We should have kept the power company shares
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8:19 am, August 9th, 2024 - 29 comments
Categories: Abuse of power, capitalism, Economy, energy, national, nz first, Politics, Privatisation, Shane Jones, winston peters -
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One of my least favourite Ministers, Shane Jones, went onto radio yesterday and pledged a solution to high power prices.
Consistent with his behaviour to date he thought that opening his mouth and saying a few words would solve things.
There is a problem.
He does not know what he is talking about.
Jawboning the power companies will not be enough.
Because the problems with the electricity market can be related back to two historical events, the establishment of the electricity market by Max Bradford in 1997 and the sell off of power company shares by the John Key National Government.
Bradford’s reforms, which changed the structure of the power sector and allowed power companies to set the price of electricity to that of the most expensive source, has resulted in power companies concentrating on rorting the market rather than delivering new, cheap sources of renewable energy. The reform has been described as “based on inadequate research, rejected key advice, and was logically flawed” and with the benefit of hindsight this is exceedingly clear.
And privatisation meant that the power companies concentrated on the maximisation of payments of dividends, starving themselves of the capital needed to pay for new power generation capacity. It also has cost the country much more than it received. My calculation was that in 2019 it had cost NZ Inc $2.3 billion net. The figure now would be much worse.
This was all covered in detail by the CTU and other organisations in their report Generating Scarcity released two years ago. The report contained these conclusions:
- From 2014 until 2021, the four big generator-retailer firms (the gentailers) have distributed $8.7 billion in dividends off only $5.35 billion earned in profits. Collectively, the gentailers have delivered $3.7 billion in excess dividends to shareholders over this period, averaging $459 million a year.
- The NZ Government is a major beneficiary of this, collecting $1.35 billion in excess dividends as part of the $3.75 billion collected from its 51 percent shareholding over this period. This is an average of $150 million per year.
- Systemic underinvestment in generating capacity has enabled excess dividend distribution, leaving New Zealand’s generating capacity practically flatover the last decade.
- Underinvestment in renewable generation enables high-cost high-emission fossil fuel electricity to set the prices for cheaper renewable electricity, dragging prices up across the market and bolstering profits.
- Excess dividend distribution’s impact is offset by a process of asset revaluations, itself the result of rising electricity prices. Asset revaluations now account for 56 percent of the value of fixed assets held by the three mixed ownership gentailers ($10.9 billion out of $19.6 billion)
This has more than hints of what happened with Enron in the United States. When power companies focus more on financial tricks than actually generating power things can get pretty weird.
Labour previously proposed to have one purchaser of power from the companies and for regulatory power to set the price. This would be a start although the failure of the power companies to invest in new generating capacity is a scandal of itself.
And not that long ago Winston Peters pledged to buy the power company shares back. I wonder what happened there?
As I said previously because of climate change I would prefer that the electricity generators are less profitable and more sustainable. The mixed ownership model is obsessed with financial return and does not care about extraneous matters like survival of the human race.
Expect a lot of noise from the Government about this issue. And very little action.
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Papā te whatitiri, hikohiko te uira, i kanapu ki te rangi, i whētuki i raro rā, rū ana te whenua e. Uea te pou o tōku whare kia tū tangata he kapua whakairi nāku nā runga o Taupiri. Ko taku kiri ka tōkia ki te anu mātao. E te iwi ...2 weeks ago
- Release: Gaps still to be addressed in callouts response
The Government must guarantee New Zealanders will not be at risk after making changes to the way mental health callouts are handled. ...2 weeks ago
- Poroporoaki: Kiingi Tuheitia passing
Haere e te Kīngi o te kotahitangi Haere ki o nui, ki o rahi I te pō ...2 weeks ago
- Green Party pays respects to Kiingi Tuuheitia
The Green Party is paying tribute to the Māori King, Kiingi Tuuheitia Pootatau Te Wherowhero XVII, after he passed away earlier this morning. ...2 weeks ago
- Potaka Brings Whakaata Māori to its Knees
Today’s Whakaata Māori announcement is yet another colossal failure from Minister Potaka, who has turned his back on te reo Māori, forcing a channel offline, putting whānau out of jobs, and cutting Māori content, says Te Pāti Māori. “A Senior Māori Minister has turned his back on Te Reo Māori. ...2 weeks ago
- Release: National restricts access to disability care homes
With disability communities still reeling from the diminishing of Whaikaha, a leaked document now reveals another blow with National restricting access to residential care homes. ...2 weeks ago
- Release: Govt must help save 230 manufacturing jobs
Labour is calling on the Government and Mercury Energy to find a solution to the proposed Winstone Pulp mill closure and save 230 manufacturing jobs. ...2 weeks ago
- Govt shirks its responsibility to Whakaata Māori
The Green Party has called out the Government for allowing Whakaata Māori to effectively collapse to a shell of its former self as job cuts and programming cuts were announced at the broadcaster today. ...2 weeks ago
- NZ First Member’s Bill To Disestablish Auckland Transport
Today New Zealand First has introduced a Member’s Bill that will restore democratic control over transport management in Auckland City by disestablishing Auckland Transport (AT) and returning control to Auckland Council. The ‘Local Government (Auckland Council) (Disestablishment of Auckland Transport) Amendment Bill’ intends to restore democratic oversight, control, and accountability ...2 weeks ago - Release: PM fails in constitutional role and leadership
