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Double shock for Kiwi electricity users

Moana Mackey
Energy spokesperson

8 February 2012

Double shock for Kiwi electricity users

Rising electricity prices will only be exacerbated by privatisation of state-owned power companies, and it is Kiwi consumers who will pay, Labour’s Energy spokesperson Moana Mackey says.

"Confirmation that the cost of upgrades to the national grid will be passed to consumers through their electricity bill will not be welcome news for the many Kiwi households already struggling with the increasing cost of power.

"Transpower's announcement of price increases will hit already stretched household budgets hard - especially those on fixed incomes such as pensioners.

“Based on the latest electricity prices an increase of 10 per cent - and that’s been tipped for some regions - would see an average household forking out an extra $16 a month, or $192 a year,” Moana Mackey said.

"At the same time John Key's National Government is preparing the state-owned power companies for privatisation, a move expected to push prices even higher as the delivery of ‘shareholder value’ becomes all important and the current requirement to exercise ‘self-restraint’ around pricing disappears.

"It is laughable that National ministers continue to claim that ‘mum and dad’ investors are going to be the beneficiaries of their asset sale agenda.

“Most New Zealand mums and dads are struggling to keep on top of their power bills now. Buying shares in a company they already own is unlikely to be a priority in the future,” Moana Mackey said.

ENDS

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