs, is costing the retail sector more than 400-million dollars a year
     10 Aug: More turbulence on the horizon for Kapiti Coast Airport, which is once again at threat of closure in the wake of Covid-19
     10 Aug: It might not be all bad for the South - when the Tiwai Point aluminium smelter closes
     09 Aug: Auckland's Watercare dams are still 25% below their usual storage levels for this time of the year
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