Vector has today announced it will pass on a credit of around $20 to Auckland electricity account holders, as payment of this year’s Loss Rental Rebate surpluses. 

Loss Rental Rebates are the difference between the price and quantity of electricity generated and the price and quantity of electricity received. They are allocated via Transpower to electricity distributors around the country including Vector in Auckland. 

Vector electricity account holders in Auckland’s Entrust district will receive the credit in September as a payment alongside their annual Entrust dividend payment. 

For Vector electricity account holders outside this area, Vector will pass this credit on to electricity retailers who should then provide those customers with a credit on their power bill later this year. 

ENDS

Notes for editors

• Electricity account holders on the Vector network are eligible to receive a credit of around $20.
• The final credit amount will be confirmed closer to the distribution date.
• Loss rental rebates are the difference between the price and quantity of electricity generated and the price and quantity of electricity received, creating a difference in cost, which is only known later on. 
• Loss Rental Rebates are allocated to electricity distributors around the country including Vector in Auckland.