As Genesis Energy announces a nearly doubled half-year profit of $70.3 million, we must question the cost of these soaring profits. While the energy company boasts about record earnings due to high wholesale prices, the reality is that these gains come at the expense of hardworking whānau and struggling businesses in rural Aotearoa.

“We have got an energy insecurity problem in Aotearoa, but it is not because the last government scaled back coal mining,” said Te Pāti Māori co-leader, Debbie Ngarewa-Packer.

“Our energy can never be secure so long as it is in the hands of greedy corporations who only care about their profits.

“Every winter, more than 110,000 households across this country go without adequate heating because of high energy prices. Households with Māori and Pacific peoples are more likely to experience this energy hardship.

“Our whānau are freezing while these energy companies rake in tens of millions of dollars, 1600 people die every winter in Aotearoa because they cannot afford to keep warm.”

“The reality is that the current market allows electricity oligarchs like Genesis Energy to continue profiting off the backs of everyday New Zealanders,” said Te Pāti Māori Co-Leader, Rawiri Waititi.

“The government must urgently intervene to prevent this disgusting level of exploitation, ensuring that prices are fair and that energy providers operate with the wellbeing of all New Zealanders in mind—not just the corporate bottom line.

“Te Pāti Māori will not stand by while corporate greed dictates the cost of living in this country. We will invest in renewable energy and take urgent action to ensure no whānau are left in the cold while executives cash in.

“We will put an end to the price gauging practices of these electricity oligarchs, as well as all other the other oligarchs that profit off our misery,” concluded Waititi.

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