The Prime Minister has announced that the generous discounting on power bills as part of the Economic Response Plan will be continued in May, at a slightly reduced rate.
Domestic accounts will receive a $60 discount (down from $80) and businesses that are eligible for a discount, will have their power bills reduced by 50% (down from 60%). All discounts include VAT.
The new charges will come into effect from the power readings on May 10; the new rates will stay in effect until further notice.
“The discounts to be provided to the Cook Islands people to the end of the financial year are estimated to total $11.5 million, an outstanding contribution, to keep the economy running and to provide much needed support to households” said Prime Minister Brown.
“We know that our people and companies are suffering, and with these discounts, we and government agencies like Te Aponga Uira are trying to help as best we can. Hopefully with yesterday’s announcement, the light we can see at the end of this very long tunnel is the end of the tunnel and not simply a train coming the other way.”
This latest electricity discount from Te Aponga Uira will be effective from the 10 May 2021 meter reading and has been formalised by the Te Aponga Uira Board of Directors in conjunction with Cook Islands Investment Corporation and Government.
“Te Aponga’s Phase 3 discount reflects the intention of Te Aponga’s Board and management to juggle its resources and risk in order to continue much needed support to households and businesses” said Mata Nooroa, Chair of Te Aponga Uira.
Mike Henry, Chair of the Cook Islands Investment Corporation, reiterated his previous statement and said “Te Aponga’s continued support is an example of a sustained effort from the Cook Islands Investment Corporation and its State-Owned Enterprises to support the nation, to collaborate extensively and find innovative solutions, that can be applied during these unprecedented times.”
(Source: Cook Islands Investment Corporation/06-5-21)