Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Transpower pulls out of Ruataniwha Scheme

Transpower pulls out of Ruataniwha Scheme

Transparent Hawke’s Bay spokesperson, Pauline Elliott, says it is not surprising Trustpower has pulled out of the Ruataniwha Water storage scheme. “This scheme has multiple levels of risk. One of them is “demand risk”. That is, how many farmers will want to buy water from the scheme and contract, over 35 years, to pay for a set volume of water, whether they need it or not. It will be expensive, and it could take 15-20 years, if ever, before full uptake is realised.

It is not clear how much of the water will be discounted, incentivised, or funded in order to reach the 40% uptake required before the scheme can proceed.

Crown Irrigation Ltd, the government irrigation fund, will consider a short term secured loan on the scheme if certain conditions are met. Like Transpower, it does not want exposure to the ‘demand risk” of equity investment.

Ratepayers will be asked to invest up to $80million in the scheme. A business case presented to Hawke’s Bay Regional Council (HBRC) by its investment company (HBRIC) on Wednesday of this week indicated that ratepayer investment will be at considerable risk with limited or no return for a number of years.

Transparent Hawke’s Bay, as its name suggests, was established to seek transparency around local government decisions. The catalyst for establishing the group was the lack of transparency around the development of the Ruataniwha Water Storage Scheme.

Even at this advanced stage, and a cost to date of $11million, ratepayers are not privy to the basic elements of a robust business case or key information around financial liability. Chair of HBRIC, Andy Pearce, stated this week that, in his opinion, such information was not suitable for the public.

Transparent Hawke’s Bay will be pursuing every avenue to ensure it is made available and that the planned public consultation will be based on all available information.

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Pacific Spying: Mass Surveillance Of NZers Confirmed By Former GCSB Director - Contradicting PM John Key

Scoop Editor Alastair Thompson Reports: Yesterday morning former GCSB Director Sir Bruce Ferguson confirmed mass surveillance of New Zealnders in the Pacific is taking place as revealed in the latest Snowden leaks investigated by Nicky Hager. In 2013 John Key told press gallery reporters that in the event mass surveillance was found have been conducted by the GCSB, he and the director of the GCSB - his childhood friend Ian Fletcher - would resign. As the controversy deepens a year and half later Fletcher has already resigned. But will Key? More>>

Gordon Campbell: Legal Fudging Of The GCSB Revelations

As many have noted, the Hager/Snowden revelations of the spying by our security agencies on our Pacific neighbours and allies is a virtual re-run of the pre-election debate. It is a situation where the government (a) stonewalls, (b) baldly asserts that mass surveillance is not occurring despite the Snowden evidence that it is, and (c) claims that the GCSB actions were lawful. Yet as Greens Co-Leader Russel Norman says, this can be true only if the legislation passed last year by the Key government has made the mass surveillance of New Zealanders – and the related handing over of their private data to the NSA – lawful. More>>

Latest:

 

PARLIAMENT TODAY:

Women's Day, March 8: It’s Time For Men To Step Up For Gender Equality

UN Women is launching the HeForShe campaign in New Zealand at the International Women's Day Parliamentary Breakfast, and is calling on New Zealand men — including politicians and community and sports leaders — to show their commitment to gender equality by signing up to this global campaign. More>>

ALSO:

Teina Pora Wins Appeal: Gordon Campbell On The Privy Council Decision

The quashing of the convictions of Teina Pora for the rape and murder of Susan Burdett in 1992 has shone a spotlight once again on a major gap in the New Zealand justice system... More>>

ALSO:

Urgent Bill Planned: MP Pay Rises To Match Public Service

Prime Minister John Key today announced an overhaul of the Remuneration Authority Act, tying MP salaries to those of the wider public sector, which will be passed under urgency. More>>

ALSO:

PM's Press Conference: MP Pay Rises, Solid Energy, Iraq

Prime Minister John Key answered questions in his Post-Cabinet press conference about the Iraq deployment, Solid Energy and National’s decision to overhaul the Remuneration Authority Act. More>>

ALSO:

Worksafe: MSD Charged Over Work And Income Ashburton Shooting

WorkSafe NZ has laid one charge against the Ministry of Social Development (MSD) in relation to the shooting at the MSD Ashburton office on 1 September 2014 in which two Work and Income staff were killed and another was injured. More>>

ALSO:

Iraq: Ex-Hostage Says Government Not Putting NZers, Iraqis First

Harmeet Singh Sooden is travelling to Iraq in the coming weeks to work with Christian Peacemaker Teams (CPT) on a short-term assignment. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news