The entirely predictable effects of privatising much of our electricity generation capacity are arriving thick and fast.
Increased prices:
Power price increases revealed – Labour
Sharp rise in Wellington power prices
Power prices to rise again
Power price hike coming soon
Cutting payments to those with home solar generation:
‘Outrage’ at solar power buyback cuts
Buy-back cuts dim solar’s allure
Dark days for solar soldiers
Big pay rises for bosses:
Privatisation sell-off brings big pay rises for energy chiefs
And payouts that used go to the government (to be spent to the benefit of us all) now go to investors in and outside NZ:
Mighty River Power to pay extra dividend
(this despite carrying more than a billion dollars of debt).
So, if you’re a power company CEO or one of the few actual “mum and dad investors” I guess you’re doing fine. For the vast majority of us the Nats have delivered higher prices, smaller social dividends, and a blow to the vital solar energy sector. Brighter future?
(ht you know who you are)
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