The failure of the Prime Minister to condemn his Minister for personally attacking the judiciary is another example of this Government riding roughshod over important constitutional rules. ...2 weeks ago
- Waititi urges Rotorua Lakes Council to immediately stop works at Lake Rotokākahi
Te Pāti Māori co-leader and Member of Parliament for Waiariki, which includes Rotorua, has written to Rotorua Lakes Councillors requesting they immediately stop sewerage piping works at Lake Rotokākahi in Rotorua. “Mana whenua have been urging Rotorua Lakes Council to stop works and look at alternative plans to protect the ...2 weeks ago
- Release: Patient care at risk from redundancies
Patient care could suffer as a result of further cuts to the health system, which could lose thousands of staff who keep our hospitals and clinics running. ...2 weeks ago
- Greens call on Govt to wake up on child poverty
The Green Party says the latest statistics on child poverty in this country highlight the callous approach that the Government is taking on this issue of national shame. ...2 weeks ago
- Release: Police are off the beat under National
Foot patrols around the country have decreased 15 percent since National took office, despite National’s Mark Mitchell claiming otherwise. ...2 weeks ago
- Release: Climate denial is an insult to Pacific leaders
Winston Peters’ climate denialism at the Pacific Islands’ Forum is an embarrassing new low. ...2 weeks ago
- Govt must end solitary confinement
The Green Party is urging the Government to end the use of solitary confinement within our prisons after new research revealed some prisoners have been held in confinement for more than 900 days. ...2 weeks ago
- Fossil fuels never the answer in climate crisis
The Government’s moves to enable the import of Liquefied Natural Gas is another step away from the sustainable and affordable energy network that this country needs. ...2 weeks ago
- Government must respect Court’s Uber employee decision
Today’s court ruling upholding the rights of Uber drivers is a message to the Government that it must not tamper with employment protections. ...2 weeks ago
- Release: Uber court decision recognises workers’ rights
The Court of Appeal decision that Uber drivers are entitled to employee rights such as minimum wage, sick leave, holiday pay and collective bargaining is welcome news for the drivers involved and their unions. ...2 weeks ago
- Release: Labour calls on Govt to divest from illegal settlements
The Labour Party is calling on the Government to tell the two major wealth funds, the NZ Super Fund and ACC, to withdraw investments from companies listed by the United Nations as complicit in Israel’s illegal settlements in the Occupied Palestinian Territories. ...2 weeks ago
- Labour’s misleading information is disappointing
Labour’s misinformation about firearms law is dangerous and disappointing, Associate Justice Minister Nicole McKee says. “Labour and Ginny Andersen have repeatedly said over the past few days that the previous Labour Government completely banned semi-automatic firearms in 2019 and that the Coalition Government is planning to ‘reintroduce’ them. ...2 hours ago - Govt takes action on mpox response, widens access to vaccine
The Government is taking immediate action on a number of steps around New Zealand’s response to mpox, including improving access to vaccine availability so people who need it can do so more easily, Health Minister Dr Shane Reti and Associate Health Minister David Seymour announced today. “Mpox is obviously a ...5 hours ago
- Next steps agreed for Treaty Principles Bill
Associate Justice Minister David Seymour says Cabinet has agreed to the next steps for the Treaty Principles Bill. “The Treaty Principles Bill provides an opportunity for Parliament, rather than the courts, to define the principles of the Treaty, including establishing that every person is equal before the law,” says Mr Seymour. “Parliament ...8 hours ago
- Government unlocking potential of AI
Science, Innovation and Technology Minister Judith Collins today announced a programme to drive Artificial Intelligence (AI) uptake among New Zealand businesses. “The AI Activator will unlock the potential of AI for New Zealand businesses through a range of support, including access to AI research experts, technical assistance, AI tools and resources, ...9 hours ago
- Government releases Wairoa flood review findings
The independent rapid review into the Wairoa flooding event on 26 June 2024 has been released, Environment Minister Penny Simmonds, Local Government Minister Simeon Brown and Emergency Management and Recovery Minister Mark Mitchell announced today. “We welcome the review’s findings and recommendations to strengthen Wairoa's resilience against future events,” Ms ...9 hours ago
- Promoting faster payment times for government
The Government is sending a clear message to central government agencies that they must prioritise paying invoices in a timely manner, Small Business and Manufacturing Minister Andrew Bayly says. Data released today promotes transparency by publishing the payment times of each central government agency. This data will be published quarterly ...9 hours ago
- Acknowledgement to Kīngi Tuheitia speech
E te māngai o te Whare Pāremata, kua riro māku te whakaputa i te waka ki waho moana. E te Pirimia tēnā koe.Mr Speaker, it is my privilege to take this adjournment kōrero forward. Prime Minister – thank you for your leadership. Taupiri te maunga Waikato te awa Te Wherowhero ...1 day ago
- Interim fix to GST adjustment rules to support businesses
Inland Revenue can begin processing GST returns for businesses affected by a historic legislative drafting error, Revenue Minister Simon Watts says. “Inland Revenue has become aware of a legislative drafting error in the GST adjustment rules after changes were made in 2023 which were meant to simplify the process. This ...1 day ago
- Strong uptake for cervical screening self-test
