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Public Electricity Assets Not For Sale

State electricity assets are not for sale, says Energy Minister Pete Hodgson.

"Trustpower has been reminding New Zealanders that much of the electricity industry in this country is publicly owned," Mr Hodgson said. "That is true, and under this Government it will remain so."

"New Zealand taxpayers have invested billions of dollars in the national electricity infrastructure. Those assets will stay in taxpayers' hands as long as this Government is in office.

"Those in the electricity industry who are complaining about the level of state involvement seem to think New Zealanders would be happier if more electricity revenues were flowing to the private sector. I very much doubt that.

"Claims that the state is profiting exclusively from current high wholesale prices are also flat wrong. Privately owned generators selling electricity on the spot market are also in a position to benefit from those prices.

"Some industry players and commentators seem to believe the current electricity situation is a golden opportunity to push the case for further privatisation. They are barking up the wrong tree."


Ends



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