Wednesday 9th December 2009 |
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Energy Minister Gerry Brownlie has adopted almost every major recommendation for electricity reform and gone further.
At a briefing in Wellington today, Brownlee outlined the government’s response to the Electricity Technical Advisory Group report.
Among major changes: Meridian Energy cedes the Tekapo A and B hydro stations to Genesis Energy and gains the Whirinaki diesel fired station; ‘virtual assets swaps’ for North and South Island power between Genesis, Meridian and Mighty River Power to shake up retail competition; and a compulsory hedge market. Details to come.
Businesswire.co.nz
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