Transpower credit rating might be downgraded...
as if anyone should care...
You'd think a state-owned monopoly which has a legislated cost+ charging scheme might not give a fig about S&P rating but apparently not. What on earth an S&P rating has to do with a monopoly is beyond me, isn't this just a form of extortion on helpless consumers?? I wonder if the downgrade is at all related to the fact that Transpower has grossly exceeded its cost+ income over the last couple of years to the tune of $120 million.
Bring on the downgrade, and consumer watchdogs aren't evil, in fact, i'd argue that some teeth and a little tenacity on their part would do wonders for our little country.
You'd think a state-owned monopoly which has a legislated cost+ charging scheme might not give a fig about S&P rating but apparently not. What on earth an S&P rating has to do with a monopoly is beyond me, isn't this just a form of extortion on helpless consumers?? I wonder if the downgrade is at all related to the fact that Transpower has grossly exceeded its cost+ income over the last couple of years to the tune of $120 million.
Bring on the downgrade, and consumer watchdogs aren't evil, in fact, i'd argue that some teeth and a little tenacity on their part would do wonders for our little country.
posted by Joe at 12:22 PM
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