Transpower criticised over price

The Employers and Manufacturers Association has hit out at price rise proposals from state-owned grid operator Transpower.

Transpower and its electricity partners had sought Commerce Commission permission to raise their prices so they could guarantee themselves an almost 12 per cent pre-tax, risk-free return on capital to upgrade the grid, association chief executive Alasdair Thompson said yesterday. "The price increases being sought are grossly unreasonable."