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“New Zealand First can export green electricity in the goods and services we export, so it is ludicrous that we pay high ‘world prices’ for something that ought to be a core competitive advantage for us.  New Zealand First will take steps to ensure that electricity is delivered to all New Zealanders at the lowest reasonable price while maintaining a viable industry. The first step is to completely review the failed electricity market, which sees retail prices out of any proportion to wholesale prices.”

— Rt Hon Winston Peters

ELECTRICITY PRICES & INDUSTRY ISSUES

  • Establish four basic aims for policy: guarantee security of supply; achieving greater investment in the industry to produce and distribute electricity; facilitate energy efficiencies; and, to ensure that energy is supplied at a fair and reasonable price.
  • Conduct a full Inquiry into high retail electricity prices – recent reviews in the UK and Australia have found major issues with similar ‘market reforms’ we adopted here.
  • Review the Electricity Authority with regulatory functions to be transferred to the Commerce Commission.
  • Cancel the Transmission Pricing Methodology and require Transpower to socialise transmission grid costs across New Zealand.
  • Require Transpower to fund future transmission grid upgrades from its profits.
  • Restore public ownership of the part-privatised generators (and WEL Networks) over time, by buying back shares when the market price for them is right.
  • Review the number of local lines companies but leave any decision on amalgamation to the communities they serve while retaining full community ownership.

ENERGY GENERATION

  • Use New Zealand First’s boost of private and public Research and Development to develop new forms of energy generation.
  • Adopt alternate energy options as technology and availability makes them practical to minimise the environmental impacts while guaranteeing continuity of supply.
  • Ensure that applications for energy projects undergo a streamlined process directly through the Environment Court.
  • Provide incentives for ongoing investment in electricity generation, with a particular focus on local generation where feasible.
  • Drive carbon and energy efficient policies throughout local and central government by way of Carbon Budgets.