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

 

Electricity campaign won’t reduce prices

MAJOR ELECTRICITY USERS' GROUP


Friday, 27 July 2001

For immediate release

Electricity campaign won’t reduce prices


A Government campaign to encourage lower electricity use has been welcomed by the Major Electricity Users Group (MEUG), but it says the campaign will not immediately do anything about the extraordinarily high prices currently harming the economy.

Terrence Currie, Chairman of MEUG, said a conservation campaign was only one part of the answer to reduce the crisis, which was a combination of low hydro inflows, high prices and an uncompetitive market.

“This is a crisis that won’t be fixed just by conservation – we need the government and energy industry to manage the market to ration power at a price everyone can afford.

“We are looking forward to the second summit on Tuesday to address these remaining issues,” Mr Currie said.

He said high prices and lack of competition has already cost the economy many millions of dollars.

“Some generators have been making huge profits at the expense of New Zealand businesses, and the electricity retailers who do not have enough supply.

“Even if a conservation campaign works, we will emerge from this crisis with a discredited wholesale electricity market. Consumers once again have been traded as chattels.

“The Government must ensure that there is an urgent review of the electricity markets performance,” Mr Currie said.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO: