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Strong support for NZ Power

Written By: - Date published: 8:10 am, May 16th, 2013 - 56 comments
Categories: energy - Tags: ,

The Right unleashed the most brutal campaign in living memory against an opposition policy when the Greens and Labour announced the NZ Power plan to bring down power prices. They (rightly) saw it as a challenge to the whole rentier class that has been bleeding NZ dry for quarter of a century. It’s heartening, then, that the Right hasn’t managed to fool people.

The Greens commissioned a poll that shows 40% of people support NZ Power and 34% oppose, with the remainder neutral. That’s a really good result. As Russel Norman says, the Nats and the vest interests “threw the kitchen sink” at NZ Power – there was crazy commie talk, there were the paid academics, the declaration of war from Business New Zealand in its ‘open letter’.

This poll shows that a good policy has weathered an unprecedented assault by the Right and still has the support of the majority of people who have an opinion on it.

NZ Power is coming. Time for the rentiers to decide whether they’re going to kick and scream the whole way to their graves or adapt to the new future and find a place for themselves in it.

56 comments on “Strong support for NZ Power ”

  1. Nick K 1

    NZ Power is coming.

    No it’s not. It’ll never happen. Mark my words.

    • felix 1.1

      Your argument is compelling and your reasoning unassailable.

      • Akldnut 1.1.1

        Totally lol.

        With that logic and reasoning National will be in power for the millenium and NZ will invade and conquer the US next year before taking rest of the world the next year.

    • ghostwhowalksnz 1.2

      This is the ‘brighter future’ we have been waiting for

    • Is the Government going to pass special legislation promising the power companies that if a future Government changes the law to the detriment of the power companies that the companies can then demand compensation from the crown?

      • infused 1.3.1

        No, as much as Labour want to, they are not dumb enough to implement it. I’ll bet $100 on it.

        • Pascal's bookie 1.3.1.1

          lol.

          Like when you bookmarked that thread where you were so certain that Korea was about to break out into war, and Iran would be attacking Israel (or whatever it was). Deleted that book mark yet?

    • Nick…

      I have no problem if you and fellow National/ACT supporters want no part of NZ Power. If you wish to keep paying full “market” rates for electricity, along with annual prices rises, I will support your choice to do so.

      In return, no doubt we can expect your support for those who decide to opt for bulk-buying, single desk power-purchaser, NZ Power.

      After all, it’s about choice, right? Isn’t that what you Righties keep telling us; that choice is good?

      • andyS 1.4.1

        [deleted]

        [lprent: fuckwit troll. ]

        • One Anonymous Knucklehead 1.4.1.1

          Really? Nope, just a bunch of National Party lies.

          At the moment, electricity is traded in a spot market where the price is set by the generator who supplies the most expensive electricity, this is frequently gas generators. That price, which includes ETS carbon costs for gas, is paid to all generators including hydro, which has no carbon content.

          “That means gas and coal generators’ carbon costs are incorporated into the price paid to hydro, wind and geothermal generators, despite the fact that they have zero or low carbon emissions.

          “Under Labour’s policy only the companies whose generated electricity emits carbon will be able to charge for it. Carbon-free sources such as hydro will not be able to lift their prices because of carbon.

          The real question is, did Andy Scrase know his assertion is a lie before he made it, or is he just now finding out that he’s merely repeating bullshit like a cross between a parrot and a sponge? Is he a dupe or is he a liar?

          [lprent: He has made it here previously (along with other mindless graffiti machines), had the same refutations, and appears to have neither read those nor come up with any information backing his assertion. I’m about to start treating him as a dumb trolling virus rather than a human. ]

  2. tc 2

    I was surprised at the lack of finesse from the usual suspects and nastiness combined with B.S. that everyone is getting used to seeing through now.

    A few more of these policies on the many areas the NACT have run over timed in a run up to the next GE and the right should be gone looking like the born to rule bullies they are.

  3. Dv 3

    AND who is going to buy meridian. Certainly not the mums and dads.
    That is worth 3 billion.

    They could only muster up 113,000 @ $8,000, so the mums and dads will have to front with about $20,000

    • Colonial Viper 3.1

      This is the key point. MRP is the high tide mark of the power generation sales programme.

      • veutoviper 3.1.1

        And how are the MRP shares doing?

        A random middle of the night thought – it has gone very quiet since the ho ha launch on Friday.

        To satisfy my curiousity, conveniently the Herald has an article this morning.

        http://www.nzherald.co.nz/asset-sales/news/article.cfm?c_id=1503277&objectid=

        “Newly-listed Mighty River Power’s share price firmed by four cents to $2.55 this morning after falling to within one cent of its issue price on Tuesday.

