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CLP small print makes rebate conditional; underlying tariff increase is 8.4%
Company web site, 30-Dec-2011
"The actual amount and the eventual time period for this Rent & Rates Special Rebate will be subject to the final resolution of the case". The underlying average tariff rise is 8.4% rather than the 4.9% headlined in the press release. It is unclear whether the tariff rebate will be paid ahead of the resolution of the case, but if it is, and if CLP then loses the case, then the company will be entitled to claw it back in future tariffs. If the rebate lasts 12 months at 3.3 cents on 30.9TWh, then it is worth about $1bn.