INDEPENDENT NEWS

Statistics Show Electricity Prices Skyrocketing

Published: Sun 10 Dec 2006 12:58 AM
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Statistics Show Electricity Prices Skyrocketing
"Statistics New Zealand revealed recently that electricity prices were 6.6 per cent higher in September compared with the same time last year. Power prices have been rising faster than the rate of inflation since the Labour government came to power," fumes Greg Balle, Libertarianz Electricity Spokesman. "Energy consultant John Noble says prices have risen 40 per cent in real terms (faster than inflation), in the last six years."
"Shortages and rising prices are classic hallmarks of socialist economies," Balle explains. "Isn't it time New Zealand electricity consumers pulled their heads out of the sand and accepted the overwhelming evidence that the state-dominated electricity market is not free, not fair and most of all simply not working? Electricity users in NZ need real competition, not Labour's 'choice of any provider as long as it's the state' approach. Electricity regulation is getting us nowhere."
As well as the red tape around electricity providers and line companies, the RMA is a huge barrier to new electricity infrastructure, Balle said. "Modern life and nearly all commerce is dominated by the need to have access to reliable, affordable electricity. The supply of this essential commodity is far too important to be left in the hands of a few power-drunk bureaucrats."
"A Libertarianz government would completely deregulate the electricity and energy markets and ensure that the state got completely out of the way. Innovative electricity providers (in a low taxation environment) would then have powerful incentives to explore a myriad of creative solutions to satisfy market demand." Balle concludes, "A fair and free market would quickly be established, ensuring all power consumers could get the power they need at lower prices."
ENDS

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