Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Price of electricity, where does our tolerance level stop?

Attention The price of electricity, where does our tolerance level stop?

The Electricity Industry is overcharging the Domestic Consumer by $200 million per year.

Lines Company assets in the late 1990’s and early 2000’s doubled to a very inflated value.

Since then Domestic Consumers usage has been valued on these inflated figures.

To top this up, wholesale prices for electricity have shot up to almost three times the benchmark level, the price of electricity from new power stations.
This means that all retail electricity users will have another increase before very long and the Domestic

Consumer will once again be paying out more.

This will be enough to bring many Superannuitants and others on low fixed incomes to tears, as they try to dig deeper into an ever increasingly emptier pocket.

The new Electricity Authority will not only be pressured, ‘but will just have to’ place restraints on the generators’ ‘market power’ or see more people who have had their power cut off die next winter.

“The market” is the ‘system’ that sets our prices. I am reliably informed that prices could be set by regulation alone, or continue to be left completely to unregulated suppliers (who can profiteer without limit because electricity is essential).

In any civilised country "market prices" are subject to some regulation, but only in New Zealand is it subject to such "light-handed regulation" that the companies can make whatever profits they believe the Minister will tolerate.

Government's tolerance is getting pretty high, with electricity prices acting as a tax by another name.


Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On National Spreading Panic About The Economy

The lure for New Zealand to join the AUKUS military alliance is that membership of only its “second pillar” will still (supposedly) give us access to state of the art military technologies. As top US official Kurt Campbell said during his visit to Wellington a year ago:
...We've been gratified by how many countries want to join with us to work with cutting-edge technologies like in the cyber arena, hypersonics, you can go down a long list and it's great to hear that New Zealand is interested...


Government: Retiring Chief Of Navy Thanked For His Service

Defence Minister Judith Collins has thanked the Chief of Navy, Rear Admiral David Proctor, for his service as he retires from the Royal New Zealand Navy after 37 years. Rear Admiral Proctor will retire on 16 May to take up an employment opportunity in Australia... More

Labour: Grant Robertson To Retire From Parliament
Labour List MP and former Deputy Prime Minister and Minister of Finance Grant Robertson will retire from Parliament next month, and later in the year take up the position of Vice Chancellor of the University of Otago... More

Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More

Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More




InfoPages News Channels


Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.