        Mighty River shares fell by 3.8 per cent to $2.51 on Tuesday, with 19.9 million shares, worth $51 million, trading.

        One financial market source said it appeared that a large Australian investor had opted to “cut and run” on Tuesday after not achieving the desired level of exposure to the power generator and retailer.

        He said it was natural to see volatility in a share price after an initial public offer and listing.”

        Early days but it will be interesting to see where they stand in another month or so.

        EDIT – I now note that article was released yesterday morning.

        • Colonial Viper 3.1.1.1

          Remember, every “Ma and Pa” investor will have to pay at least $60 selling commission to the broker if they decide to “cut and run” themselves.

          If they bought $5000 worth of MRP shares they’ll make sweet f.a. (about a $40 profit) if they sell out at $2.55

          Usual story only the banksters really win

          • veutoviper 3.1.1.1.1

            Exactly.

            Stuff now have an article up entitled “Advisers: Stay Calm About Dip in MRP Shares”.

            “Mighty River Power’s retail investors may have felt their hearts flutter on Tuesday when the firm’s shares dropped to within a whisker of the pre-IPO price, marking a 21 cent decline from their opening peak of $2.73.

            For those with memories long enough, the move bore echoes of Contact Energy’s listing in 1999, when the stock charged out the gates to open at $3.69 – almost 60c above the IPO pricing.

            It gave that away within days and it took another 2 years before Contact’s shares would regain that level.

            But professional investors have urged calm about MRP’s slide this week, saying fluctuations in post-IPO share prices are not unusual as speculative investors face off against those who bought shares for the long haul. …”

            Then follows comments from a number of advisers with vested interests …

            The comparison with Contact Energy shares is interesting.

            Oops

            http://www.stuff.co.nz/business/industries/8677456/Advisers-Stay-calm-about-dip-in-MRP

            • Colonial Viper 3.1.1.1.1.1

              I’m expecting a global equity markets crash before the end of the year. That’s the end of these asset sales.

              • Winston Smith

                Pfft, I care not for the day to day fluctuations of the stock market. I look to the long term to make my profit.

                • tracey

                  unlike the big players who will have cut and run, and will come back in when the price dips to the level they want… Theyw ill have purchased at Govt price, knew it would rise quickly so got in to sell and then pocket the profit and ait to come back in as they drop. As someone above says, that is not an option for mums and dads because of broker fees. It’s never been a level playing field, much like other forms of gambling.

                • Colonial Viper

                  Pfft, I care not for the day to day fluctuations of the stock market. I look to the long term to make my profit.

                  You’re a buy and hold idiot aren’t you.

                  Tell me, how much money would you have made in the “long term” buying in 1987 when the NZSX 50 was 3200.

                  And holding until 25 years later, 2012, when it was still 3200.

          • tracey 3.1.1.1.2

            Yup… and those who had forward orders ahead of opening to sell…

    • tracey 3.2

      has the govt released the information on how many bogus names registered in their 400,000 ROI?

  4. Yes 4

    Lol NZ power is laughable purely on the sense the legal work to even get it up and running would go into years plus….has anyone thought about Maori claims just like assets sales court case. Chuck another 2 years on that. Even if the logic was right..the is no way in hell that any government could get it through in one term let alone two.

    • felix 4.1

      The above comment highlights one of the major deficits in right-wing thinking. Anything that requires even a few years of planning and implementation is too hard for them to fathom.

      • Roy 4.1.1

        They are used to thinking only in financial quarters. 12-18 months is a struggle for them.

    • One Anonymous Knucklehead 4.2

      You really need to make your mind up. Are you Chicken Little or Doubting Thomas?

    • Lanthanide 4.3

      “has anyone thought about Maori claims just like assets sales court case.”

      You clearly have. Why do you imagine that Maori would be against bringing power prices down?

    • Maori were content to not force the issue of what their interest in water is while the power companies were fully owned by the Crown. After all we all then received the benefit of this. They were motivated to act when the proposal to privatise was announced. For why should private investors benefit from the Maori interest in water?

      I suspect that NZ Power would be popular with most Maori.

      • MS, “I suspect that NZ Power would be popular with most Maori.”

        I think NZ Power will be popular with 70% of all people. The remainder 30% being hard-core National/ACT supporters who’d rather pay higher power prices than admit gaining any benefit from a Labour-Green-Mana initiative.

