Former Vector customers to get $560 payout

Some 10,000-15,000 former customers of Auckland power lines company Vector are to get a payout of up to $560 or even more.

The final settlement may even be a little higher, Vector's owner, Auckland Energy Consumer Trust said today following a settlement on the distribution agreed in the High Court.

The payment of "several million dollars" is to Vector customers who were connected to Vector's network as customers on either or both September 19, 1999 and August 28, 2000, but who ceased to be customers from February 12 last year.

Applications for the payout needed to be made by the end of this month, the company said.

The trust held back $12 million from a distribution made in March last year for the purpose of making the payments.

The exact amount would vary according to length of time people were Vector customers.

Trust chairwoman Karen Sherry said the trust had been working to bring about a satisfactory conclusion for former Vector customers and was pleased this had been achieved.

"This action has taken considerable time, effort and resources on behalf of the trust - but with the matter resolved we are pleased we will be making payment to those former customers," she said.

Payment is expected to be made by the end of November.

People who had already applied to the trust for the payout and had had their applications accepted would receive a notification letter in the next few days and did not need to reapply.

- NZPA

Further reading
Feature: Electricity

Energy Efficiency and Conservation Authority