Labour’s Parker affirms plan to regulate power market, stamp out ‘super-profits’

Thu, 16 Jan 2014

By Suze Metherell Jan. 16 (BusinessDesk) – A Labour-led government will make good on its promise to regulate the electricity industry and stamp out ‘super-profits’, a threat that has weighed on power company stocks, deputy leader David Parker says. Labour and the Greens unveiled plans to overhaul New Zealand’s electricity market on the eve of the government’s MightyRiverPower selldown last year. The operator of nine hydro stations on the Waikato River has traded below its $2.50 IPO price since just after the sale last May. Meridian Energy, s...

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