29 Jul 2008

Meridian Energy lifts prices by 6%

4:31 pm on 29 July 2008

Meridian Energy is putting up residential prices for 200,000 customers by an average of 6% from 1 September.

The increase follows rises by most other companies. The company says an average bill in Wellington of $175 per month will increase by $13.

Meridian says the increase is due to the long-term outlook for the cost of power generation and a jump in line charges by companies.

The company says the increase is not directly linked to the dry winter conditions and it has kept price rises as low as it can.

Victoria University senior lecturer in economics Geoff Bertram says the real price paid by residential users has doubled in the past 30 years, while that paid by commercial users has halved.