Spooked by tomorrow’s joint announcement by Labour and the Greens on policy to cut power prices, National is trying to claim they have solved the problem. Get real. In the past year, household electricity prices rose an average of 5%, that’s over six times the rate of general inflation. In fact, power bills have outstripped general inflation every year under National. By my reckoning, the average power bill has risen 16%, or about $300 a year under Key.
This bullshit can’t go on. We can’t keep paying more and more and more for electricity, the bulk of which is produced with nearly no operating cost by hydrodams whose capital cost was recouped years ago.
And, with National halving the amount of revenue the Crown gets from electricity companies via its asset sales, the reasons for not acting are disappearing fast.
(The breakdown of electricity price increases is from Stats Infoshare, CPI)