More than 80 per cent of New Zealand women being tested have opted for a world-leading self-test for cervical screening since it became available a year ago. Minister of Health Dr Shane Reti and Associate Minister Casey Costello, in her responsibility for Women’s Health, say it’s fantastic to have such ...1 day ago
- Ministry for Regulation’s first Strategic Intentions document sets ambitious direction
Regulation Minister David Seymour welcomes the Ministry for Regulation’s first Strategic Intentions document, which sets out how the Ministry will carry out its work and deliver on its purpose. “I have set up the Ministry for Regulation with three tasks. One, to cut existing red tape with sector reviews. Two, ...1 day ago
- Māori Education Advisory Group established
The Education Minister has established a Māori Education Ministerial Advisory Group made up of experienced practitioners to help improve outcomes for Māori learners. “This group will provide independent advice on all matters related to Māori education in both English medium and Māori medium settings. It will focus on the most impactful ways we can lift ...1 day ago
- Government welcomes findings of NZ Superannuation Fund review
The Government has welcomed the findings of the recent statutory review into the Guardians of New Zealand Superannuation and the New Zealand Superannuation Fund, Minister of Finance Nicola Willis says. The 5-yearly review, conducted on behalf of Treasury and tabled in Parliament today, found the Guardians of New Zealand Superannuation ...1 day ago
- First of five new Hercules aircraft takes flight
Defence Minister Judith Collins today welcomed the first of five new C-130J-30 Hercules to arrive in New Zealand at a ceremony at the Royal New Zealand Air Force’s Base Auckland, Whenuapai. “This is an historic day for our New Zealand Defence Force (NZDF) and our nation. The new Hercules fleet ...1 day ago
- Have your say on suicide prevention
Today, September 10 is World Suicide Prevention Day, a time to reflect on New Zealand’s confronting suicide statistics, Mental Health Minister Matt Doocey says. “Every death by suicide is a tragedy – a tragedy that affects far too many of our families and communities in New Zealand. We must do ...1 day ago
- Action to grow the rural health workforce
Scholarships awarded to 27 health care students is another positive step forward to boost the future rural health workforce, Associate Health Minister Matt Doocey says. “All New Zealanders deserve timely access to quality health care and this Government is committed to improving health outcomes, particularly for the one in five ...2 days ago
- Pharmac delivering more for Kiwis following major funding boost
Associate Health Minister with responsibility for Pharmac David Seymour has welcomed the increased availability of medicines for Kiwis resulting from the Government’s increased investment in Pharmac. “Pharmac operates independently, but it must work within the budget constraints set by the Government,” says Mr Seymour. “When our Government assumed office, New ...2 days ago
- Sport Minister congratulates NZ’s Paralympians
Sport & Recreation Minister Chris Bishop has congratulated New Zealand's Paralympic Team at the conclusion of the Paralympic Games in Paris. “The NZ Paralympic Team's success in Paris included fantastic performances, personal best times, New Zealand records and Oceania records all being smashed - and of course, many Kiwis on ...2 days ago
- Government progresses response to Abuse in Care recommendations
A Crown Response Office is being established within the Public Service Commission to drive the Government’s response to the Royal Commission into Abuse in Care. “The creation of an Office within a central Government agency was a key recommendation by the Royal Commission’s final report. “It will have the mandate ...5 days ago
- Passport wait times back on-track
Minister of Internal Affairs Brooke van Velden says passport processing has returned to normal, and the Department of Internal Affairs [Department] is now advising customers to allow up to two weeks to receive their passport. “I am pleased that passport processing is back at target service levels and the Department ...5 days ago
- New appointments to the FMA board
Commerce and Consumer Affairs Minister has today announced three new appointments and one reappointment to the Financial Markets Authority (FMA) board. Tracey Berry, Nicholas Hegan and Mariette van Ryn have been appointed for a five-year term ending in August 2029, while Chris Swasbrook, who has served as a board member ...5 days ago
- District Court judges appointed
Attorney-General Hon Judith Collins today announced the appointment of two new District Court judges. The appointees, who will take up their roles at the Manukau Court and the Auckland Court in the Accident Compensation Appeal Jurisdiction, are: Jacqui Clark Judge Clark was admitted to the bar in 1988 after graduating ...5 days ago
- Government makes it faster and easier to invest in New Zealand
Associate Minister of Finance David Seymour is encouraged by significant improvements to overseas investment decision timeframes, and the enhanced interest from investors as the Government continues to reform overseas investment. “There were about as many foreign direct investment applications in July and August as there was across the six months ...5 days ago
- New Zealand to join Operation Olympic Defender
New Zealand has accepted an invitation to join US-led multi-national space initiative Operation Olympic Defender, Defence Minister Judith Collins announced today. Operation Olympic Defender is designed to coordinate the space capabilities of member nations, enhance the resilience of space-based systems, deter hostile actions in space and reduce the spread of ...6 days ago
- Government commits to ‘stamping out’ foot and mouth disease
Biosecurity Minister Andrew Hoggard says that a new economic impact analysis report reinforces this government’s commitment to ‘stamp out’ any New Zealand foot and mouth disease incursion. “The new analysis, produced by the New Zealand Institute of Economic Research, shows an incursion of the disease in New Zealand would have ...6 days ago
- Improving access to finance for Kiwis
5 September 2024 The Government is progressing further reforms to financial services to make it easier for Kiwis to access finance when they need it, Commerce and Consumer Affairs Minister Andrew Bayly says. “Financial services are foundational for economic success and are woven throughout our lives. Without access to finance our ...6 days ago
- Prime Minister pays tribute to Kiingi Tuheitia
As Kiingi Tuheitia Pootatau Te Wherowhero VII is laid to rest today, Prime Minister Christopher Luxon has paid tribute to a leader whose commitment to Kotahitanga will have a lasting impact on our country. “Kiingi Tuheitia was a humble leader who served his people with wisdom, mana and an unwavering ...6 days ago
- Resource Management reform to make forestry rules clearer
Forestry Minister Todd McClay today announced proposals to reform the resource management system that will provide greater certainty for the forestry sector and help them meet environmental obligations. “The Government has committed to restoring confidence and certainty across the sector by removing unworkable regulatory burden created by the previous ...6 days ago
- More choice and competition in building products
A major shake-up of building products which will make it easier and more affordable to build is on the way, Building and Construction Minister Chris Penk says. “Today we have introduced legislation that will improve access to a wider variety of quality building products from overseas, giving Kiwis more choice and ...6 days ago
- Joint Statement between the Republic of Korea and New Zealand 4 September 2024, Seoul
On the occasion of the official visit by the Right Honourable Prime Minister Christopher Luxon of New Zealand to the Republic of Korea from 4 to 5 September 2024, a summit meeting was held between His Excellency President Yoon Suk Yeol of the Republic of Korea (hereinafter referred to as ...1 week ago
- Comprehensive Strategic Partnership the goal for New Zealand and Korea
Prime Minister Christopher Luxon held a bilateral meeting today with the President of the Republic of Korea, Yoon Suk Yeol. “Korea and New Zealand are likeminded democracies and natural partners in the Indo Pacific. As such, we have decided to advance discussions on elevating the bilateral relationship to a Comprehensive ...1 week ago
- International tourism continuing to bounce back
Results released today from the International Visitor Survey (IVS) confirm international tourism is continuing to bounce back, Tourism and Hospitality Minister Matt Doocey says. The IVS results show that in the June quarter, international tourism contributed $2.6 billion to New Zealand’s economy, an increase of 17 per cent on last ...1 week ago
- Government confirms RMA reforms to drive primary sector efficiency
The Government is moving to review and update national level policy directives that impact the primary sector, as part of its work to get Wellington out of farming. “The primary sector has been weighed down by unworkable and costly regulation for too long,” Agriculture Minister Todd McClay says. “That is ...1 week ago
- Weak grocery competition underscores importance of cutting red tape
The first annual grocery report underscores the need for reforms to cut red tape and promote competition, Commerce and Consumer Affairs Minister Andrew Bayly says. “The report paints a concerning picture of the $25 billion grocery sector and reinforces the need for stronger regulatory action, coupled with an ambitious, economy-wide ...1 week ago
- Government moves to lessen burden of reliever costs on ECE services
Associate Education Minister David Seymour says the Government has listened to the early childhood education sector’s calls to simplify paying ECE relief teachers. Today two simple changes that will reduce red tape for ECEs are being announced, in the run-up to larger changes that will come in time from the ...1 week ago
- Over 2,320 people engage with first sector regulatory review
Regulation Minister David Seymour says there has been a strong response to the Ministry for Regulation’s public consultation on the early childhood education regulatory review, affirming the need for action in reducing regulatory burden. “Over 2,320 submissions have been received from parents, teachers, centre owners, child advocacy groups, unions, research ...1 week ago
- Government backs women in horticulture
“The Government is empowering women in the horticulture industry by funding an initiative that will support networking and career progression,” Associate Minister of Agriculture, Nicola Grigg says. “Women currently make up around half of the horticulture workforce, but only 20 per cent of leadership roles which is why initiatives like this ...1 week ago
- Government to pause freshwater farm plan rollout
The Government will pause the rollout of freshwater farm plans until system improvements are finalised, Agriculture Minister Todd McClay, Environment Minister Penny Simmonds and Associate Environment Minister Andrew Hoggard announced today. “Improving the freshwater farm plan system to make it more cost-effective and practical for farmers is a priority for this ...1 week ago
- Milestone reached for fixing the Holidays Act 2003
Minister for Workplace Relations and Safety Brooke van Velden says yesterday Cabinet reached another milestone on fixing the Holidays Act with approval of the consultation exposure draft of the Bill ready for release next week to participants. “This Government will improve the Holidays Act with the help of businesses, workers, and ...1 week ago
- New priorities to protect future of conservation
Toitū te marae a Tāne Mahuta me Hineahuone, toitū te marae a Tangaroa me Hinemoana, toitū te taiao, toitū te tangata. The Government has introduced clear priorities to modernise Te Papa Atawhai - The Department of Conservation’s protection of our natural taonga. “Te Papa Atawhai manages nearly a third of our ...1 week ago
- Faster 110km/h speed limit to accelerate Kāpiti
A new 110km/h speed limit for the Kāpiti Expressway Road of National Significance (RoNS) has been approved to reduce travel times for Kiwis travelling in and out of Wellington, Transport Minister Simeon Brown says. “Boosting economic growth and productivity is a key part of the Government’s plan to rebuild the economy. ...1 week ago
- Trump and Harris trade insults and competing visions: our experts give their verdicts on the US pres...
