Our power system almost blacked out because gentailers chose dividends over building 1.5 GW of already consented wind farms. Making the market competitive & unleashing solar + batteries might fix it
Great Journalism Bernard and Lynn - hopefully, the mainstream media can do half as good a job of debunking what this government is claiming. The Oil and Gas exploration ban had nothing to do with the perilous state of the electricity system yesterday, and the Minister knows it
Superb. Dividend harvesting rather than reinvesting the surplus income, I would suggest, and then suggesting that increased demand from electric vehicles was high among the causes, oh, and (as an afterthought) the growing number of data centres was laughable.
Well well Bernard. So much for “simpering Simeon”. I now have 18 panels on our roof but a battery is still too expensive. We are probably in the “rich prick” class also! You must release this! Where are our young “crusading journalists” or have they been crushed by the neoliberal capitalist machine. Just listened to the hoon from this week
Fantastic analysis, I’d be interested in hearing why geothermal was omitted here though, surely seems more reliable in some parts of the country than solar?
No amount of competition is going to provide the infrastructure investment of decades of pirating neoliberalism has inflicted on our energy, particularly electricity, generating capacity. Competition is grounded on providing profits to shareholders, exactly what the current electricity gentailers have been doing so magnificently all along. Our grid and all associated resources must be renationalised without compensation to the already bloated greedies. Let’s take back the resources that are rightfully ours and put them to use generating a green economy for everyone.
actually all Govt needs to do is turn the shares in bonds - confiscation of asset value would have some horrible wider economic consequences - simply turning shares into bonds means that the present owners have their capital conserved but get an interest payment rather than a dividend and there is no costs incurred in renationalizing the assets and then government can run the system as a coherent whole and make strategic investment decisions not commercial ones.
Fantastic. Astonishing that natural solutions are still so often scuppered by existing interests manipulating markets to their benefit. If the current crowd are onto this, they should see opportunity and push this through. Let's wait and see. Excellent work, Bernard.
Hi Bernard - the first thing we need to do as a nation is reassemble the old ECNZ and run the system as an essential public service with a comprehensive investment strategy for renewables, energy self-sufficiency and security of supply. There is a substantial strategic need for this for two reasons - one is that global politics make it essential the other is that NZ cant afford to import all the energy it needs and is especially vulnerable to rapid price hikes in the cost of oil - it must be remembered that it wasnt think big that dealt to the NZ economy in the 1980s it was oil at the equivalent of $300 per barrel -that could be around the next corner in short order.
And maybe it is time our politicians admitted that the neoliberal model is a failure - we have squandered three decades of opportunity, run our infrastructure into the ground and wasted countless tens of billions on inflating the property market and unproductive migration driven population growth and now we are broke.
I don't know Bernard... My electricity has never been more powerful, since I switched to my new blue provider from my previous orange one! Our bedroom lights are brighter; our cooked food tastes better; I've never seen such vivid colours on my TV! Obviously the free market is working to improve electrons for us all! I think the cure for your negativity might just be to find yourself some better quality electricity 🤣
we also need to be honest about the role of our generators - most of the "profits" go into the consolidated fund or kiwisaver - so functionally they are a simply way for government to indirectly taxing the public. It seems to elude the geniuses in the beehive that the power consumer and the taxpayer are the same person- it would be far more efficient for the economy for government to fund its activities purely through taxation and for energy supplies to be run to maximize benefit to the economy and society, not to shareholders and government.
Excellent interview. Could you bring John Campbell from Our Energy into this forum too? Another innovative company up against the sector regulatory structure.
Great Journalism Bernard and Lynn - hopefully, the mainstream media can do half as good a job of debunking what this government is claiming. The Oil and Gas exploration ban had nothing to do with the perilous state of the electricity system yesterday, and the Minister knows it
Worth sharing to the country Bernard
Superb. Dividend harvesting rather than reinvesting the surplus income, I would suggest, and then suggesting that increased demand from electric vehicles was high among the causes, oh, and (as an afterthought) the growing number of data centres was laughable.
Well well Bernard. So much for “simpering Simeon”. I now have 18 panels on our roof but a battery is still too expensive. We are probably in the “rich prick” class also! You must release this! Where are our young “crusading journalists” or have they been crushed by the neoliberal capitalist machine. Just listened to the hoon from this week
? Some hope?
Patrick Medlicott
Fantastic analysis, I’d be interested in hearing why geothermal was omitted here though, surely seems more reliable in some parts of the country than solar?
What a revealing expose! Keep up the great work - we need to know!!
Good explanations on this chilly morning.
Also good to note the subtle support for Palestine from MS Cooney ? from Octopus.
No amount of competition is going to provide the infrastructure investment of decades of pirating neoliberalism has inflicted on our energy, particularly electricity, generating capacity. Competition is grounded on providing profits to shareholders, exactly what the current electricity gentailers have been doing so magnificently all along. Our grid and all associated resources must be renationalised without compensation to the already bloated greedies. Let’s take back the resources that are rightfully ours and put them to use generating a green economy for everyone.
Right on, Maurice! We need to renationalise the grid, without compensation & operate it on a non profit basis as it was from 1922 - 1998.
Bring back ECNZ!
actually all Govt needs to do is turn the shares in bonds - confiscation of asset value would have some horrible wider economic consequences - simply turning shares into bonds means that the present owners have their capital conserved but get an interest payment rather than a dividend and there is no costs incurred in renationalizing the assets and then government can run the system as a coherent whole and make strategic investment decisions not commercial ones.
Fantastic. Astonishing that natural solutions are still so often scuppered by existing interests manipulating markets to their benefit. If the current crowd are onto this, they should see opportunity and push this through. Let's wait and see. Excellent work, Bernard.
This is excellent from Marc Daalder in calling bullshit on the gas excuse. https://newsroom.co.nz/2024/05/10/government-hypes-gas-crisis-ahead-of-restarting-drilling/
Yes, fantastic analysis Bernard and definitely one to share widely.
Hi Bernard - the first thing we need to do as a nation is reassemble the old ECNZ and run the system as an essential public service with a comprehensive investment strategy for renewables, energy self-sufficiency and security of supply. There is a substantial strategic need for this for two reasons - one is that global politics make it essential the other is that NZ cant afford to import all the energy it needs and is especially vulnerable to rapid price hikes in the cost of oil - it must be remembered that it wasnt think big that dealt to the NZ economy in the 1980s it was oil at the equivalent of $300 per barrel -that could be around the next corner in short order.
And maybe it is time our politicians admitted that the neoliberal model is a failure - we have squandered three decades of opportunity, run our infrastructure into the ground and wasted countless tens of billions on inflating the property market and unproductive migration driven population growth and now we are broke.
I don't know Bernard... My electricity has never been more powerful, since I switched to my new blue provider from my previous orange one! Our bedroom lights are brighter; our cooked food tastes better; I've never seen such vivid colours on my TV! Obviously the free market is working to improve electrons for us all! I think the cure for your negativity might just be to find yourself some better quality electricity 🤣
Ha ha Tim
Brilliant 💡💡💡💡💡
we also need to be honest about the role of our generators - most of the "profits" go into the consolidated fund or kiwisaver - so functionally they are a simply way for government to indirectly taxing the public. It seems to elude the geniuses in the beehive that the power consumer and the taxpayer are the same person- it would be far more efficient for the economy for government to fund its activities purely through taxation and for energy supplies to be run to maximize benefit to the economy and society, not to shareholders and government.
Excellent interview. Could you bring John Campbell from Our Energy into this forum too? Another innovative company up against the sector regulatory structure.
would love this to be available to the general public Bernard.