ICYMI: 'A lack of competitive pressure'

Authority finds a lack of competition led to $70m worth of electricity overcharging when Meridian spilled water; Greens want structural separation; Woods eyeing new 'tools' to help lower prices

ICYMI: Morena. The Electricity Authority confirmed there was an ‘undesirable trading situation’ a year ago that meant the wholesale market overcharged customers by around $70m when Meridian Energy spilled water instead of generating cheap power.

“There was a lack of competitive pressure which meant prices remained relatively high despite an abundant supp…