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

 


Bum deal for power consumers

Bum deal for power consumers

A damning report from Consumer New Zealand confirms what consumers already know, that they’re getting a bum deal, says Labour’s Energy Spokesperson, David Shearer.

“As winter sets in and consumers’ power bills go through the roof, it will be cold comfort to know that power companies have been making colossal earnings.

“The Consumer report says that between 2010 and 2013, Genesis’s pre-tax earnings went up 35 per cent, Contact’s earnings went up 27 per cent and Mighty River Power went up 19 per cent.

“Kiwis are paying through the nose for energy. It is particularly galling to see those increases coming during a recession.

“The respected, independent authority on consumer issues notes that despite over two decades of market reform of the electricity sector, ‘consumers are yet to get reliable assurances that the market model is supplying electricity at a reasonable price’.

“As Consumer New Zealand says, ‘that consumers might reasonably expect a drop in price ‘in a genuinely competitive market when demand is flat and wholesale electricity rates have fallen.’

“In the meantime John Key and Simon Bridges continue to insist the electricity market is working and power prices are not too high. The Government refuses to recognise a problem, and has failed to stand by Kiwis who are paying too much for power, says David Shearer.

The report also notes that electricity still remains in the hands of five big players controlling 93% of the market. Inroads by smaller players haven’t been able to hold prices let alone bring them down.

“According to Consumer, ‘the legislation has failed to ensure adequate price transparency, leaving regulators struggling to gauge whether prices are fair.’”

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news