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)
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