INDEPENDENT NEWS

Genesis sale will make electricity less reliable

Published: Wed 26 Feb 2014 01:14 PM
Genesis sale will make electricity less reliable
Power stations owned by Genesis will not give a steady revenue stream, in comparison to those owned by Meridian and Mighty River Power.
The gas and coal-fired power stations are turned on and off whenever needed to make New Zealand’s whole electricity system reliable. This happens when hydro lakes are low, or the wind isn’t blowing, or when demand gets very high.
Reliability is a public policy matter – not a profit centre valued by investors.
Government should therefore retain 100% ownership of Genesis, and manage their gas and coal-fired stations to ensure the rest of our electricity supply is reliable.
Shortages are profitable, so private owners will not share Government’s concern for reliability. Trying to wring profits from Genesis can only make New Zealand’s electricity less reliable and more expensive.
Ends

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