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

 

Grey Power welcomes pipeline price control

30 August 2005

“Don’t stop now!”

Grey Power welcomes pipeline price control

Gas pipeline owners Vector and Power Co are the first energy sector companies for some years to feel the regulatory fist of the Commerce Commission backed by new energy minister Trevor Mallard.

Starting this October, Vector must reduce their prices by almost ten per cent and Power Co by nine per cent. “More importantly,” says Grey Power board member Don Robertson, “last week the minister unequivocally ordered Contact and Genesis to pass all the savings back to the consumer.

“Grey Power welcomes this overdue price control on behalf of the long suffering consumer,” Mr Robertson says. “Against the background of excessive electricity price increases - forecast to climb higher still, we urge Trevor Mallard to apply the same tough stance to power companies.

“The increasing profits of power companies are obscene,” he says. “Their prices are already beyond the means of many superannuitants and low-income Kiwis.

Mr Robertson says the “annual cost price adjustments to the level of New Zealand Superannuation are applied retrospectively and are lost before they hit the pockets of the retired.”

“On a list of five major concerns for Grey Power members, electricity price control is number one,” he says.

With more than 90,000 active members, Grey Power is recognised as a leading support organization for many of the three-quarters of a million retired New Zealanders. Grey Power maintains strict neutrality during the election campaign, but will respond with support and information that may affect its members.

ENDS

© 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>>