Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Comparative report on SOE electricity generators

Media release - Commerce Committee

Select committee presents comparative report on
State-owned electricity generators

2 April 2001

“Today the Commerce Committee presented a comparative report to the House on the 1999/2000 financial reviews of Genesis Power Limited, Meridian Energy Limited and Mighty River Power Limited”, said Chairperson David Cunliffe.

The committee reported on the following matters:

- Financial performance by the State-owned energy companies was mixed. Meridian performed strongly, Genesis’ financial performance was in line with its business plans and Mighty River performed below forecasts.

- We questioned the companies about the potential return on equity ratios for different gearing levels and requested further information.

- We considered the issue of transmission constraints in the central North Island and will pursue this issue further in our forthcoming financial review report of Transpower.

- We have concerns about the potential amount of electricity generation lost through hydro spill and its potential effect on economic efficiency and the environment, including New Zealand’s ability to meet targets to be set up by the Kyoto Protocol.

- We are concerned about continued switching problems being experienced by certain retail customers. Switching systems and protocols are inadequate, require more attention and we urge the industry to work together on this issue.

- We are very concerned that retail customers of State-owned energy companies continue to be experiencing billing delays and problems, and will monitor developments.



- We are concerned at the relatively low levels of customer satisfaction across the industry. We expect to see improvement in the near future and will be actively monitoring progress against performance targets.

- We consider that reporting standards between the three State-owned energy companies in relation to environmental impact reporting and customer service performance are variable and believe that there is room for improvement.

The report is available from the Bills Office (Members and Press Gallery only) or committee staff. Transcripts of oral evidence are attached to the report, which can be viewed on the Parliamentary website.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

PM Announces Royal Commission Into Christchurch Attacks

Prime Minister Jacinda Ardern has announced that there will be a Royal Commission of Inquiry into security agencies following the Christchurch terrorist attacks... The inquiry will look at what could or should have been done to prevent the attack, Ms Ardern said. More>>

Gordon Campbell: On Ridding The Net Of White Supremacist Propaganda

Although it won’t be a walk in the park, gun law reform will be an easier job than neutralising the Internet hate content that (a) recruited the Christchurch shooter, and (b) confirmed him in his beliefs. More>>

Friday: National Remembrance Service

A National Remembrance Service for the victims of the Christchurch mosques terrorist attack, and all those affected by it, will be held at 10am on Friday 29 March, Prime Minister Jacinda Ardern announced. More>>

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK
For the Latest: Scoop Search - Christchurch
 

Gordon Campbell: On The School Climate Strike

Locally, the school strike has won a ton of support for bringing climate change to the fore. Yet the strikers don't want mere expressions of support. They want action. More>>

ALSO:

"Grabbed And Struck In The Face": Greens Co-Leader Attacked While Walking To Work

Green Party co-leader James Shaw was the victim of an unprovoked attack when he was walking to work in Wellington. More>>

ALSO:

████████ ████ ███: Latest OIA Statistics Released

The latest statistics cover 110 agencies that collectively completed 18,106 official information requests between July and December 2018, a 16.4% increase on the 15,551 requests for the previous six months. More>>

ALSO:

'Hit And Run' Inquiry: New Legal Action Over Secrecy

The lawyer representing the Afghan villagers in the inquiry into Operation Burnham has launched legal proceedings calling for a judicial review in the investigation. More>>

ALSO:

From Hydro Plan To...: Mokihinui River Land To Join Kahurangi National Park

A total of 64,400 hectares of conservation land in the Mokihinui River catchment on the West Coast north of Westport, including 15 km of riverbed, is being added to Kahurangi National Park. “Adding this area, roughly half the size of Auckland City, to Kahurangi is the largest addition of land to an existing national park in New Zealand’s history,” Eugenie Sage said. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels