Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Briefings To Incoming Energy Minister Released

Wednesday 4 September 2002

Briefings To Incoming Energy Minister Released

The Briefing to the Incoming Minister of Energy from the Ministry of Economic Development notes that New Zealand needs new electricity generation capacity soon.

“Transpower has recently forecast that, by 2005, assuming high load growth, existing generation is likely to be insufficient to meet demand in a dry year,” says the briefing. “The earlier than expected Maui gas field depletion also reduces the security margin in dry years as replacement fields are unlikely to provide the same opportunity as Maui to ramp up gas supply when required.”

New generation projects currently proposed include a 400MW expansion of Genesis’ Huntly power station and Meridian’s 600MW Project Aqua hydroelectric development on the lower Waitaki River in Canterbury.

The briefing says tighter supply means electricity prices are likely to rise on average over the next few years, particularly if gas prices rise significantly. It notes that the electricity industry “still has a significant way to go to convince consumers that competition is effective, prices are fair and customer service is satisfactory”.

Energy Minister Pete Hodgson said government policy would remain focused on putting downward pressure on costs and prices through competition where possible, with regulation and clear guidance where necessary. “It is also vital that New Zealand improves its energy efficiency, so that we can begin to de-couple economic growth from growth in energy demand,” Mr Hodgson said.

The Energy Efficiency and Conservation Authority’s briefing to the minister notes that New Zealand wastes hundreds of millions of dollars worth of energy every year through ineffiency. It says the National Energy Efficiency and Conservation Strategy, adopted by the government last September, will produce estimated net economic benefits of $900 million by 2012 if its targets are achieved.

Arrangements for establishing a new electricity industry governance structure, with consumer representation, are in their final stages. Decisions arising from the gas industry review begun in February 2001 are due later this year.

The MED briefing is available at http://www.med.govt.nz/about/bim2002/energy/
The EECA briefing is available at http://www.eeca.govt.nz/default2.asp

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Government: Northland To Move To Orange, NZ Prepared For Omicron


Northland will move to Orange at 11:59pm tonight, 20 January 2022, while the rest of New Zealand will remain at Orange as the Government prepares for Omicron to enter the community.
“Vaccination rates have continued to increase in Northland and are now at 89 percent first dose. The easing of the Auckland boundary over summer did not drive an increase in cases so we believe it is safe for Northland...
More>>

ALSO:


Gordon Campbell: On Responding To The Need In Tonga


The power of the Tonga eruption (and the size of the aid response being mounted) have been sobering indications of the scale of this disaster. The financial impact is certain to exceed the damage done by Cyclone Harold two years ago, which was estimated at the time to cost $US111 million via its effects on crops, housing and tourism facilities. This time, the tsunami damage, volcanic ash, sulphur dioxide contamination and villager relocation expenses are likely to cost considerably more to meet...
More>>



 
 



Government: New Zealand Prepared To Send Support To Tonga

New Zealand is ready to assist Tonga in its recovery from Saturday night’s undersea eruption and tsunami, Foreign Affairs Minister Nanaia Mahuta and Defence Minister Peeni Henare said today... More>>


Ministry of Health: COVID-19 Immunisation Starts For 5 To 11-year-old Tāmariki

More than 120,000 doses of the child (paediatric) Pfizer vaccine have been delivered to over 500 vaccination sites around New Zealand as health providers prepare to start immunising 5 to 11-year-olds tamariki from today, 17 January... More>>


Crown: Duke Of York’s NZ Military Patronage Appointment Ends
Buckingham Palace has recently announced that, with the Queen's approval and agreement, the Duke of York’s military affiliations and Royal patronages have been returned to the Queen... More>>

Financial Services Federation: Open Letter To Government From Non-bank Lenders: The Path Forward On CCCFA Changes
Responsible lenders are not interested in telling the Government “I told you so” when it comes to unintended consequences of changes to lending laws that are now causing grief for everyday Kiwis seeking finance... More>>

CTU: Too Many Kiwi Workers Financially Vulnerable As Omicron Looms
With New Zealand on the precipice of an Omicron outbreak and the economic upheaval that comes with it, the CTU’s annual Mood of the Workforce Survey shows the vast majority of kiwi workers do not have the financial resources to survive a period of unemployment... More>>


Financial Advice NZ: Law Changes Locking Out Home Seekers, Urgent Meeting Sought With Government

Recent changes in consumer finance law on top of Government policy changes are locking many home seekers out of finance options they would have qualified for just six weeks ago, says Financial Advice New Zealand... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels