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5 Aug 2020 5:29
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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


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