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


Minister reveals woeful ignorance of power prices

6 November 2018

Minister reveals woeful ignorance of power prices

The Minister of Energy’s woeful ignorance of New Zealand electricity prices raises wider concerns about her stewardship of major energy reforms set to become law this week,

National’s Energy and Resources spokesman Jonathan Young says.

“Megan Woods claims to be well-briefed on energy markets but appears to have no knowledge of New Zealand electricity futures, despite them being a key risk management tool for the sector which signals where prices are heading.

“Wholesale electricity prices averaged $302 per megawatt last month, the highest since at least 2009. The Minister should be keeping a close watch, especially given reports some electricity retailers are at risk of defaulting on payments and Genesis Energy is being forced to import coal to prevent power cuts.

“But Ms Woods ducked the question in the House today citing the complexities of the electricity market and saying she wanted the question in writing. That’s an odd response given the futures trade on the ASX and are easily found.

“More troubling is that Ms Woods is the Minister sponsoring the Crown Minerals (Petroleum) Amendment Bill, which is being rushed through against the advice of her officials and industry leaders and with scant regard for economic impact or actual effect on emissions.

She hasn’t been able to provide any analysis for the impacts of the Bill, which bans new offshore oil and gas exploration. While the Government promised wide consultation and robust analysis, it chose to block its ears to ram this through.

“The result is predictable – a reckless law change that will put Kiwis out of work, undermine our energy security, impose huge costs on Government and business and do nothing to reduce global carbon emissions.

“Transitioning to a low-carbon economy is too important a goal to be attempted without thorough due diligence and industry on board. New Zealand needs a long-term win, not a short-term soundbite for this Government.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Royal Commission Into Child Abuse

Obviously, it is good news that the coalition government has broadened the scope of its Royal Commission into the abuse of children, beyond its previous focus on children in state care.

In effect, there will now be two closely related reports. An initial report into the historical mistreatment of children in state care will be delivered by the end of 2020, and - two years later – a report into how “faith based institutions” investigation dealt with children will be presented as part of the Commission’s final conclusions... More>>


Rebuilding: Dame Silvia Cartwright To Lead Public Inquiry Into EQC

“The aim of the inquiry is to learn from the experience of the Canterbury earthquakes and ensure that the Earthquake Commission is fit for purpose in future events." More>>


Education: Primary Teachers Rolling Strikes

RNZ Report: More than 100,000 primary school students in Auckland will be home from school today as teachers and principals walk off the job for the second time this year. It's the start of a week of rolling one-day strikes around the country, after the collapse of contract negotiations last Thursday. More>>


"Process Was Sound": Inquiry Into Haumaha Appointment Released

The Inquiry’s purpose was to examine, identify, and report on the adequacy of the process that led to the appointment. It found the process was sound and no available relevant information was omitted. More>>


Govt Loses In Supreme Court: Call For Debate On Prisoners' Right To Vote

The court earlier this week upheld a High Court decision which found that a law restricting a prisoner's right to vote was inconsistent with the Bill of Rights. More>>


Shenanigans: NZ First Accepts Jami-Lee Ross Proxy Vote

The New Zealand First caucus strongly believes that in terms of the Electoral Integrity Amendment Act, that someone in Mr Ross’ position should resign his seat... the New Zealand First Whip will use Mr Ross’ proxy–to be exercised at all times in support of the vote of the National Party... More>>


Call For Conversation: Do You Know What Data Is Being Collected About You?

New Zealand Maori Council has called on a national conversation when it comes to data sovereignty asking the question “just how many people know what data is being collected, why and how is it being used?” More>>

Economic Policy: Gordon Campbell On The Aussie Banks And Their Profits

Some folk rob you with a six-gun, as Woody Guthrie once memorably put it, and some rob you with a fountain pen. And some do it in broad daylight without blinking, while the government looks on impotently. More>>


Drug Law: Cost Benefit Analysis Shows Reform Stacks Up

Both decriminalisation of drugs and introduction of a strictly regulated market for cannabis are fiscally positive. Shifting away from a punitive response to drug use would significantly reduce costs in the criminal justice system. More>>





InfoPages News Channels