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

 

Energy Commission promises higher prices

Gerry Brownlee National Energy Spokesperson
28 October 2003

Energy Commission promises higher prices for consumers The Electricity and Gas Industries Bill tabled today by Pete Hodgson means that consumers will be paying twice for reserve generation, says National Energy Spokesperson Gerry Brownlee.

"This bill will lock up the New Zealand energy industry in a very large bureaucracy, which will effectively cut the private sector out of the provision of generation.

"Worse still, the bill allows line companies to own reserve generation without limit. Line's companies are largely consumer trusts, whose wealth is accumulated from the distribution of electricity.

"Most have very strong balance sheets, and this is an attempt by the Government to have costly reserve generation which may operate only in one in 60 dry years paid for by consumers. This will affect the proposals to cap lines charges and mean a higher line charge component in consumer's bills on top of the electricity tax announced earlier this year.

"This legislation is a classic example of why regulation almost always leads to higher prices," Mr Brownlee said.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

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: