How National & Labour prioritised high 'gentailer' dividends to lower budget deficits & interest rates (which boosted land prices) over more renewable investments that would have cut emissions & costs
More enlightening but depressing reading. Politicians of the blue or red hue seemingly have no back bone/intention of changing the status quo and allowing gentailers to continue to rip NZ consumers off & not reinvest in whats needed.
And this shallow PR spin makes my head spin
"Contact said it had launched plans to spend $1b extra on generation."
I have also "launched a plan" to spend $1 billion dollars on renewable energy. Doesn't mean anything unless I hear someone has SPENT $1 billion on actual generation assets otherwise its all talk. Bring on the Lake Onslow development which should cut into their profits and make Flick Energy etc more competitive
Thats great but look at the list at all those wind farms that have been consented but the various gentailers are allowing the resource consents to lapse. Its almost like its more profitable to spend money on the upfront costs of resource consenting etc but with no follow through on actually building electricity scarcity remains & so does the excessive profit margins
Also if Onslow gets announced (which is a ridiculously unfeasible project on cost and environment impacts), there will be no new renewable developments coming from anyone. There will be zero incentive to.
Thanks Bernard. For me, I’d be happy to see this made public and spread as far as it can be. The rort that is our energy sector has always felt under reported in my opinion. It has always got to me that Jacinda and Lavour get up and talk to proudly about things like the winter energy payment to help families with the cost of power in winter - which in itself I have no issue with, as I’d rather that than families going without, but this actually just endorses the status quo and subsides these profits when the govt could and should just fix the underlying issue and redirect the $ allocated for the Winter energy payment to either infrastructure investment or something else to help lower income renting families. It’s not like things like this couldn’t be better directed elsewhere if the energy market was more competitive and fair for new players. deep down they are happy to keep the facade up and it’s really sad to me that generational change that this govt promises just is a complete myth.
Great work Bernard. Good selection of interviewees so well put together. Am NB comment for me was “... choosing today over tomorrow ‘ I’d that to become a critical mantra. It fits an image in my head of squatting clutching dragons causing a national constipation. Kids don’t stay around for it.
More enlightening but depressing reading. Politicians of the blue or red hue seemingly have no back bone/intention of changing the status quo and allowing gentailers to continue to rip NZ consumers off & not reinvest in whats needed.
And this shallow PR spin makes my head spin
"Contact said it had launched plans to spend $1b extra on generation."
I have also "launched a plan" to spend $1 billion dollars on renewable energy. Doesn't mean anything unless I hear someone has SPENT $1 billion on actual generation assets otherwise its all talk. Bring on the Lake Onslow development which should cut into their profits and make Flick Energy etc more competitive
Contact has already spent ~$800m on there new Tauhara Geothermal field outside of Taupo. Coming online in 2023.
Thats great but look at the list at all those wind farms that have been consented but the various gentailers are allowing the resource consents to lapse. Its almost like its more profitable to spend money on the upfront costs of resource consenting etc but with no follow through on actually building electricity scarcity remains & so does the excessive profit margins
Also if Onslow gets announced (which is a ridiculously unfeasible project on cost and environment impacts), there will be no new renewable developments coming from anyone. There will be zero incentive to.
An hour? Bernard you are too good to us
Still listening, but definitely open this one up to all. Great work, Bernard.
Maybe a partial solution can be found by going local.
https://thekaka.substack.com/p/dawn-chorus-robertson-relaxed-about/comment/10470341
impressively depressing.
Very informative. Thanks
Thanks Bernard. For me, I’d be happy to see this made public and spread as far as it can be. The rort that is our energy sector has always felt under reported in my opinion. It has always got to me that Jacinda and Lavour get up and talk to proudly about things like the winter energy payment to help families with the cost of power in winter - which in itself I have no issue with, as I’d rather that than families going without, but this actually just endorses the status quo and subsides these profits when the govt could and should just fix the underlying issue and redirect the $ allocated for the Winter energy payment to either infrastructure investment or something else to help lower income renting families. It’s not like things like this couldn’t be better directed elsewhere if the energy market was more competitive and fair for new players. deep down they are happy to keep the facade up and it’s really sad to me that generational change that this govt promises just is a complete myth.
Thanks Bernard,
Please open this to the public
Then there’s the punchline:
Sending 30b of those increased profits OS to buy carbon credits...
that is a lot of reading
Sock it to them Bernard!
Great work Bernard. Good selection of interviewees so well put together. Am NB comment for me was “... choosing today over tomorrow ‘ I’d that to become a critical mantra. It fits an image in my head of squatting clutching dragons causing a national constipation. Kids don’t stay around for it.