The Honourable Mark Brown, Prime Minister, today announced Te Aponga Uira’s support under Phase 3 of the Economic Response Plan.
The Prime Minister said “the Te Aponga Uira Phase 3 Rarotonga electricity support involves every household connection being credited for their electricity costs up to $80 each month and every business who currently receives or is eligible to receive government support, will continue to receive a 60% discount, for a further 3 month period.. Te Aponga’s Phase 3 discount is recognition that the borders remain closed and 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.”
The Phase 3 electricity discounts from Te Aponga Uira (TAU) effective from the January 2021 meter reading, until the March 2021 meter readings (expected to be completed on 21 March 2021), has been formalised by the TAU Board of Directors and aligns to Phase 3 of the Government’s Economic Response Plan.
Approximately $12m of savings is now being granted to Rarotonga households and businesses by Te Aponga across Phases 1 through to 3, an outstanding contribution, to keep the economy running and to provide much needed support to households.
Mr Mata Nooroa, Chair of Te Aponga Uira, said “Te Aponga has experienced significant reduction in its sales along with the majority of businesses over the past year. We have been in a fortunate position to be able to draw down on reserves accumulated for times like these and reprioritise our significant capital investment plan to only the most core infrastructure required to keep electricity reliable for Rarotonga. In doing so, we have been able to heed the call from our shareholder and these discounts represent Te Aponga’s way of continuing to give back to help the nation during these continuing challenging times.” Mr Michael Henry, Chair of the Cook Islands Investment Corporation, said “Te Aponga’s continued support is an example of a continued concerted effort from the Cook Islands Investment Corporation and its State Owned Enterprises to support the Nation, to collaborate extensively and find innovative solutions, required during these unprecedented times.”
