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Labour Promises Higher Power Prices

Experts say Labour’s 100 percent renewable target will increase power prices for every single New Zealander,” says ACT Leader David Seymour.

“A plan to transition to 100 per cent renewable electricity by 2030 is yet more virtue signalling from Labour. We’ve had populist promises of a new public holiday and a new top tax rate, but this plan will hurt all Kiwis.

“Even the Government’s own Interim Climate Change Committee has criticised the target. It found an earlier plan to transition to 100 percent renewable electricity by 2035 would push power prices up for little environmental gain.

“The former chairperson of the ICCC, David Prentice said:

‘(Prices would rise) 14 percent for residential electricity, 29 percent for commercial, and 39 percent for industrial electricity.’

“The economy is in recession, 70,000 New Zealanders have lost jobs, we’re drowning in debt, and Labour plans to jack power prices up.

“This is the worst possible time to chase an ideological goal. It will hurt New Zealanders without helping the planet.

“It’s yet more emotional environmentalism from Labour and follows on from the nutty oil and gas and plastic bag bans.

“Government’s response to climate change should be to set a price for emissions and let polluters find the cheapest way of reducing them. A properly functioning emissions price does just this. There’s no need for politicians to pick winners.”

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