Parliament

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

 

Bold 2020 target comes with high price


Hon Dr Nick Smith
Minister for Climate Change Issues
4 August 2009 Media Statement
Bold 2020 target comes with high price

Achieving 100% renewable electricity by 2020 would cost $17.5 billion, put power prices up by 30% and require the equivalent of seven Clyde Dams being built, Climate Change Minister Nick Smith says.

Dr Smith was responding to claims by the Sign On -40% by 2020 campaigners who have stated that “100 per cent renewable electricity supply is easily achievable by 2020”. The Minister tabled the analysis by the Ministry of Economic Development in Parliament in response to questions from the Green Party promoting the -40% target.

”It would first require writing off $4.5 billion of thermal generation assets It would also require $11 billion for the replacement capacity of 2500 MW and an additional $2 billion for additional renewable peaking stations to ensure security of supply in a dry year.

“This amounts to a total capital cost of $17.5 billion, excluding the additional transmission investment that would be required, and would lead to a 30% power price increase for all consumers.

“To achieve 100% renewables we would need to build a total of 3123MW to maintain security of supply – the equivalent of seven Clyde Dams within a decade.

“I have also seen proposals from those campaigning for a 40% reduction in emissions by 2020 who say that agricultural emissions can be reduced dramatically through adopting a ‘Smart Farming’ approach. These methods entail a one-third reduction in stock intensity which would reduce emissions accordingly.

“However, the consequences for New Zealanders of cutting by a third our stock number of sheep, cattle and deer would cost 47,000 jobs, reduce our export receipts by $6 billion and would significantly reduce the living standards of all New Zealanders.

“Such policy options for agriculture are not being considered. Our efforts are going into investing in technologies that will reduce emissions while maintaining farming returns.

“It is misleading for those advocating bold targets to say that 100% renewables and big cuts to agriculture emissions can be easily made. We need an ambitious but achievable goal for 2020 that balances the environmental risks of climate change with the economic impacts on New Zealand of reducing emissions.”


ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why Worksafe’s Whakaari/White Island Prosecutions Are Good News

Somewhere in Heaven, Helen Kelly must be smiling about Worksafe’s criminal prosecution of 10 firms and three individuals for their roles in the lead up to the Whakaari /White Island tragedy. In tandem with the subsequent coronial inquest, these court proceedings will hopefully culminate in the creation ( finally!) of a central agency to regulate the adventure tourism sector and improve public safety on matters like risk assessment, safety guidelines, inspection, enforcement and injury reporting... More>>

 

Carbon Neutral Policy: Gov Declares Climate Emergency

The Government has launched a major new initiative to combat climate change that will require the public sector to achieve carbon neutrality by 2025. More>>

ALSO:

Pill Testing: Govt Moves On Drug Checking To Keep Young New Zealanders Safer This Summer

The Government will pass time limited legislation to give legal certainty to drug checking services, so they can carry out their work to keep New Zealanders safer this summer at festivals without fear of prosecution, Health Minister Andrew Little ... More>>

ALSO:

WorkSafe: 13 Parties Charged Over Whakaari/White Island Tragedy

WorkSafe New Zealand today filed charges against 13 parties in relation to the Whakaari/White Island eruption in December last year. “22 people have lost their lives in this tragic event. WorkSafe is tasked with investigating workplace incidents to determine ... More>>

ALSO:


Tax: Government Fulfils Election Undertaking On New Top Tax Rate

The Government will today keep its election promise to put in place a new top tax rate of 39 per cent on income earned over $180,000. More>>

ALSO:

Media: Stuff Holds Itself Accountable For Wrongs To Māori

Stuff has today published the results of an investigation into itself, and issued a public apology, for the way the media organisation has portrayed Māori, the indigenous people of Aotearoa New Zealand, from its first editions to now. Tā Mātou Pono | More>>

ALSO:

Economy: Crown Accounts Reflect Govt’s Careful Economic Management

The better-than-expected Crown accounts released today show the Government’s careful management of the COVID-19 health crisis was the right approach to support the economy. As expected, the Crown accounts for the year to June 2020 show the operating balance ... More>>

ALSO:


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels