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


Industrial Scale Rip off of Kiwis by Energy Companies

Industrial Scale Rip off of Kiwis by Energy Companies

Prime Minister John Key has unashamedly allowed energy companies to rip off Kiwi families through the emissions trading scheme (ETS) to the tune of $1.4 billion, says New Zealand First.

“Mr Key must explain why he has allowed this rort to go on,” says Leader Rt Hon Winston Peters.

An Infometrics economic analysis revealed in Parliament today by New Zealand First shows that:

• Customers and households are being charged substantially more that the ETS costs paid by energy companies

• Energy companies are charging $11 a credit factored in to customers when they are purchasing foreign carbon credits for $3

• $1.4 billion has been taken from Kiwis through overcharging customers an average 75% more than the energy companies paid in ETS compliance costs.

“As an example, Genesis Energy took an extra $36.7 million between 2010-2012, thus misleading mum and dad investors by inflating the share value when the company was sold off by the government.

“Clearly this was a strategy by the National Government to push up the ‘value’ of Genesis to squeeze as much out of the sale as possible.

“While this rort has gone on the government has rejected a proposal by iwi to use the ETS to create jobs and investment in the regions with little cost to the taxpayer.

“This is sadly typical of the current National Government – pushing private profits while caring little for New Zealanders who need jobs and a decent standard of living, and continuing to ignore the plight of the regions,” says Mr Peters.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Disobeying The Law: Police Censorship Of Crime Research “An Outrage”

The Green Party is calling on Police Minister Michael Woodhouse to ensure Police scrap controversial contracts that place onerous restrictions on academic researchers’ access to Police data, the Green Party says. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news