Orion to borrow to pay for quake repairs

4:56 am on 10 February 2012

Orion is still talking to the Government about being allowed to put up power prices to cover the $70 million cost of repairing its damaged network in Christchurch.

Earthquake Recovery Minister Gerry Brownless has said he will not pass a special order allowing the company to come off its monopoly price path and increase charges.

Orion says it is still looking for a way to put up prices, but over a longer period. In the meantime, the money will be borrowed.

Chief executive Rob Jamieson says no decision has been made by the board of Orion about how prices could go.