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.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

For The Birds: Gordon Campbell On The Budget

Budgies, so their Wikipedia page says, are popular pets around the world due to their small size, low cost, and ability to mimic human speech. Which is a reasonably good description of Finance Minister Bill English eighth Budget. . More>>

Max Rashbrooke On The 2016 Budget

The best label for this year’s announcement by Bill English might be the ‘Bare Minimum Budget’. It does the bare minimum to defuse potential political damage in a range of areas – homelessness and health are prime among them – but almost nothing to address the country’s most deep-rooted, systemic social problems. Indeed the Budget hints that these problems may get worse. More>>

ALSO:

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news