By Chris Hutching
Friday 2nd May 2003
|Text too small?|
Environment Minister Marian Hobbs has granted the company the state's most draconian powers to acquire property as a "requiring authority" under s167(4) of the Resource Management Act.
The change was gazetted last week. Compensation will be determined by a valuation tribunal, based on valuations of neighbouring properties, rather than on a "willing buyer, willing seller" basis.
State-owned Meridian, producing 30% of the country's electricity and 70% of its hydro generation, is understood to have reached accommodations with most landowners in the Waitaki River area affected by its scheme.
The Waitaki River is one of the largest in the country and Meridian's controversial proposal involves diverting two-thirds of the water in the lower reaches into a series of canals for power stations and irrigation.
Meridian's Waitaki River generation system includes eight power stations beginning at Lake Tekapo (22% of the country's hydro generation with 800GWh of storage capacity), linked by canal to Lake Pukaki (with 44% of the country's hydro generation with 1600GWh of storage capacity), then to the Lake Ohau station, Lake Benmore and the Aviemore and Waitaki stations.
No comments yet
Heartland Market Update
Steel & Tube Fy20 Trading Update
Further Contract Win Strengthens Scott Technology’s Position In Mining Sector
China’s Assertiveness Is Becoming a Problem for Its Friends, Too
New Talisman - Chairman’s Address to AGM 2020 August 6, 2020
T&G reports its 2020 Interim Results
Gold price hits $2,000 for first time on Covid
TruScreen strengthens its market presence in central and eastern Europe
Refining NZ announces non-cash impairment
Ryman Healthcare COVID-19 update Victoria