Parliament

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

 

Stocktake on electricity situation

Wednesday, 25 July 2001

Media Statement - Hon P Hodgson

Stocktake on electricity situation

Energy Minister Pete Hodgson will hold discussions with the electricity industry and consumer representatives on Friday.

Mr Hodgson said that the hydro storage situation has worsened slightly over the past week and it is time to take stock of the options for managing the situation.

We are nowhere near the situation we faced in 1992 but it is prudent to keep ahead of developments, as there is the potential for lake levels to worsen considerably over the next month or so.

In addition a growing number of businesses are feeling the pinch. While it is true that these same businesses have enjoyed low spot prices for three years and thereby gained considerable advantage, it is also true that many had understandably not predicted that spot prices would rise to the level they have in times of shortage.

The market system introduced by Max Bradford in April 1999 has just struck its first dry winter. As a result many businesses who are exposed to the spot market are learning for the first time how volatile the spot price is. Some are in considerable difficulty.

Mr Hodgson said that options for the near future include a publicity campaign, the greater use of consumer buy back mechanisms such as Mercury have begun or bringing on various diesel generators around the country.

Some of these options are costly so we need to carefully judge when to incur those costs. If we move too soon it will cost money needlessly. If we move too late it will increase the risk of a crisis. It is an issue of prudent risk management."


ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark.

With so much still to be finalised, Sir Michael Cullen and his colleagues are going to need all the All Blacks’ fabled finishing skills to get a coherent, fiscally neutral package together by the February 2019 deadline. More>>

 

Meth Testing Report: Housing NZ "To Right Wrong"

Phil Twyford “Housing NZ acknowledges that around 800 tenants suffered by either losing their tenancies, losing their possessions, being suspended from the public housing waiting list, negative effects on their credit ratings or, in the worst cases, being made homeless.” More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

Pay Equity Bill: Making History For Women’s Pay

The Equal Pay Amendment Bill, introduced to the House today, will make it easier for workers to make a pay equity claim , using a more simple and accessible process within New Zealand’s existing bargaining framework. More>>

ALSO:

Suffrage 125: NZ A Trailblazer For Women

“We acknowledge the work of Kate Sheppard, Meri Te Tai Mangakāhia, and all of the suffragists who tirelessly campaigned for the vote… Today we also need to ask each other: how we can continue to make our country a fairer and better place to continue the legacy of the suffragists.” More>>

ALSO:

Asylum: Refugee Quota Increasing To 1500

“The quota increase will take place from July 2020. In the meantime, we will work to increase the number and spread of refugee resettlement and support services. We need to make sure we’re prepared for this change in policy.” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels