Aurora - "How ya getting on with the changes Deloitte recommended?" - Sid Scales cartoob

A wry smile before the Aurora Oct.29, Nov.16 "progre$$ reports"from ODT. 
Richard Healey posted this reminder on facebook. Sorry about all the background grey. I couldn't cut it away.

Otago power consumer price hikes in pipeline

Hamish McNeilly11:42, Nov 16 2019

..........This year the company recorded a net operating loss of $10.9 million, including a $5m provision for potential financial penalties prompted by a Commerce Commission investigation.

......

The company's annual report noted it was required to complete a CPP [customised price-quality path], given the level of future network investment it was proposing.

Aurora last year announced it would invest $748 million over 10 years on new developments and to upgrade its ageing infrastructure, including replacing old power poles and other ageing infrastructure across the province.

The company hit headlines earlier this year over ballooning costs and salaries.

The company's annual report – released by Dunedin City Holdings Ltd, an investment company owned by the council – revealed 48 employees were paid more than $100,000 a year, including six paid more than $200,000.

https://www.stuff.co.nz/national/117459297/otago-power-consumer-price-hikes-in-pipeline?cid=app-iPhone

Tuesday, 29 October 2019

DCC investigating Aurora progress again

....Council chief executive Dr Sue Bidrose announced today it had commissioned a consultancy company to carry out a follow-up report to check on Aurora's progress implementing sweeping changes recommended by Deloitte in 2016.
The recommendations by Deloitte - which included splitting from sister company Delta which it has done - came in the wake of accusations it had let its assets, including power poles, become dangerously decayed.
Aurora is now planning to spend nearly $750 million upgrading its network over the next decade.
Dunedin City Holdings Ltd chairman Keith Cooper told councillors earlier this year Aurora is forecast to lose $33.8 million over the next two years..... https://www.odt.co.nz/news/dunedin/dcc-investigating-aurora-progress-again

Comment on ODT site

OtagoIdeas Tue, 29/10/2019 - 3:28pm #

Maybe the DCC can sell some of its out of town assets? to cover the costs, why not all of them? instead of jacking up our rates to pay for someones' poor planning, including eg. spending the cash pot ($80m on the white elephant) and borrowing ever larger sums for the white elephant ($220m) just to mention one. Or others; cycle paths, a bridge to nowhere, Sammys, parklets, micro parks, etc. Prioritise core services, not nice to haves, but that is asking a lot from a tax and spend crowd.