Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Sell Transpower to better secure Auckland's power

PRESS RELEASE

Libertarianz

Energy


Sell Transpower to better secure Auckland's power

"Undercapitalised, underinvesting and underperforming" is how Libertarianz Leader Bernard Darnton today described Transpower, the 100% state owned national grid operator.

"We have bureaucrats like the Electricity Commissioner -- who himself generates not one watt of power -- investigating this debacle. We have Labour not being accountable. We have Nick Smith waffling on about alternative power. And we have Trevor Mallard and Transpower running for cover when the answer is perfectly clear - Transpower suffers, like many state owned enterprises, from a lack of lack of commercial discipline and incentives," said Darnton, "and with this a lack of capital."

"The answer is to privatise immediately at least a part of Transpower, letting a substantial private investor inject capital into the company, allowing it to invest in its infrastructure with certainty, and with it initiate a drive to be more efficient, to reduce costs and to make it better able to provide the capacity for electricity distribution that consumers demand, and are willing and more than able to pay for."

Libertarianz calls on the government to immediately sell 49% of Transpower to a private bidder, by offering part of the sale as an injection in capital in the firm. The proceeds of the sale would be used to further reduce government debt, increasing the already ample capacity for tax cuts. The remaining 51% should be privatised by distribution of shares to all New Zealand citizens - meaning the majority of the national grid will be publicly owned - by the most accountable way - with the public owning shares, able to buy and sell them as they see fit, and receiving dividends whenever appropriate. We'd also abolish Transpower's protected monopoly and both the Electricity Commission and the RMA, and let the private sector invest in the national grid as growing demand for electricity makes it a sound investment.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Supreme Court: Worksafe Decision On Whittall Pike River Prosecution Unlawful

The question in issue on the appeal was whether WorkSafe New Zealand acted to give effect to an unlawful agreement of this nature when it offered no evidence on charges against Peter William Whittall for breaches of the Health and Safety in Employment Act 1992...

The Supreme Court... has found that the decision to offer no evidence was made under an unlawful agreement to stifle prosecution. It has granted a declaration to that effect. More>>

 

Cullen To Chair: Tax Working Group Terms Of Reference Announced

Finance Minister Grant Robertson and Revenue Minister Stuart Nash today announced the Terms of Reference for the Tax Working Group and that the Group will be chaired by Sir Michael Cullen. More>>

ALSO:

Gordon Campbell: On The New Pike River Agency (And The Air Strike Wing)

Much of the sympathy the public still feels for the families of the Pike River miners has been sustained by the sense that the previous government – let alone the mining company and the processes of receivership and litigation – has never dealt honestly, or fairly, with them. More>>

ALSO:

Not Going Swimmingly: Contractor Cut, New Dates For Christchurch Sports Centre

“As an incoming Minister, I have been conducting a thorough review of progress on the Anchor projects and to learn of a $75 million budget blowout on this project was very disappointing..." More>>

ALSO:

Tertiary: Allowances, Loan Living Costs To Get Boost

“From 1 January, student allowance base rates and the maximum amount students can borrow for living costs will rise by a net $50 a week,” says Education Minister Chris Hipkins... further adjusted from 1 April 2018 in line with any increase in the CPI. More>>

ALSO:

Foreign Affairs: Patrick Gower Interviews Jacinda Ardern

Prime Minister Jacinda Ardern says discussions have already begun on how to bring climate change refugees into New Zealand under a Pacific seasonal employment plan... More>>

ALSO:

Gordon Campbell: On The Centre Right’s Love Of ‘Nanny State’

You’d almost think it was 2005 again. That was a time when the rugged individualists of the centre-right were being beset by government regulations on the nature of light-bulbs, the size of shower heads, the junk food available at school tuck shops and other such essentials... More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election