Source: The Conversation (Au and NZ) – By Emma Shortis, Adjunct Senior Fellow, School of Global, Urban and Social Studies, RMIT University Emma Shortis is senior researcher in international and security affairs at The Australia Institute, an independent think tank. Matthew Ricketson does not work for, consult, own shares ...1 hour ago - ‘It’s okay to poo at work’: new health campaign highlights a common source of anxiety
Source: The Conversation (Au and NZ) – By Simon Robert Knowles, Associate Professor and Clinical Psychologist, Swinburne University of Technology Queensland Health/Instagram For most people, the daily or near-daily ritual of having a bowel motion is not something we give a great deal of thought to. But for some ...1 hour ago
- The Princess of Wales wants to stay cancer-free. What does this mean?
Source: The Conversation (Au and NZ) – By Amali Cooray, PhD Candidate in Genetic Engineering and Cancer, WEHI (Walter and Eliza Hall Institute of Medical Research) Pete Hancock/Shutterstock Catherine, Princess of Wales, has announced she has now completed a course of preventive chemotherapy. The news comes nine months after ...1 hour ago
- With a million home batteries, we could build far fewer power lines. We just need the right incentiv...
Source: The Conversation (Au and NZ) – By Scott Hamilton, Adjunct associate professor, Department of Chemical and Biological Engineering, Monash University It’s no secret Australia has abundant and cheap renewable energy, especially wind and solar power. But yes, there are times when the sun doesn’t shine and the wind doesn’t ...1 hour ago
- Should parents be worried about social media? We asked 5 experts
Source: The Conversation (Au and NZ) – By Judith Ireland, Education Editor, The Conversation, Australia Trock.kc/Shutterstock , CC BY The Albanese government has announced it will introduce a social media ban for children. The government has not yet nominated a minimum age but is trialling age-assurance mechanisms for ...1 hour ago
- X account posing as an ‘MFAT insider’ likely a disgruntled former employee – minis...
Speaking to reporters this afternoon, Winston Peters confirmed he had been briefed about it. ...2 hours ago - Buried treasures: how seeds help us learn about fire in the Australian landscape
Source: The Conversation (Au and NZ) – By Ella Plumanns Pouton, Researcher in Ecology, The University of Melbourne Fire is a natural part of Australian ecosystems. Many plants have developed ways to adapt and even thrive after fire. They may store their seeds in the soil, ready to sprout after ...2 hours ago
- Athletes’ bodies are supposedly temples. So why do so many consume ultra-processed foods?
Source: The Conversation (Au and NZ) – By Evangeline Mantzioris, Program Director of Nutrition and Food Sciences, Accredited Practising Dietitian, University of South Australia Even the most casual sports fan would have seen athletes gulping down sports drinks after a contest or even snacking on something like a protein ball ...3 hours ago
- As cities axe shared e-scooters, the many more personally owned ones are in a blind spot
Source: The Conversation (Au and NZ) – By Ferdinand Balfoort, PhD Candidate in Law, Charles Darwin University Recent decisions by the Melbourne City and Sunshine Coast councils to end contracts with operators of shared e-scooters have reignited debate around this form of transport. It ticks many sustainability boxes, yet continues ...5 hours ago
- Labour is talking about a wealth tax again – what are its options and what might work?
Source: The Conversation (Au and NZ) – By Jonathan Barrett, Associate Professor in Commercial Law and Taxation, Te Herenga Waka — Victoria University of Wellington Labour Party leader Chris Hipkins recently revealed the party is looking once again at it’s tax policy, including a possible wealth tax or a “capital ...5 hours ago
- It’s a big deal if Australia and the Pacific are chosen to host UN climate talks. Here’s why
Source: The Conversation (Au and NZ) – By Wesley Morgan, Research Associate, Institute for Climate Risk and Response, UNSW Sydney chinasong/Shutterstock It’s now very likely Australia will be announced as the host of the COP31 global climate talks in 2026 alongside Pacific nations. This would be a very big ...5 hours ago
- Spark’s inaugural gaming festival was for the kids, and kids at heart
Last weekend, Spark Arena hosted Aotearoa’s largest gaming festival. Sam Brooks attended to see what all the fuss was about. “ALL YOUR LIVES HAVE LED TO THIS.” This slogan was emblazoned across multiple screens inside Spark Arena this past Saturday, as a couple thousand people attended the country’s “largest gaming ...5 hours ago - Rightwing astroturfers infiltrate Australian local councils, fire up unrest over Israel
With similar Israel divestment motions having been passed at City of Sydney and Canterbury/Bankstown Councils, many had expected the motion to pass in what is supposed to be one of the most progressive areas of Sydney. Wendy Bacon reports on what went wrong. INVESTIGATION: By Wendy Bacon Israel’s genocidal war ...6 hours ago
- ACC proposes rises in levies to fund future injury costs
It says the number of injuries has been rising, as has the cost of treating them and rehabilitation. ...6 hours ago
- Treaty Principles Bill: Officials advise government against redefining principles
The Ministry of Justice told the coalition the bill isn't "grounded in the Treaty" and isn't supported by evidence. ...6 hours ago
- You won’t believe what happened on Shortland Street on 9/11
In the midst of the most shocking news event of the 21st century, Shortland Street was trying out one of its most bizarre and ambitious storylines ever. There’s a psychological phenomenon around 9/11, where tonnes of people have misremembered where they were when they first heard that a plane hit ...6 hours ago
- Government to launch AI chatbot called Gov-GPT
Judith Collins says it will help people find information about government agencies. ...7 hours ago
- Commerce Minister plays down rift between National, ACT over supermarkets
It comes as the coalition partners dig in on their opposing positions on whether or not to ramp-up regulation. ...8 hours ago
- New Caledonia crisis: Unrest-hit Air Calédonie in search of new markets
By Patrick Decloitre, RNZ Pacific correspondent French Pacific desk New Caledonia’s domestic carrier Air Calédonie is set to launch a biweekly international connection to neighbouring Vanuatu. The new link is set to start operating from October 3 with two return flights, one on Mondays and the other on Thursdays. The ...8 hours ago
- How can everyone be part of the AI revolution?
