MORE DISCOUNT.

Auckland Star, Volume LXII, Issue 15, 19 January 1931, Page 3

MORE DISCOUNT.

CHEAPER LIGHTING.

POWER BOARD'S ACCOUNTS.

ALL CONSUMERS BENEFIT

AID DURING DEPRESSION

In an effort to assist its consumers during the present period of depression, the Waitemata Electric Power Board to-day decided to make rebates in its charges, approximating £2300, by way of increased cashj-diecourits. The concession, which has been granted after careful deliberations, represents half of the board's estimated eurplus for the year ending March 31 uext.

In order to put its scheme into practice and effect economy the board will postpone paying the first instalment of tho sinking fund on its i-30,000 loan until April 1 next. At its meeting this morning, it adopted the recommendation of the board in committee to this effect, together with a suggestion, emanating from llic same quarter, that the cash discount on the whole of the accounts, guarantees, and minimum charges, covering all consumers, be increased during January, February and March, 1931, from 12A per cent to 25 per cent." All services—including domestic, street lighting and industrial—will benefit from tho decision, except those relating to four special industrial contracts. "It has been decided by the board, after thorough investigation, that this is the beet means of assisting its consumers during the present strenuous times.," said the chairman (Mr. G. Trevithick), when the proposals came forward for discussion. '"Although the normal time for reviewing our charges is still two or three months off, it has been agreed to give eome of this year's surplus back to the consumers —a surplus which is reflected by the good returns for the past nine months. The amount we are giving back i* only a. temporary arrangement,, but it amounts to about'half of our estimated surplus for the'year. We believe that, the action we propose will give the relief to consumers' which they need at the present

time."' Mr. G. O'Halloran asked if the proposal to postpone, paying the sinking fund on the £30,000 loan was a departure from the board's ordinary commitments.

Mr. Trevithick said it was not necessarily so. The instalment had to be paid" some time during the year, and it. would be paid within the statutory period allowed. Mr. M. E. Thompson suggested that, as an alternative to granting extra discount to local bodies for street lighting, that an amount, of £220, representing the discount, be distributed on a, pro raia basis. After the secretary (Mr. A. Main) had explained the difficulty that would arise from this suggestion, owing to the fluctuation of the accounts, no action was taken in the matter.