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 Restarts: Prime Minister’s Statement

Our policy agenda and legislative programme will reflect the Government’s four priorities: • to responsibly manage the Government’s finances • to build a more competitive and productive economy • to deliver better public services to New Zealanders, an • to support the rebuilding of Christchurch. More>>

ALSO:

NZEI Survey Report: Special Needs Students Missing Out

The survey revealed that around 16 percent of students were on schools’ special needs registers, but nearly 90 percent of schools’ special needs coordinators did not believe there was adequate support for students and their learning... More>>

ALSO:

Interim Report: Waitangi Tribunal On Ture Whenua Legislation

Labour on Proposed changes to Maori land rules: “To have Treaty Negotiations Minister Chris Finlayson dismiss findings as ‘bizarre’ is totally disingenuous and disrespectful. What’s bizarre is Maori Development Minister Te Ururoa Flavell stubbornly pushing through this Bill before the Waitangi Tribunal has even completed its report..." More>>

ALSO:

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Protests Close Roads: TPP Signed In Auckland

“TPP was signed by Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Viet Nam.” More>>

ALSO:

Emails Behind 'Diplomatic Immunity' Case: Whitehead Report Released

“As previously indicated the conclusions reached by Mr Whitehead’s investigation are not unexpected but they are very disappointing,” Mr Mccully says. “At the heart of the matter is a single email, along with procedural shortcomings, which gave Malaysian officials the impression it would be acceptable for Mr Rizalman to return to Malaysia." More>>

ALSO:

Gordon Campbell: On The Treaty/TPP Overlap, And Iowa

The fears about the ISDS provisions in the Trans Pacific Partnership deal are well-founded. The reality is that there is a sharp uptick in the occurrence of ISDS litigation in developed countries, and even the right wing likes of The Economist have been souring on the process for some time. More>>

ALSO:

Christchurch Red Zone Offers: Fresh High Court Proceedings

Grant Cameron, Solicitor for the Quake Outcasts said “the action seeks judicial review of the Crown’s recent decision to make a fresh offer to purchase properties from uninsured property owners in red zones. More>>

ALSO:

PM's Post-Cabinet Press Conference: Waitangi And TPP

Prime Minister John Key on Tuesday said his office has received an invitation for him to visit the Lower Marae on Waitangi Day, but was waiting for a meeting of the Te Tii Marae Trustees. More>>

ALSO:

Flagged: 'Wrong Colour' Bridge Flag To Change

NZ First: Only 13 days after National trumpeted its legally questionable flag on Auckland Harbour Bridge, it is now coming down because it is the wrong colour... “Mr Key’s latest flag fiasco is another waste of taxpayers' money. Given it is coming down, down is exactly the location where it should remain. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news