AI technology is an increasingly common part of many people’s working lives – but not everyone has the opportunity to benefit equally. Dr Jade Brooks tells Alice Webb Liddall about her research into how workplaces can bridge the digital divide. The vision “that all of us have what we need ...8 hours ago
- Is it possible to keep your voice and your soul while writing for an international market?
Sascha Stronach (Kāi Tahu), author of The Dawnhounds and The Sunforge, on fighting US editors on matters of New Zealand slang. I had two knockdown dragout fights with my US publisher: they wanted to call me “a bold and important voice in Māori fiction”; they thought “moggy” sounded like ...8 hours ago
- Fuel shortages and bare pharmacies: we need to talk about what a possible war with China could look ...
Source: The Conversation (Au and NZ) – By William A. Stoltz, Lecturer and expert Associate, National Security College, Australian National University Jenari/Shutterstock The intensifying great power competition between the People’s Republic of China and the United States has meant the possibility of future war in the Indo-Pacific region has ...10 hours ago
- Meningococcal: what to know about this potentially deadly disease affecting Australian children
Source: The Conversation (Au and NZ) – By Phoebe Williams, Paediatrician & Infectious Diseases Physician; Senior Lecturer & NHMRC Fellow, Faculty of Medicine, University of Sydney Gorodenkoff/Shutterstock Three children in far north Queensland have recently become unwell with meningococcal disease, a life-threatening infection caused by the bacteria Neisseria meningitidis. ...10 hours ago
- The commercial broadcasters’ crisis isn’t new, but can no longer be ignored. What’s next for T...
Source: The Conversation (Au and NZ) – By Amanda Lotz, Professor of Media Studies, Queensland University of Technology Stock-Asso/Shutterstock This is the third piece in a series on the Future of Australian media. You can read the first piece in the series here and the second piece here. ...10 hours ago
- One person working on short-term fixes to NZ’s disaster coordination system
The National Emergency Management Agency has just one person dedicated to working on a short-term fix of the disaster coordination system that let people down during Cyclone Gabrielle. ...10 hours ago
- Should we follow Australia’s efforts to ban children from social media?
Australia is proposing legislation to impose a minimum age and Labour leader Chris Hipkins says he's open to the idea. ...10 hours ago
- Crystals hold a secret history of volcanoes – and clues about future eruptions
Source: The Conversation (Au and NZ) – By Teresa Ubide, ARC Future Fellow and Associate Professor in Igneous Petrology/Volcanology, The University of Queensland An eruption at Mt Stromboli in Italy. J Caulfield Imagine you had a crystal ball that revealed when a volcano would next erupt. For the hundreds of ...10 hours ago
- The future of the Regent Theatre: why we must preserve not only architecture, but also public use of...
Source: The Conversation (Au and NZ) – By Peter Tregear, Principal Fellow and Professor of Music, The University of Melbourne Regent Theatre, 1954. State Library Victoria The current Lord Mayor of Melbourne, Nicholas Reece, has said that if re-elected he would sell the City of Melbourne’s majority stake in ...10 hours ago
- The stories that defined The Spinoff
An incomplete collection of memorable Spinoff articles. In 10 years (and one day) The Spinoff has published 28,691 stories. Features, opinion, satire, profiles, experiential stunts and anything else you can think of. There really is no way to define our work but here is a futile attempt to track The ...10 hours ago
- ACC needs to cover $1 billion revenue hole
ACC has signalled levies will need to take a significant jump to cover increasing costs. ...10 hours ago
- Cost of living: Are New Zealand households better off now than in 1994?
Here's how modern households compare to those of 30 years ago, and why you might have been better off in 1994. ...11 hours ago
- The human face of the electricity crisis
The closure of two mills near Ohakune will mean the loss of 230 jobs, writes Stewart Sowman-Lund in today’s extract from The Bulletin. To receive The Bulletin in your inbox every weekday morning, sign up here. ...12 hours ago
- Winstone Pulp closures: ‘It’s just a really bad day for those communities’ –...
National's local MP for the Ruapehu District says she is "absolutely gutted" for workers and families affected by the closure of Winstone Pulp International's two mills in the region. ...12 hours ago
- Visa fees and levies don’t stack up – immigration adviser
Overseas tourists and students will be hit with a 'hidden tax' when they apply for visas and they risk being misled about the cost, according to an immigration adviser. ...12 hours ago
- Treaty Principles Bill to go through six-month select committee process
That will take the ACT-led debate past Rātana celebrations and Waitangi Day next year - when the government will likely be challenged again on the issue. ...13 hours ago
- What is supplier diversity, why does it matter and why should I care?
It’s playing a key role in the growth of indigenous and minority businesses around the world. In Aotearoa, the journey is just beginning. Most New Zealanders are likely unfamiliar with the term “supplier diversity”. However, in the business world, ensuring a diverse supply chain is quickly becoming essential – and ...14 hours ago
- Sending money overseas can be expensive. Who does it hurt the most?
