NZ First Does Not Support Electricity ‘Crony Capitalism’
NZ First Does Not Support Electricity ‘Crony Capitalism’
New Zealand First is demanding serious changes to the Electricity Authority and total revision of the proposed Transpower Pricing Methodology.
“Crony capitalism is embedded within the Electricity Authority’s Transpower Pricing Methodology,” says the New Zealand First Leader and Northland MP Rt Hon Winston Peters.
“It is all there in black and white that when a large electricity user cries hardship to the Prime Minister, Transpower or the Electricity Authority, they’ll get price relief paid for by struggling households, small businesses and farmers.
“Subsidising massive energy users is crony capitalism, but is typical for how this National-led government preaches the opposite from how it behaves.
“Why should consumers in Northland and elsewhere be frog marched into massively higher prices so that Transpower can gold-plate its infrastructure while this government feathers its nest from the huge profits Transpower generates?
“Our view is that government should use Transpower’s huge profits to smooth pricing across the country. These proposals provide no incentive for new generation technologies but a lot of disincentives to protect Transpower’s legacy infrastructure.
“After all it was taxpayers from Invercargill to Kaitaia who built the power infrastructure in the first place.”
WHAT IT MEANS PER INSTALLATION CONTROL POINT (ICP):
LINES COMPANY | STATUS | PROPOSED | DIFFERENCE | DIFFERENCE | PER-CONNECTION (ICP) | |
QUO $M | $M | $M | % | RED = ICP INCREASE | ||
ELECTRICITY ASHBURTON | 3.6 | 12.0 | $ 8.40 | 233.3% | $ 448.98 | |
WESTPOWER | 1.6 | 4.7 | $ 3.10 | 193.8% | $ 231.55 | |
TOP ENERGY | 4.3 | 9.5 | $ 5.20 | 120.9% | $ 167.59 | |
HORIZON | 3.2 | 6.9 | $ 3.70 | 115.6% | $ 151.71 | |
VECTOR | 178.8 | 256.7 | $ 77.90 | 43.6% | $ 141.21 | |
NORTHPOWER | 13.0 | 20.6 | $ 7.60 | 58.5% | $ 136.47 | |
BULLER ELECTRICITY | 1.3 | 1.8 | $ 0.51 | 40.2% | $ 110.63 | |
THE LINES COMPANY | 3.7 | 5.2 | $ 1.50 | 40.5% | $ 64.95 | |
NETWORK WAITAKI | 3.2 | 4.0 | $ 0.80 | 25.0% | $ 63.37 | |
OTAGONET JV | 4.0 | 4.7 | $ 0.70 | 17.5% | $ 60.70 | |
COUNTIES POWER | 10.2 | 12.5 | $ 2.30 | 22.5% | $ 58.03 | |
WEL | 19.7 | 22.1 | $ 2.40 | 12.2% | $ 27.86 | |
ELECTRA | 6.4 | 7.3 | $ 0.90 | 14.1% | $ 20.66 | |
THE POWER COMPANY | 9.7 | 10.1 | $ 0.40 | 4.1% | $ 11.24 | |
LAKELAND NETWORK | 0.2 | 0.2 | $ - | 0.0% | $ - | |
POWERCO | 74.2 | 72.5 | -$ 1.70 | -2.3% | $ 5.35 | |
NETWORK TASMAN | 10.7 | 10.3 | -$ 0.40 | -3.7% | $ 10.47 | |
WAIPA POWER | 6.4 | 6.0 | -$ 0.40 | -6.3% | $ 15.82 | |
ALPINE ENERGY | 10.5 | 9.9 | -$ 0.60 | -5.7% | $ 18.79 | |
AURORA ENERGY | 21.6 | 19.3 | -$ 2.29 | -10.6% | $ 25.56 | |
MAINPOWER | 9.5 | 8.3 | -$ 1.20 | -12.6% | $ 32.17 | |
EASTLAND NETWORK | 5.3 | 4.2 | -$ 1.10 | -20.8% | $ 43.30 | |
SCANPOWER | 1.5 | 1.2 | -$ 0.30 | -20.0% | $ 44.70 | |
CENTRALINES | 2.0 | 1.6 | -$ 0.40 | -20.0% | $ 49.06 | |
MARLBOROUGH LINES | 6.6 | 4.9 | -$ 1.70 | -25.8% | $ 68.32 | |
WELLINGTON ELECTRICITY | 55.2 | 43.2 | -$ 12.00 | -21.7% | $ 71.14 | |
ORION | 63.9 | 47.6 | -$ 16.30 | -25.5% | $ 85.79 | |
UNISON | 30.5 | 24.8 | -$ 5.70 | -18.7% | $ 73.26 | |
ELECTRICITY INVERCARGILL | 5.5 | 3.6 | -$ 1.90 | -34.5% | $ 109.13 |
ICP is the Installation Control Point. ICP numbers from the Electricity Authority
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