Meridian Energy says household electricity bills could increase by up to seven percent this year, driven largely by rising lines and transmission charges rather than wholesale energy costs.
The company reported a half-year profit of $227 million after a loss the previous year, with chief executive Mike Roan stating that regulated infrastructure costs set by the Commerce Commission were higher than expected and would continue flowing through to consumers over coming years.
While Meridian says energy price increases remain close to inflation and the company has worked to cushion customers from volatility, network-related charges must largely be passed on.
Roan said government plans to introduce liquefied natural gas imports, alongside existing reserves and demand-response measures, should help reduce electricity supply risks during dry years, with forward wholesale power prices already easing as new investment and generation projects progress toward Meridian’s target of multiple developments under construction by 2030.
Image credit: Kittenprint
The effects as what happened in europe by installing windmills & solar that fails to deliver while not making more dams or other reliable sources of generation our power bills will increase every year by larger percentages,great
Imagine waste to energy and widespread adoption of household solar both of which would remove the need for those horrible wind farms while reducing the demand for landfill.
Yet somehow somewhere the government stepped in and viewed things through the lens of the company waste management and thought their might be a negative impact on their business….never mind the lack of competition and harm it’s doing to this economy
This govt, like the previous govt is pursuing the unaffordable green energy delusion in the name of Net Zero. Luxon and his climate alarmist, Simon Watt, are all in copying the very same disastrous experiment in the Uk, Germany, where power is so expensive that pensioners freeze to death. These destructive policies are well supported by the corrupt MSM who have made it their mission to corrupt its audience with pure propaganda. It’s a giant Con Job.
Just another player in the Corporate Fascist Agenda to deliberately impoverish (wealth transfer) we the people of the Collect West.
Ban lpg stoves and water heaters and bar heaters in new homes, sell the dream of ev’s being cheap when there just poisoning the planet and once your all reliant on power… Boom up it goes
The goal is that we cry out for alternative means of generating electricity, after which the “powers that be” will try to control the narrative and propaganda so that the people settle for what earns the globalists the most money and control
How can network costs rise when the network and it’s primary infrastructure is already in place???
Maintenance is routine, and the only facet of that to rise is paying the workers a livable wage.
How many utility companied will continue to be allowed to rip us off while their CEO’s get millions of dollars in salaries, pay-offs, and golden handshakes while they plan their exit when World War Three goes nuclear?
No, this situation is reflective of the pigs raiding the trough before they are led-off to the slaughterhouse or in the case of human pigs, to their D,U.M.B.S.
Yep, the slithering corporate-heads of the nz power conglomerate gotta double their property portfolios in the seychelles and bahamas somehow
Meanwhile we have had the most unscheduled power outages in the past year while paying ~$1000 per month