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

 


West Wind Powers Wellington

West Wind Powers Wellington

“Today Wellington’s wind will finally be put to good use, delivering significant benefits to the Wellington region,” says Fraser Clark, Chief Executive of the New Zealand Wind Energy Association.

“Wellingtonians are well aware of the energy in Wellington's wind. From today, Meridian Energy’s Project West Wind - New Zealand’s newest wind farm - will harness this strong and consistent resource to make a tangible difference to security of electricity supply,” says Mr Clark. “Project West Wind will supplement existing generation sources and its output will provide a natural complement to hydro generation.”

“Wind energy also helps to ensure electricity remains affordable. The low and well-understood cost of operating a wind farm provides generators with confidence in the cost of generating electricity well into the future. It also provides a valuable hedge against the variable costs of other forms of generation,” says Mr Clark. Forecasts released last week by the Electricity Commission show the price of gas for electricity generation doubling by 2020. Gas generation will also be subject to a price on carbon emissions when the energy sector enters the Emissions Trading Scheme.

“Wind farms also create important benefits such as reduced transmission losses and the suppression of spot electricity prices.” Analysis presented at last week’s Wind Energy Conference suggested that generation from the Manawatu wind farms reduces average spot electricity prices by $10/MWh.

“It is pleasing to see Prime Minister John Key support and acknowledge the success of Project West Wind today.

“However, many other locations throughout New Zealand have a similar potential for wind generation. Without strong political support for renewable energy, New Zealand will not fully realise wind energy’s benefits,” warns Mr Clark. Over 900 megawatts of wind energy capacity is consented, and developers are seeking consent for another 2000MW. World-wide, wind energy is now one of the leading forms of new electricity generation.

“Despite this significant consenting activity, there have been no announcements regarding the construction of any other major wind farms since work began at Project West Wind.

“We need a clear and stable policy and regulatory environment to give wind farm developers confidence in investing in new generation.”

Energy Minister Gerry Brownlee announced in March the Government’s intention to review the New Zealand Energy Strategy, and several other reviews affecting the energy sector are underway.

“Certainty regarding the future of the Emissions Trading Scheme is essential to encourage investment in new projects. Clear recognition of the benefits of wind energy in the New

Zealand Energy Strategy and action to improve transmission capacity is also required,” concludes Mr Clark.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news