Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Call For Urgent National Power Saving Campaign

Businesses facing contract renewals for their electricity supply are in deep trouble, the Employers & Manufacturers Association says. Competition in the electricity market is now virtually non-existent with the price of power peaking 500 per cent higher than a few months ago.

"It's frightening that there is no theoretical or practical limit to how high the price of power can go," said Alasdair Thompson, EMA's chief executive.

"New Zealand must embark immediately on an incentivised national power saving campaign.

"A survey we undertook of our members and other information shows that when businesses power supply contracts come up for renewal they are being told they have to pay anywhere from 30 per cent to 500 per cent more for power.

"They are told they have to pay the extra for the next two to three years, regardless of any change in conditions that may occur in the meantime.

"Several retailers have withdrawn from the market, including Meridian, Trustpower and On Energy.

"Mighty Power and Genesis are telling their customers to take what they're offered, or pay the spot price. The spot price is fluctuating up to five times the price of a few months ago and five times higher than last winter.

"The state owned power companies are benefiting hugely; the Government's accounts will be pumped up as a result.

"Minister Hodgson is still in the mode of blaming the previous Minister for the problem. His assurances that all will be well when his new legislation comes into effect does nothing to help firms caught now with their contracts up for renewal.

"Some businesses are being forced into loss situations because of the crisis. One modest sized company we know of has been told to pay $100,000 more. Larger companies face larger penalties. Damage is occurring to new investment projects.

"Government has a political issue of the first magnitude on its hands. Political action is called for. We support the proposal for an urgent summit for the power industry and for a major power saving campaign.

"As there's no limit to how high wholesale electricity prices could go, it is quite possible New Zealand could suffer the brown and blackouts that California experienced in the last northern winter, but in our case a national disaster would ensue."

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO:

Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>

ALSO:

Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>

ALSO:

 
 
 
 
 
 
 
 
  • Bill Bennett on Tech