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

 


Changes to improve electricity price monitoring

Changes to improve electricity price monitoring


Energy and Resources Minister Simon Bridges today announced changes to improve electricity price monitoring and provide more accurate information about how the market is performing.

“Because of the Government’s 2010 reforms, the electricity market is more competitive than it has ever been,” Mr Bridges says.

“With more customers switching between retailers and new retailers coming into the market, discounts of up to $300 per year are available to consumers who shop around.

“While commonplace today, these discounts were a rarity before the National Government’s reforms, and the current way in which we monitor electricity prices isn’t detailed enough to capture these savings.

“The Ministry of Business, Innovation and Employment (MBIE) has been working with electricity retailers since November to develop the new approach.

“In simple terms, the changes mean we will no longer publish the advertised rack rates for power. Instead, future electricity price monitoring will reflect what consumers have actually paid for their electricity, including discounts and benefits.

“This will provide a more accurate measure of electricity prices in New Zealand,” Mr Bridges says.

“In addition, regional price monitoring will also improve.

“This work by MBIE complements projects that are already underway by the Electricity Authority, to ensure New Zealanders have access to transparent, reliable, and consistent information about electricity prices.”

What the new approach will provide:

Information every quarter on the average amount households paid for electricity at a national and regional level – this will reflect discounts received by consumers, such as prompt payment discounts, lower fixed term prices, loyalty rewards, and acquisition and retention payments

National average prices for commercial and industrial customers

Backdated information for the past five years, so that longer term price trends can still be monitored.

The first survey results will be released in June.
Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament: Labour And Greens Sign Historic Agreement

The Labour Party and the Green Party have announced today they have signed an historic agreement to work cooperatively to change the Government. The Memorandum of Understanding (MoU) between the parties commits them to working cooperatively to change the Government including closer work at parliament and a possible joint policy announcement or campaign. More>>

ALSO:

Green Party: Suspend Charter Schools, Not Students

Most of the annual reports of the Partnership Schools already opened have been published today... Some schools had unacceptably high rates of suspensions and expulsions, and about half failed to meet all their agreed targets. More>>

Christchurch Rebuild: 'Third Strike For Brownlee From Treasury'

Gerry Brownlee should be hugely embarrassed that Treasury has given the central city recovery its third fail grade in a row, amidst revelations of further delays to the stalled convention centre project, says Labour’s Canterbury spokesperson Megan Woods. More>>

Professor Ian Shirley: The Budget That Failed Auckland

The 2016 budget offered Auckland nothing in the way of vision or hope and it continued the National Government’s threats against the Auckland Council. Threatening the Council with over-riding its democratic processes if it fails to release land for housing is a bullying tactic aimed at diverting attention away from the fundamental problems with housing in the region. More>>

ALSO:

Plain Packs Plan: Gordon Campbell On Tobacco Politicking (And The TPP Death Watch)

Has Act leader David Seymour got the easiest job in the world, or what? Roll out of bed, turn on the radio and hmm…there do seem to be a lot of problems out there in the world. Must think of something. And so it came to pass that this morning, David Seymour took up his sword and shield to fight for a world that’s about to be denied the rich and vibrant beauty of tobacco advertising. More>>

ALSO:


RECENT TPP MEETING:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news