Commerce Commission draft decision to reopen Aurora Energy’s expenditure allowances

Aurora Energy Chief Executive Richard Fletcher acknowledges today’s draft decision by the Commerce Commission to approve additional capital expenditure to meet the higher-than-expected rate of consumer connections to its electricity network and increased consumer driven electricity demand.  

“The rate of new connections to the Aurora Energy network, in Central Otago/Wānaka and Queenstown, has been much higher than both the company and the Commerce Commission forecast when the company’s regulated annual expenditure allowances were set in 2021, post the COVID-19 peak. The regulatory rules permit Aurora Energy to apply for a reopening of its five-year revenue path and an application was submitted to the Commerce Commission in December 2023,” he said.

“Our application has been subject to considerable scrutiny to ensure the expenditure is prudent and in the long term interests of Aurora Energy’s consumers.”

Mr Fletcher said the Commerce Commission is consulting on its draft decision with submissions due by 5pm on Thursday 7 November 2024.

Additional information: Commerce Commission - Aurora Energy’s CPP and enhanced information disclosure requirements