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Electricity Reforms to Spark Productivity

Media Release
10 December 2009

Businesses expect Electricity Reforms to Spark Productivity Improvements

The Wellington Regional Chamber of Commerce has welcomed the government’s proposed electricity reforms.

“Pricing in the electricity sector and concerns over security of supply have constrained New Zealand’s productivity growth and the proposed reforms are a major improvement on the current structure,” said Chamber CEO Charles Finny.

“Increased competition and improved incentives to invest in new generation are the keys to clearing the blockage and we welcome the government’s bold initiatives in this regard.

“The increases in electricity prices over the decade are a real concern to business customers. They can’t be passed on by exporters and they have been a massive drain on New Zealand’s international competitiveness.

“We congratulate Minister Brownlee on yesterday’s announcement.

“Many of the reforms are consistent with what the Chamber proposed in our submission and it is pleasing to see that the government has listened to business,” Mr Finny concluded.

ENDS

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