There are lots of services promising to make international money transfer more affordable, without adding on the fees that banks charge. But people in New Zealand regularly sending money to Pacific countries have limited options. Every day, people with New Zealand bank accounts transfer millions of dollars to other countries. ...14 hours ago
- PNG calls in Sir Jerry Mateparae for Bougainville independence talks
The former governor-general has been chosen to help resolve the impasse over the future of the Bougainville autonomous region The post PNG calls in Sir Jerry Mateparae for Bougainville independence talks appeared first on Newsroom. ...14 hours ago - Health commissioner ousts chief financial officer after big deficits
Te Whatu Ora is believed to be paying nearly $1 million more in senior executive salaries since Lester Levy was parachuted in to cut costs. An attempt to quietly excise the CFO has turned septic. The post Health commissioner ousts chief financial officer after big deficits appeared first on Newsroom. ...14 hours ago
- Kay and Karl, the old team
My Catullus poems, which have come and gone at intervals over the past half century, have never been translations from the Latin, though some have borrowed; and never ‘confessional poems’, though how close to ‘truth’ and how far from it has always been unclear. How ‘real’ was my Clodia, who ...14 hours ago
We'd solve all our power issues if only we could figure out how to harness the emissions of that pompous windbag Shane Jones.
The oleaginous Mercury energy PR flack was completely unrepentant on RNZ this morning, trotting out all the tired old cliches and obfuscations in defence of their price gouging and lack of investment which should tell us they'll pay five minutes attention to Shane Jones bombastic verbiage, and four minutes of that will be laughing. If you want to know what will happen to your water bill if that is sold off, just consider the rent seeking gentailers!
The only solution is re-nationalisation of the electricity sector, which no one is currently proposing to do so we'll stagger along in broken NZ, home of the rent seeking cartel from banks to energy to supermarkets to DIY etc etc etc etc.
Mercury has built multiple wind farms at scale in the last 4 years, including Turitea which is our biggest.
I'll generate a post on Solar Zero and distributed energy feeds in a week or so.
The Pioneer solar out of Taupo and the other one near Kaitaia aren't small for NZ.
Exactly, this is the way.
Or make them subject to reguation by government.
I believe all of these arguments were made at the time, yet here we are. The issue is we have 2 opposed ideologies attempting to appear similar to get elected, all the whilehiding their true agendas. NZ needs to take things like electricity, transport, health, and education out of the hands of politicians and have boards staffed by experts, informed by best practices. What we do have is corruption, blatant in-your-face corruption masquerading as ideology. It is not acceptable for ANY government to be passing laws on "feels" and somehow we need to institute a mechanism to rein in the Costellos, Jones and other piggies elbowing each other at the trough.
The artificial power market created by National–bludging on hydro power built by previous generations and taxpayers–was always mere free market exploitation, based around price gouging. The gentailers have very little new infrastructure to show for all those years or even keeping up adequate maintenance.
And let’s not forget Rio Tinto and that accursed polluting smelter–using a huge amount of power at bargain basement prices and sending the profits offshore. They should be sent packing and the power allocated to the national grid.
Power generation and lines supply needs to be returned to full public ownership asap–without compensation if the retailers do not go quietly. Has anyone noticed that Masturbation Jones is only advocating for corporates and business, what about people that cannot afford to turn the heaters on and wrap up in blankets and hot water bottles? Fossil Gas, new supplies of which the Govt seems to be fast tracking, is not the answer! The CoC vandals really do have a fundamentalist screw loose, Natzo politicians it seems were no more exempt from online craziness than others in the population.
An example of how disfunctional power systems have become, in the Far North we have a geo thermal power plant–Ngawha Springs–that generates enough to power the region…but, due to lines infrastructure configuration Ngawha power goes into the national grid instead.
So when the recent “Pylon Power Cut” occurred, essentially severing national grid connection, Tai Tokerau could not access the power it had generated and the cost was many millions which is unlikely to ever be compensated for.
+1000
Failure is close-to inevitable in the short term ie this year, and a whole lot more destabilising to NZ than the ferry debacle.
Minister Brown could continue the work of the previous government to form a proper regulatory framework for offshore wind farms. That would assist our big NZSuper proposal.
I'm stunned how quickly consequences has crashed the party for National. They were very quick at killing the NZ Battery project, which was about the current situation of a dry year and low storage. If Labour had still been government, Onslow would have been all go, and fast.
Hopefully there will be a rethink on Onslow, along with action on offshore wind, and lots of it.
Although just waiting for Jones to say coal fired thermal is the solution…
Opinion piece here that the current power prices are worse for the reputation of the last government than the current one (the uncertainty around Onslow discouraged investment in other forms of generation)
It's the 'race' issues which are bad news for the coalition.
https://www.nzherald.co.nz/nz/politics/opinion-government-risks-being-overwhelmed-by-race/AQ3AVJ74PNFBJH4OZUTQW6YEUU/
https://archive.ph/glHqQ
So 40 of financialization has led us to this.
And the solution from the Mammonites in power – doubled down on the ideology, which caused the problem in the first place.
Yeah right…
The problem is Adam anyone under 60 has spent there whole life watching or quality of life and services available in this country decline and we've kinda just got to the that's the way it is stage, of acceptance.
I am curious as to why we don't have more geothermal energy being built, particularly in the North Island.
