Regional Mayors on Vector sale
The four Wellington mayors whose communities are affected by the sale of Wellington’s electricity network are anticipating a good working relationship with new owners Cheung Kong Infrastructure Ltd, if the purchase is allowed to go ahead.
Today the Porirua City, Wellington City, Hutt City and Upper Hutt Mayors sought to allay fears the sale may spark power price rises or a drop in service, saying they would monitor the effects of electricity pricing and service delivery on the wellbeing of their communities.
“The sharp rise in the price of many household basics such as food and fuel has placed a lot of stress on families. I can understand why people may be feeling vulnerable with this change in ownership; especially as we come into winter time – a period of high household electricity use,” says Upper Hutt Mayor Wayne Guppy.
If the Overseas Investment Office gives the sale the go-ahead, the mayors expect the government’s regulatory and commercial agencies to ensure New Zealand benefits from the deal.
Porirua City Mayor Jenny Brash says the Electricity Commission is tasked with ensuring consumer rights are protected.
“We are disappointed to see Vector leave this market as they invested not only in the Wellington economy through their network business but also in arts and community organisations, such as the orchestra and Project K.”
However, the mayors observe that the arrival of an experienced and substantial infrastructure business into the Wellington region is not necessarily cause for concern, if it plans to invest over the long-term.
Wellington Mayor Kerry Prendergast says the arrival of Cheung Kong Infrastructure Ltd, as a major Wellington-based corporation, presents more opportunities than issues at this stage and will be welcomed by the region.
Hutt City Mayor David Ogden agrees: “As a region we’re looking forward to establishing a solid long-term relationship with them.”
The mayors will be working to arrange a joint meeting with the company’s executives.