NZ First Does Not Support Electricity ‘Crony Capitalism’

new-zealand-first-party

Wed May 18 2016 12:00:00 GMT+1200 (New Zealand Standard Time)

NZ First Does Not Support Electricity ‘Crony Capitalism’

Wednesday, 18 May 2016, 2:52 pm
Press Release: New Zealand First Party

New Zealand First is demanding serious changes to the Electricity Authority and total revision of the proposed Transpower Pricing Methodology.

“Crony capitalism is embedded within the Electricity Authority’s Transpower Pricing Methodology,” says the New Zealand First Leader and Northland MP Rt Hon Winston Peters.

“It is all there in black and white that when a large electricity user cries hardship to the Prime Minister, Transpower or the Electricity Authority, they’ll get price relief paid for by struggling households, small businesses and farmers.

“Subsidising massive energy users is crony capitalism, but is typical for how this National-led government preaches the opposite from how it behaves.

“Why should consumers in Northland and elsewhere be frog marched into massively higher prices so that Transpower can gold-plate its infrastructure while this government feathers its nest from the huge profits Transpower generates?

“Our view is that government should use Transpower’s huge profits to smooth pricing across the country. These proposals provide no incentive for new generation technologies but a lot of disincentives to protect Transpower’s legacy infrastructure.

“After all it was taxpayers from Invercargill to Kaitaia who built the power infrastructure in the first place.”

WHAT IT MEANS PER INSTALLATION CONTROL POINT (ICP):

LINES COMPANY

STATUS

PROPOSED

DIFFERENCE

PER-CONNECTION (ICP)

QUO $M

RED = ICP INCREASE

ELECTRICITY ASHBURTON

3.6

12.0

$ 8.40

233.3%

$ 448.98

WESTPOWER

1.6

4.7

$ 3.10

193.8%

$ 231.55

TOP ENERGY

4.3

9.5

$ 5.20

120.9%

$ 167.59

HORIZON

3.2

6.9

$ 3.70

115.6%

$ 151.71

VECTOR

178.8

256.7

$ 77.90

43.6%

$ 141.21

NORTHPOWER

13.0

20.6

$ 7.60

58.5%

$ 136.47

BULLER ELECTRICITY

1.3

1.8

$ 0.51

40.2%

$ 110.63

THE LINES COMPANY

3.7

5.2

$ 1.50

40.5%

$ 64.95

NETWORK WAITAKI

3.2

4.0

$ 0.80

25.0%

$ 63.37

OTAGONET JV

4.0

4.7

$ 0.70

17.5%

$ 60.70

COUNTIES POWER

10.2

12.5

$ 2.30

22.5%

$ 58.03

WEL

19.7

22.1

$ 2.40

12.2%

$ 27.86

ELECTRA

6.4

7.3

$ 0.90

14.1%

$ 20.66

THE POWER COMPANY

9.7

10.1

$ 0.40

4.1%

$ 11.24

LAKELAND NETWORK

0.2

$ -

0.0%

$ -

POWERCO

74.2

72.5

-$ 1.70

-2.3%

$ 5.35

NETWORK TASMAN

10.7

10.3

-$ 0.40

-3.7%

$ 10.47

WAIPA POWER

6.4

6.0

-$ 0.40

-6.3%

$ 15.82

ALPINE ENERGY

10.5

9.9

-$ 0.60

-5.7%

$ 18.79

AURORA ENERGY

21.6

19.3

-$ 2.29

-10.6%

$ 25.56

MAINPOWER

9.5

8.3

-$ 1.20

-12.6%

$ 32.17

EASTLAND NETWORK

5.3

4.2

-$ 1.10

-20.8%

$ 43.30

SCANPOWER

1.5

1.2

-$ 0.30

-20.0%

$ 44.70

CENTRALINES

2.0

1.6

-$ 0.40

-20.0%

$ 49.06

MARLBOROUGH LINES

6.6

4.9

-$ 1.70

-25.8%

$ 68.32

WELLINGTON ELECTRICITY

55.2

43.2

-$ 12.00

-21.7%

$ 71.14

ORION

63.9

47.6

-$ 16.30

-25.5%

$ 85.79

UNISON

30.5

24.8

-$ 5.70

-18.7%

$ 73.26

ELECTRICITY INVERCARGILL

5.5

3.6

-$ 1.90

-34.5%

$ 109.13

ICP is the Installation Control Point. ICP numbers from the Electricity Authority

ends

Advertisement - scroll to continue reading

a.supporter:hover {background:#EC4438!important;} @media screen and (max-width: 480px) { #byline-block div.byline-block {padding-right:16px;}}

Using Scoop for work?

Scoop is free for personal use, but you’ll need a licence for work use. This is part of our Ethical Paywall and how we fund Scoop. Join today with plans starting from less than $3 per week, plus gain access to exclusive Pro features.

Join Pro Individual Find out more

Find more from New Zealand First Party on InfoPages.