Nats still at panic-stations over NZ Power

Written By: - Date published: 8:29 am, April 22nd, 2013 - 16 comments
Categories: business, capitalism, class war, energy, national - Tags:

Can there be a greater sign of the threat that National sees in NZ Power than the fact they have put out 5 press releases condemning it in 4 days?

Joyce has even come out of his undisclosed location to pooh-pooh it – although he can’t decide whether it’s bad because it won’t work or because it will work so well, as the market thinks, that the electricity shares will be worth less or whether it’s bad because it’ll scare off other rentiers, which is bad for some reason.

I bet Key spends his Monday media round attacking it too. National knows they’re on to a hiding – they’re defending excessive profits over lower power prices for people. But they’re ideological bound to reject the solution.

(Update: as I wrote this, Key announced they’re looking at reissuing the Mighty River share offer document to include the risk this Greens/Labour policy poses to MRP’s over-inflated value. Guess that blows any claim that it won’t lower power prices out of the water. They’ll have to get a wriggle on with the new document unless they extend the offer period and delay the sale, and a new offer document will allow everyone who’s applied for shares so far to pull out)

16 comments on “Nats still at panic-stations over NZ Power”

  1. Ad 1

    The MRP Board are discussing it. Better that than face prosecution and likely jail, like so many others who only a few short years ago failed to disclose risks properly on the prospectus.

    Fear of prosecution will have put the shits up those Nat MPs who thought they could retire to a fine sinecure on one of the energy company boards.

  2. ianmac 2

    The Re issue of documents must be done to legally outline the risks. However they cannot use such an outline to score points off Labour-Greens; it must be neutral and that will hurt Mr Key’s feelings no end.

  3. Peter 3

    What is even more interesting is this report

    It seems that Key has shifted Kevin Taylor – the architect of much of his success – sideways. Quite similar to Mike Munro resigning from Helen Clark’s office, from when the rot really set in.

    Maybe the cycle truly has turned now, and given that it’s grumpy season (i.e. winter) there won’t be a lift for a while.

    • Northshoreguynz 3.1

      I want to be the first with the cliche.
      Rearranging deck chairs?

    • veutoviper 3.2

      Interesting. I had not heard of Kelly McAna.

      A quick google revealed that she has been a Press Secretary to Key since January 2010, but since then has also been the media contact for press releases by Joyce, Brownlee and Heatley in relation to their Ministerial responsibilties.

      Prior to 2010, she was corporate communications person for the NZ Racing Board 2008/09; but also in 2009 was MOH spokesperson on a press release on DHB elections. What I found interesting was that this DHB release appears to have been when she was still comms person for the Racing Board.

  4. ianmac 4

    What’s that I hear? Could it be the Crusher sharpening her knives?

  5. felix 5

    I got some popcorn from the supermarket that’s salty AND sugary. Quite like it.

  6. aerobubble 6

    Look the tired, the lazy, the dumb, the illiterate, will all be worse off due to power meters since they won’t get access to the internet to manage their usage patterns, they will just cut back or turn off. So the Greens recognize this, progressive prices is essential in the electricity market. Poor people, time scarce, don’t have the resources to put a solar panel on the roof, so as the wealthy taken advantage of new smart meter technology the price on those who don’t will accelerate and accentuate the tail, the inequity of incomes. Unless government steps in.

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