Parliament

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

a well

Wellness: Gordon Campbell On Ardern, Davos, And Wellbeing

The word “well-being” has a nice warm ring to it. So much so that the ‘wellbeing budget’ being touted by PM Jacinda Ardern at the rich folks’ club in Davos, Switzerland sounds more like a marketing slogan than an actual policy initiative.

Still, it is just as easy to forget that GDP – the common measure of how well an economy is performing – is also a marketing device. More>>

 

Gordon Campbell: On Why Shipping Is NZ’s New Trade Problem

So Jacinda Ardern and Theresa May have signed a piece of paper promising peace in our time when it comes to our trade with Britain... Brexit is not the only concern. More>>

ALSO:

Reshuffle: National Announces Spokesperson For Drug Reform

National Leader Simon Bridges has appointed Paula Bennett to the new position of Spokesperson for Drug Reform as the Government pushes ahead with its agenda of drug decriminalisation, to signal National’s commitment to holding them to account. More>>

ALSO:

KiwiBailed: KiwiBuild Head Officially Resigns

The head of Kiwibuild, Stephen Barclay has officially resigned from the role. In a statement issued on his behalf, it was announced that he would step down from today [Friday]. More>>

ALSO:

Welfare Stats: Rise In Hardship Numbers Shows Income Inadequacy

The latest Ministry of Social Development quarterly report show that a record number of people have received hardship assistance from work and income, with an additional 40,000 hardship payments made between September and December 2018, compared to the previous quarter of the same year... More>>

ALSO:

Gordon Campbell: On MBIE’s Social Media Scam

Given the ambit of MBIE’s work, almost any form of social activity could qualify as being part of MBIE’s brief, so the privacy threats posed by this training programme are extensive. The current oversight safeguards seem threadbare to non-existent. More>>

ALSO:

JusTrade: New Campaign For A 21th Century Trade Agenda

‘Critique is no longer enough. If anything is to really change, we need to step away from the existing framework and take a first-principles approach to rethinking what will work for the 21st century.’ More>>

Earlier:

Gordon Campbell: Thompson + Clark Are The Tip Of The Iceberg

How can we tell where and how any lines are being drawn? Oversight is not exactly robust. If it were, Thompson + Clark would have been out of contention for state security work ten years ago. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels