Govt's energy move in response to shortage is ‘baby steps’, Vector says

Lines company Vector is cautious on the idea of going into electricity generation. (Image: NZME)

Wed, 28 Aug 2024

The Government’s moves to address the energy shortage are just “baby steps”, Vector chief executive Simon Mackenzie says.On Monday, ministers announced a range of measures to deal with concerns about a lack of fuel and higher wholesale prices.Among them was a proposal to loosen restrictions on lines companies owning and running generation, with the seeming policy intent of increasing the pool of generators in the market.The 1990s reforms ended up with lines companies restricted from retailing and limited in generatio...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Energy

Pioneering solar company put into liquidation

The company appeared to have big backers but BlackRock seems to have pulled the rug.

Ian Llewellyn 7:40pm

Markets Market close

NZ sharemarket falls 0.6% after Monday's surge

The S&P/NZX 50 Index closed at 13,113.19, declining 82.89 points or 0.63%.

Graham Skellern 6:25pm

NZ sharemarket falls 0.6% after Monday's surge

Policy

Trump pledges tariffs on Mexico, Canada and China

Move indicates Trump will follow through on tough campaign rhetoric.

The Wall Street Journal 2:00pm

Trump pledges tariffs on Mexico, Canada and China

Sponsored

Electric vehicles charge ahead for summer road trips as Z Energy boosts network

Expanded charger network makes long-range drives easier.

Z Energy

Sponsored

Culture strengthens Māori business

Collaboration and culture offer strength in turbulent times.

BDO

More Markets

Markets Market close

NZ sharemarket falls 0.6% after Monday's surge

The S&P/NZX 50 Index closed at 13,113.19, declining 82.89 points or 0.63%.

Graham Skellern 6:25pm

Markets

Rocket Lab nabs Biden funding

Rocket Lab has hit a milestone by launching two Electron rockets within 24 hours.The New Zealand-American firm also said on Tuesday it had finalised US$23.9 million (NZ$41.3m) in Biden administration “Chips Act” funding.Proposed recipients of funding under the legislation, design...

Staff reporters 3:30pm