Vector should pay adequate compensation
20 Feb 2009
“There is a sense of irony when Vector yesterday announced handsome profits at a time when most businesses are struggling in the new economic environment, and then today because of a failure on Vector’s power network many businesses in Newmarket have suffered material financial losses,” said Ralph Matthes, executive director of the Major Electricity Users’ Group, yesterday.
He was commenting on the half year financial profit result of $90.8 million announced by Vector yesterday and the unexpected two-hour power failure today that affected many businesses such as cafes and restaurants relying on lunchtime trade.
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