Photo: ODT filesThe boss of one of the country’s biggest power companies has lifted the lid on unfair penalty payments and admits the industry has “dirty secrets” that needed calling out. Meridian Energy chief executive Neal Barclay says the power industry hasn’t been fair to New Zealanders and explained why his company was ditching prompt payment discounts. They are penalties charged for late payment of bills, and they hurt those who genuinely struggled to pay for their energy the most. That’s unfair by any definition.”Meridian, the country’s biggest power generator and 51% owned by the Government, said the penalties generated revenue of $5 million. A final report, including recommendations on how to reform the industry, was due in May next year.

Source: Otago Daily Times October 07, 2018 19:30 UTC