CHEAPER POWER RATES

New Zealand Herald, Volume LXXI, Issue 21783, 24 April 1934, Page 13

CHEAPER POWER RATES

W A ITEM AT A CONSUMERS CONCESSIONS TOTAL £3OOO HEALTHY FINANCES OF BOARD Increases of discounts to 25 per cent on various types of accounts in the current year, involving concessions totalling about £3OOO. were decided upon by the Waitemata Electric-Power Board yesterday.

Accounts which will receive benefit from the scheme are those for industrial power, alternative domestic supply, and milking motors. The discount for street lighting charges also will be increased from 20 per cent to 25 per cent, and the discount in the existing agreement for the Devonport Borough Council's water pumping station will be increased from 12 i per cent to 25 per cent. Some of the changes will take effect from April 1 and others from June 1. "Last year we rebated over £7OOO to consumers and although it was felt the board had taken a financial risk, it factually concluded the year with a net profit of £2000," said the chairman, Mr. W. R. T. Leighton. The board now had reserves totalling £122,486, on a raised capital of £390,500, which after only eight years of operation was more than satisfactory. A sum of £16,939 had been added to reserves in the past year. About SO per cent of the consumers benefited last year as a result of a substantial reduction in the lighting rate and it was considered further benefits should be passed on to industries and services which most deserved them, "With the increased discount, the alternative domestic supply rate, under which in the main all cooking, power and heating units will be charged at Jd a unit net, will now equal the rates charged for this service by the Christchurch and Wellington city electricity undertakings, which enjoy the reputation of having the lowest domestic rates south of the line," added Mr. Leighton. "The operations of the board for the 12 months ended March 31. 1934, exceeded nil estimates," stated the manager, Mr. A. Main, in his report. In that period 600 new consumers were connected and 220 stoves. 116 waterheaters. 78 milking motors, and 407 industrial horse-power were added. The total gross sales of current for the year amounted to £89,231, as against £88.755 in the previous 12 months, an increase of £476.

Gratification with the soundness of the board's position and the proposed concessions to consumers was expressed by members, and tributes were paid to the work of the manager and s,t"afL