Union urges politicians to back public ownership of electricity gentailers

The New Zealand Council of Trade Unions (NZCTU) is urging political parties to adopt a bold policy to bring the country’s electricity gentailers back into full public ownership, arguing it is essential to lower power bills, protect jobs, and secure New Zealand’s manufacturing future.

Under the plan, the government would progressively purchase the remaining private shares in the gentailers using dividends from its existing stakes, eventually regaining full control.

NZCTU President Richard Wagstaff said the partial privatisation of the electricity sector had led to “manufactured scarcity,” rising costs for households and businesses, and record profits for shareholders. He warned that families were being forced to make sacrifices to cover heating bills, while workplaces were shutting down due to soaring energy prices.

Economist Craig Renney added that electricity should be treated as a public utility, not a profit source, and that public ownership would allow the sector to prioritise economic development, resilience, and the green energy transition. The union has called on political parties to commit to the proposal, warning that without reform New Zealand faces accelerated deindustrialisation, job losses, and worsening energy poverty.

Image credit: Sigmund