Gerry Brownlee was warned his electricity reforms would increase power prices, not lower them as intended. He ignored the advice.
Wholesale power prices have spiked from $50 to $300 per MWH. Exporters have cut production as a result. Residential prices are next.
Brownlee’s Electricity Authority’s first job is to investigate why its own creation has caused a power price spike.
With power up and petrol breaking $2 a litre, energy is a handbrake on this supposed economic recovery. The price of oil is beyond New Zealand’s control, but the electricity price shock is entirely a result of National’s outdated neoliberal ideology.
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