        Nose. Cut. Face. Spite.

        Silly, foolish, people.

    • So, “Yes”, you’ve nothing to worry about,. right?

      And all the share brokers, investment bankers, Business NZ – can all rest assured that their massive profits on the backs of Mums & Dads electricicity consumers, will not be touched.

      Carry on. Nothing to see here.

    • Murray Olsen 4.6

      How would Maori claims enter into NZ Power? I think you’re just making this up.

  5. Private Baldrick 5

    Corporal Clint you obviously don’t remember the trenches on the Somme, now that really was a brutal campaign.

  6. Mr Burns 6

    Time for the rentiers to decide whether they’re going to kick and scream the whole way to their graves or adapt to the new future and find a place for themselves in it.

    You mean there is an alternative to kicking and screaming?

    Apart of course from the purchase of policy and political power by the discrete application of wads of untraceable cash.

  7. Winston Smith 7

    Hey James

    What are the chances Labour will do what it says its going to do…you know like axe the tax or gst on fruit and veg

    You’re assuming the NZ public have memories like goldfish

  8. Pascal's bookie 8

    Funny how lefties go on about how right wing parties are planning to do things they aren’t talking about, while righties say left wing parties won’t do the things they are saying they will lol.

  9. donmcdazzle 9

    A green commissioned poll finds their policy popular? What a coincidence!

    • Colonial Viper 9.1

      Or maybe people like lower electricity bills

    • tracey 9.2

      Yes, they should have wasted money paying a patsy like Farrar to mislead that it’s impartial. Silly greens

  10. andyS 10

    How do the Greens intend to reconcile their position on the Emissions Trading Scheme, which will make power more expensive for everyone, with NZ Power?

    [lprent: I suspect that you are simply a fuckwit trolling. Why?

    Because anyone who knows about the ETS pricing knows that it prices greenhouse gases. Anyone who knows anything about our power generation in NZ knows that there is very little greenhouse gas produced from NZ’s electricity production because it is largely hydro, wind, or geothermal with relatively little power production using hydrocarbons.

    So your comment sounds like a dumbarse slogan that you don’t understand, which I have seen you use it before, seen it refuted, and you evidently didn’t go back to see the responses. I see that you have now started graffiting it through the site and I’d anticipate that you will not look back at the responses to those.

    This is your one and final warning before I start banning you as being a simple machine like troll. If you want to argue something, then argue it. Do not simply assert it without explaining your reasoning – it is boring. Have a two week ban for trolling and wasting my time looking at your previous behaviour. ]

    • Draco T Bastard 10.1

      The ETS only makes fuel based generation more expensive so really easily actually. NZ Power will also be the one contracting the building of new generation.

  11. aerobubble 11

    The prospectus cited regulatory risks form future administrations, and so Labour and Greens were merely fleshing out what that might mean, so reducing uncertainty and so raising the real value of the stock rather than leaving buyers with a huge beware sign. It was sad Key couldn’t see positive capitalism but then he’s a proponent and leader of negative capitalism (i.e. someone must lose).

  12. Chaslands 12

    I am pleased, proud and prosperous from living in NZ all my life. Now I own a slice of Mighty River Power I feel more pleased, prouder, and I expect will be more prosperous. Bring on the next sales!

    • McFlock 12.1

      One of the 3%, eh?
      Parasite.

      • Colonial Viper 12.1.1

        Shearer’s Labour will sort the 3% out.

        • McFlock 12.1.1.1

          Only if they follow your expert advice in winning friends and influencing people, Mr Carnegie.

          • Colonial Viper 12.1.1.1.1

            You’ve mistaken me for someone who gives a shit about that.

            By the way, I know even you don’t believe that Shearer’s Labour is going to sort out the top 3%. And they’re going to stop the Greens and Mana from doing so as well.

            • McFlock 12.1.1.1.1.1

              What you know would leave empty space on a postage stamp.

              • Colonial Viper

                Oh your wicked marvellous intellect, witty and potent in one.

                • McFlock

                  lol
                  The guy who came up with “You’ve mistaken me for someone who gives a shit about that” now fancies himself as a style critic.

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  • 10 days sick leave for employees delivered
    Legislation doubling employees’ minimum sick leave entitlement to 10 days comes into effect today, bringing benefits to both businesses and employees, Workplace Relations and Safety Minister Michael Wood announced today. “Our Government is delivering on a key manifesto commitment to help Kiwis and workplaces stay healthy,” Michael Wood said. “COVID-19 ...
    BeehiveBy beehive.govt.nz
    1 week ago