Govt's pumped hydro scheme 'disturbing, dreamland' project - Mercury

Thu, 24 Sep 2020

The government’s pursuit of a $4 billion-plus pumped hydro scheme in Central Otago is a “disturbing blast from the past” and the idea that it will deliver lower power prices is something from “dreamland,” Mercury NZ shareholders heard today.Director Patrick Strange, a former chief executive of national grid operator Transpower, said the government “completely lacks” any discipline as an investor.Australia’s energy sector shows what a “shambles” government intervention can create and he...

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