Simon Bridge’s letter to petrol companies warning them they have been too slow to cut their prices is no way to regulate an industry or hold the oil companies to account. It’s also a blatant admission New Zealand motorists are being overcharged, says Labour's Energy spokesman, Stuart Nash.
“I’m surprised the Energy Minister thinks a warning letter to these companies will achieve any results at all, or is the right way to ensure transparency and accountability in an industry that doesn’t have the best reputation for openness and honesty. Kiwi motorists deserve a much higher level of transparency on fuel pricing and now is the time for action, not words.
New Zealand’s petrol retailers and importers must start passing on savings to Kiwis motorists following the dramatic drop in the price of crude oil, Labour’s Energy Spokesman Stuart Nash says.
“It is great news for Kiwi drivers that the price of petrol is falling. However, New Zealanders have been paying far too much at the pump and it is time retailers and importers rectified this with a permanent margin correction.
Energy Minister Simon Bridges needs to stop ducking for cover about whether or not the Government will support plans to nationalise and then privatise $2.1 billion of shares in the Auckland Electricity Consumer Trust, Labour's Energy spokesperson Stuart Nash says.
“It has emerged big business groups are meeting in private this afternoon to try to pressure the Government to introduce legislation to nationalise the shares that are currently owned by the people of Auckland through the AECT.
While Electricity Authority figures showing geothermal has risen from the fourth to the second highest source of power generation are a promising sign for a geothermal renaissance, there can be no cause for complacency, Labour’s Energy spokesperson Stuart Nash says.
“New Zealand has a history of technological innovation in geothermal generation, with a resurgence in its use as an energy source over the past decade. The Electricity Authority figures are evidence of the growth of geothermal and it’s encouraging to see we are well on our way to being a world leader in this area once again.