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

 

Electricity investment problems remail


Electricity package tackles dry-year supply but investment problems remain

Business NZ says the Government had probably waited as long as it could before intervening to address the extreme price pressures on businesses and the threat of power shortages to all consumers.

Business NZ Chief Executive Simon Carlaw said the Government's main response to the overall situation - a centralised Commission - was not ideal, but should at last produce some movement on dry year supply and transmission constraints.

He said there was some relief that the requirements that may be put on generators to offer hedge contracts seemed relatively light-handed. "It is imperative that we get the hedge market working more actively than it has, otherwise businesses will continue to be ravaged by the spot market.

"I am pleased to see the Government has responded to our call to facilitate a demand exchange so consumers can on-sell electricity. Demand-side management is an essential part of a functioning market, but up till now has been largely overlooked given the urgency of supply issues.

"It remains critical that work be done to develop a robust, strategic, long-term plan to address the continuing uncertainties over fuel supplies and remove impediments to investor confidence. Energy is a key enabler of sustained economic growth and we should not leave the development of a secure energy future to a regulatory body that has yet to demonstrate scope of its activities or its effective relationship with the Crown."


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>