New Zealand's state-owned power grid operator, Transpower has said that it is looking forward to increase price of electricity. This will be a double-digit growth and is being done since this money will be used by the company to meet its payment requirement in $5.3 billion infrastructure plan.

The plan is expected to become operational in the next five years time. Talking about the issue, CEO of the company, Dr Patrick Strange said that the double-digit increase will not be done immediately and that the customers can expect some years before it is done.

The increase, he said, also comprises of 1 per cent raise that was done in April 2010 and 4.5 per cent increase that happened in 2009.

Whatever rates being said by Transpower now, it will first need the approval of the Commerce Commission.

Presently, 8 per cent of the transmission charges are added in the residential and commercial power bills. Some forecasts show that it will not cross 10 per cent mark in the next 10 years even if the proposed double-digit raise is done.

The decision on this is expected by the end of this year.