Giving retroactive value to purchases from the earlier date.
In the context of corporate governance, the illegal practice of setting the date of options awarded as part of executive compensation to a period when the stock price was very low (rather than setting the date of the options on the date the award was made).
Spark’s CEO for Home, Mobile and Business, Jason Paris, said he was extremely disappointed about the need for Spark to increase prices.
Spark said today it will raise prices for some of its broadband and landline plans from 1 February 2016.
This is a result of this week’s Commerce Commission decision to significantly hike regulated Chorus line charges for copper broadband and landline services.
Home landline customers outside the three main centres will not receive any credit but their prices will not be increased in February, despite the cost of higher Chorus lines charges Spark will face.
ADSL / VDSL customers on Unlimited plans will also not be eligible for a savings credit, as their plan prices did not increase earlier this year and instead were reduced by $10 a month.
However, this regulatory decision means a significant and unexpected increase in our underlying costs, so unfortunately we have been forced to reflect these costs in our customer pricing.” Paris said the decision not to backdate when the new higher Chorus line charges came into effect was the only sliver of good news in the Commerce Commission’s decision.