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Government Must Regulate Power Prices Down


New Zealand First has called on the Energy Minister to regulate for a reduction in power prices for all consumers.

The Leader, Rt Hon Winston Peters, said today that Mr Bradford is on the record as promising lower electricity prices for everybody, and as this has not happened, the new regulations should apply to both lines and retail companies.

The Commerce Committee has made a number of recommendations on power price regulations but has not extended them to retailers.

New Zealand First has reserved its position on the bill. It wants stronger provisions being made to provide for regulating the retail sector.

Mr Peters said that the NZ First MP’s would discuss the legislation at caucus tomorrow and make their position known in the House.

“I would remind the government that we are in the middle of winter and any controls will not take effect until next winter.

“Perhaps the Treasurer’s phantom tax cuts are intended to be used to pay for higher power bills by then,” said Mr Peters.

ENDS

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