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

 

What Business Needs - Electricity Crisis Meeting

What Business Needs From Today's Electricity Crisis Meeting

Business New Zealand Chief Executive Simon Carlaw says businesses have some key outcomes they want from today's electricity crisis meeting.

The first is information. There is a lack of transparency in the generators' price-setting process, with no adequate explanation for the recent extreme spikes in spot prices. Decisions to push up prices by hundreds of percentage points at short notice need more justification than is currently given.

The second is a plan of action to deal with the current crisis now. With the good will of all players, this is possible. Droughts impacting elsewhere have been successfully managed by the involvement and contribution of many sectors.

Thirdly, we need to start looking longer term at the structure of the energy market, so we don't get into this mess every time there's a dry winter. We don't want price controls - that leads to situations like in California. But we do want an improvement to the electricity market structure.

The electricity reforms need to be revisited with the full force of hindsight. There are now fewer players than the structure was designed for, and the way the market is operating at present is not what the economy needs. There are a number of possibilities for getting better competition in the electricity market, and today's meeting should start considering them.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

20,000 Still To Go: MPI Releases Imported Apple And Stonefruit Plants

Around 20,000 apple plants and 400 stonefruit plants imported from a US testing facility have been released from all restrictions, says the Ministry for Primary Industries (MPI). More>>

ALSO:

Space: They Landed Robots On An Asteroid

On September 21, the small compact MINERVA-II1 rovers separated from the Hayabusa2 spacecraft... both rovers landed on the surface of asteroid Ryugu. The two rovers are in good condition and are transmitting images and data. More>>

RNZ: Court Of Appeal Rejects NZME-Stuff Merger

The Court of Appeal has turned down the proposed merger between media companies NZME and Stuff... The Commerce Commission had turned down the merger because of concerns about concentrating too much commercial and editorial power in one organisation. More>>

ALSO:

Cut Before Using: Australian Strawberries Withdrawn

Needles were found in a punnet of strawberries sourced from Western Australia, which was bought in a Countdown supermarket in Auckland. The Choice brand of strawberries was sold nationwide last week. More>>

ALSO: