Stuff.co.nz report: "Dunedin council 'fleeced' Central Otago and Queenstown with $117m Aurora dividends"

Aurora news, not news to those who have been paying attention over the years of money switcheroo.

Unabridged article:
https://www.stuff.co.nz/business/industries/119352336/dunedin-council-fleeced-central-otago-and-queenstown-with-117m-aurora-dividends

Dunedin council 'fleeced' Central Otago and Queenstown with $117m Aurora dividends

Debbie Jamieson15:59, Feb 17 2020

Jo McKenzie-McLean/Stuff

Work under way on the Aurora Energy network in Central Otago after a storm in 2017.

...Dunedin City Holdings Ltd (DCHL) chairman Keith Cooper said none of the many reports and reviews about Aurora pointed to the company's dividends or financial capability as driving low network investment and maintenance.

"Rather this has been attributed to the company's asset management planning capability."

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..The proposal outlines a programme for essential investments, maintenance and upgrades, which will cost users as much as $500 each over three years....

...Cadogan's submission says the Dunedin council received dividends of $117m between 2007 and 2017, despite Aurora receiving a warning from the Commerce Commission in 2012 for non-compliance with quality standards....

... "We can only assume, based on the inequity of the proposed price regime, that the historic under-investment was worse in Central Otago and Wanaka."

He also believed it was unaffordable in a district where 7 per cent of people could not afford to heat their home and 14 per cent could only sometimes heat their home....

...There would be further opportunity for customer feedback when the Commerce Commission holds its own consultation between July and December.