12 March 2002

Extortion Alive And Well In The Energy Business – Peters

Member of Parliament for Tauranga and Leader of New Zealand First, Rt Hon Winston Peters, has today slammed the inaction of the Energy Minister, Pete Hodgson for being long on words but short on activity.

“In my Tauranga electorate, and I’ve no doubt in may other communities throughout New Zealand, businesses and households are being subjected to extortion in the guise of market forces, cranking up electricity costs,” said Mr Peters.

“Businesses in Tauranga are being informed that their electricity is to rise in excess of 33%” he said.

“This is an intolerable situation for our country and these foreign owned tycoons who are setting about to strip New Zealand businesses of one of their marketing advantages, cheaper electricity, must be stopped.”

“There is no justification for such inordinate price hikes at this time and unless companies like Contact Energy (which was sold by National in 1998) can be brought to heel, and stopped from jacking up costs in concert with their so called competitors, we will see many businesses fail,” Mr Peters said.

“My message to Energy Minister Hodgson is: come home from New York and tend to the energy price crisis that is developing under his nose in New Zealand,” concluded Mr Peters.

ENDS

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