I heard an interview on RNZ recently with a scientist who was of the opinion we are world leaders of this.
I understand we are info sharing with other nations and the exciting prospects are for going deeper and using steam @ 400°C.
I have had a brief look but can't find a link on my fone.
Wind turbines are incredibly energy dense, mind boggling amounts of concrete buried in the Earth to hold up the towers.
Add to that, moving parts in essentially a marine environment.
Anton Oliver was on to something when he opposed the Hayes wind farm back in the mid 2000s.
He reckoned they were only viable because of the accounting trickery which Mickey alludes to that the power companies are doing now.
Geothermal does emit some greenhouse gases. There are improvements in capturing those emissions… more information here:
https://www.geothermal-energy.org/pdf/IGAstandard/NZGW/2020/044.pdf
See Table 2 in document above for lifecycle emissions of different energy types in NZ.
Just wondering: what are the chances of geothermal infrastructure sustaining damage in an earthquake? Wairakei's been going a good while now – how many such "episodes" has it been forced to deal with?
It isn’t as bad as you’re expect. You’re likely to lose some bores in the event of something large and close. But that happens all of the time anyway from various buildups. That is why there are a lot of bores and a almost continuous boring program.
The power generating plant in NZ are usually not on the top of hills and don’t generally have slip problems (this report was fun to read).
Generating facilities are built for earthquakes because shallow geothermal are always located in earthquake zones. Plus the use of geothermal can cause small tremors themselves and also subsidence.
Typically they don’t have single points of catastrophic (ie explosive) failure because they aren’t particularly high temperature or high pressure compared to most thermal sourced electricity. That means that they aren’t subjected to anything like the stresses that a thermal power station has. And everything from the pipes, condensors, separators to the pumps to the turbines are smaller and more distributed. These days computers do most of the monitoring and shutdowns fast.
What I’d be worried about aren’t earthquakes. It would be the really big eruptions, like Taupo Hatepe level. But if those happened, the electrical power would probably be the least of our problems.
I had a good look around plants in the early 1980s as part of my degree, and studied some stuff on the newer binary plants later.
Umm… https://en.wikipedia.org/wiki/Geothermal_power
Many thanks for that, LP. Quite reassuring.
When compared to thermal.
https://www.researchgate.net/figure/The-amount-of-raw-material-per-megawatt-t-MW-required-for-a-range-of-energy-production_fig1_322054349
In short too hard, no money, no capacity, no will.
"In short too hard, no money, no capacity, no will."
Sounds like 21st century Aotearoa.
Ad: Urrghh. Bad HTML
There was a </ul> in the wrong place after the first bullet point, and everything else was <li></li>. It broke the rest of the page.
I will have to investigate how to prevent that from happening. Pretty sure that it was meant to be blocked.
There is a new geothermal power station being built right now, about 2 ks from my house east of Rotorua.
If I remember correctly Key's Cats wanted to sell off 100%, if given their own way.
It was known then that the cost of new power was higher than historic hydro, thus holding onto ownership would mean CG.
But the then government decided to enable those with spare money to make the CG rather than government – leading to less well resourced government in the future. As a deliberate policy indicative of a purpose inimical to those outside of a class seeking more resources to itself.
In the current matter, it was decided earlier to use price to ration demand at peak periods – business users.
The intelligent ones would
1. seek lower price contracts in return for reducing demand at peak demand or low hydro supply years.
2. have plans for reducing production during times when power cost made this uneconomic
Yet instead we hear no reference to Comalco at all (and no one copying their practice to reduce power cost) and instead of a temporary reduction in production for one period in one year in 5 etc, assertions they will have to close down permanently if government does not reduce/subsidise market prices when they get high.
Second world status and still declining has to have a cause. Here it is class and entitlement.
The political right have always thought they could make things happen by talk.
I remember when, in the fourth Labour government, The Rogernome declared that the trick to defying inflation and bringing the exchange rate of the dollar down was "to talk it down".
Just what a dismal failure that was is there in history.
You actually have to do things, not just talk political slogans and threats. This CoC is good at threatening people that have little power such as the unemployed and foreign workers, but don't have the balls to take on the mega profit makers such as the banks and power companies.
Everything in our "free market" – except our precious public sector – is controlled by a cosy cartel taking excess profits.
Banks, Electricity, Petrol, Supermarkets, Transport, Housing
Any actual "left wing" government that tries to mitigate this situation on behalf of Kiwi workers and consumers, is quickly deposed by the oligarchy.
Am pretty sure the 4th Labour Government did a lot – it transformed the NZ social and economic landscape – a lot more than talk and slogans.
Indeed, the angst expressed on TS is all around the action that the current government is taking (in a range of areas: both legislative and administrative) – and the speed of the action, without allowing for debate. Areas like the fast-tracking of consents, changes of curriculum, dismissing the Health NZ board and appointing a commissioner. It's the actions that are being disapproved of.
Because unlike past governments, Luxon's "to-do" list is not based on policy, or building anything, or a vision for the future. It's all about cancelling and wrecking everything Labour did, unwinding Māori rights and trying to burn Te Tiriti, talking a lot of shit while him and his landlord mates fill their pockets and avoid paying their fair share.
You appear to be agreeing with me, that the OP comment "political right have always thought they could make things happen by talk" – is thoroughly wrong in the current context.
To point out the obvious: Labour had six years, three as a majority government, to buy back the shares – ideally at the price they were sold for. They did nothing.