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

Werewolf Issue #49: Gordon Campbell Interviews Laila Harre

For 25 years, Labour and National have been in virtual agreement about the basics of economic policy, and differed mainly on how to go about managing its social consequences.

Such is the power of the economic orthodoxy that when opposition parties arise – say, in the shape of the Greens – their “credibility” is measured by the extent to which they give the appearance of learning and abiding by the ruling consensus.

The tension between the desire for change – and the inability of the current political framework to deliver it – creates openings for populists of all stripes. It is what has made the emergence of Internet Mana so interesting. More>>

 

Parliament Today:

Gordon Campbell: On National’s Electorate Deals

For all the talk yesterday from Prime Minister John Key about National being transparent about its electorate deals in Epsom and Ohariu, that transparency is entirely front-loaded. More>>

ALSO:

Greens: Oil Drilling Face-Off With Labour

The key policy points in the Green Party’s plan to protect our beaches from oil spills are to:
1. Prohibit deep sea oil drilling; 2. Implement compulsory shipping lanes for coastal shipping; 3. Build Maritime New Zealand’s oil spill response capability; and 4. Introduce a stronger legal framework so that when accidents do happen, the New Zealand taxpayer does not have to pay for the clean-up. More>>

ALSO:


Nick Smith v Fish & Game:

Minister Told Of FBI Investigation, Says INZ: Coleman Must Quit Or Be Sacked Over Dotcom Case - Harré

Immigration New Zealand has done the right thing in distancing itself from Jonathan Coleman’s claims that ministers were not aware of FBI involvement in Kim Dotcom’s residency application, says the Internet Party. More>>

ALSO:

Valedictory Season: Maori Party Founders Say Goodbye

Two major Maori MPs gave there farewell speeches to Parliament Thursday outlining their history, experiences, triumphs and regrets. More>>

ALSO:

Resignation Not Accepted: Transport Minister Breaches Aviation Security Rules

"Running late for a plane at Christchurch Airport, I without thought breached airport and airline security rules by entering the gate lounge through a door usually used for exit only..." More>>

ALSO:

TAIC Report: Urgent Recommendations After Melling Rail Accident

The Transport Accident Investigation Commission has made four urgent recommendations to KiwiRail following the accident two months ago (27 May) when a Matangi passenger train collided with a stop block at Melling Station, Lower Hutt. More>>

ALSO:

Red Tape: Local Regulations Go Under Microscope

The Government says it is accepting nearly all of the recommendations the Productivity Commission has made on ways to improve local regulations. More>>

ALSO:

Spending Questions: Claudette Hauiti To Step Aside At Election

National Party President Peter Goodfellow confirms that he has received notification from List MP Claudette Hauiti that she plans to step aside at the 20 September election. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news