The Green Party has welcomed the OECD urging the Government to re-examine separating ‘gentailers’ to make a fairer electricity market for New Zealanders.
“Our electricity market is failing people and planet, it is in desperate need of reinvention,” says the Green Party Energy Spokesperson Scott Willis.
“The future is renewable energy, but the foundations of the current market have locked gentailers into using fossil fuels while locking new entrants and renewables out. We need political leadership to dismantle the monopoly and allow fairer prices.
“The OECD has been clear that our energy market is in need of an overhaul, sending a clear message to the Government which has so far sat on its hands.
“For far too long the gentailers have prioritised shareholder profits over investment in renewable electricity generation, as tight market conditions boost economic returns but inflict pain on households, businesses and industry.
“Until the rules are changed, the country will suffer from issues of supply, business closures due to high power prices, and higher prices for families already struggling to pay their bills.
“We can have cheaper electricity, alongside development of a cleaner, smarter grid, through the separation of the gentailers as the starting point
“My Member’s Bill, the ‘Electricity Industry (Separation of Generation and Retail Businesses) Amendment Bill’ offers a pathway forward. It was deposited in the Ballot earlier this year and this Government doesn’t need to wait for it to be picked from the ‘Biscuit Tin’. It can use my bill to take the necessary action if it’s serious about fixing our broken electricity market.”
“The future is renewable energy, and it is time to unlock a world of new possibilities by building an electricity market that puts people and planet first,” says Scott Willis.
Maximising profits is the object of the market – not fairer prices.
Markets tend to put profit before people and planet
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