In an open letter published in newspapers today under the headline “Our energy market is broken”, the signatories—including the Auckland Chamber of Commerce, Consumer NZ, and four independent power retailers—warned that the country is running out of gas, energy prices are skyrocketing, and delays in new electricity generation are hurting both families and businesses.
“Our dysfunctional electricity market is holding back New Zealand’s productivity, restricting our international competitiveness, and driving up the cost of living,” the letter stated, calling for urgent reforms to unlock renewable investment and protect consumers.
Energy Minister Simon Watts acknowledged the concerns, conceding that “our electricity market is not functioning as well as it should.” He attributed the current pressures to a dry 2024 winter, declining wind power, and faster-than-expected drops in gas production.
While pointing to an ongoing market review launched last year after a winter “power crisis,” Watts assured the public that the Government would make announcements on reforms “in due course.”
The letter’s authors urged decisive action: “Level the playing field. Put protections in place for consumers and businesses alike… Use this once-in-a-generation opportunity to reshape our energy market.”
Daily Telegraph New Zealand (DTNZ) is an independent news website, first published in October 2021. - where this article was sourced.
“Our dysfunctional electricity market is holding back New Zealand’s productivity, restricting our international competitiveness, and driving up the cost of living,” the letter stated, calling for urgent reforms to unlock renewable investment and protect consumers.
Energy Minister Simon Watts acknowledged the concerns, conceding that “our electricity market is not functioning as well as it should.” He attributed the current pressures to a dry 2024 winter, declining wind power, and faster-than-expected drops in gas production.
While pointing to an ongoing market review launched last year after a winter “power crisis,” Watts assured the public that the Government would make announcements on reforms “in due course.”
The letter’s authors urged decisive action: “Level the playing field. Put protections in place for consumers and businesses alike… Use this once-in-a-generation opportunity to reshape our energy market.”
Daily Telegraph New Zealand (DTNZ) is an independent news website, first published in October 2021. - where this article was sourced.
2 comments:
Why would anyone invest in NZ energy, including the taxpayer, when you know that at soon as Labour gets back into power the schemes will ba scrapped and the investments wasted? The other problem is Maori, who reckon they own all the natural resources, so investments in energy will be milked, making them uneconomic.
Is Energy Minister Watts not also the Climate Change Minister? Must make for some interesting mental gymnastics - is he perhaps bipolar? I'd be very suspicious of groups "..calling for urgent reforms to unlock *renewable* investment and *protect consumers*" sounds like someone setting the stage to have their pockets lined by taxpayers and/or electricity consumers (i.e. everyone) to build some more hopeless windmills and solar farms that go dark at night.
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