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

 


Electricity Action - Please Get On With It

18 April 2002

Businesses are worried about electricity, says Business NZ.

Chief Executive Simon Carlaw says there's been no action by either power companies or the Government to head off a possible repeat of last winter's power price blues.

"Ominously, lake levels have started tracking downwards in a similar pattern to this time last winter. Spot prices have jumped again in the last two weeks. And those companies whose electricity contracts are coming up for renewal are finding the new contract being offered is much more expensive than the last.

"There's no silver bullet to get prices down, but there are a range of moves that could help. The recommendations that came out of last year's winter review (1) for example, or Dr John Small's proposals for a mandatory hedge market (2) - these could make hedge contracts more readily available and could put downward pressure on prices.

"But there appears to be no move by either the power companies or the Energy Minister to begin to implement them in a timely way," Mr Carlaw said.

"The Minister of Energy and the power companies were also working on a cross insurance plan to make more electricity supply available - but there's still no indication of anything tangible here either.

"Businesses do not want to face another winter of cripplingly high electricity costs. They need prompt action. The onus is on the power companies and the Energy Minister to come up with it."

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news