HORIZON ENERGY CONCERNED ABOUT THE IMPACT OF THE COMMISSION’S

Whakatane based Electricity Distribution Business, Horizon Energy Distribution Limited (‘Horizon Energy’), has reviewed the Commerce Commission’s (‘Commission’) 19 July 2011 draft decisions paper on the 2010-2015 Default Price-Quality Path for Electricity Distribution. It is apparent that the decisions if enacted in the present form will reduce Horizon Energy’s revenue from 1 April 2012 by approximately $1.4M. (Refer to attached document).