New rules needed to help pay for electrification, says Vector

Lines companies will need to lift their capital spending to meet the demands of more electrification. (Image: NZME)

Fri, 28 Oct 2022

The large amounts of capital spending needed by lines companies to cope with increased electricity demand means regulatory regime reform is needed to allow the money to be raised to pay for it, says Vector chief executive Simon Mackenzie.A report on the electrification of the economy by the Boston Consulting Group (BCG) this week said in the next eight years $42 billion would have to be spent to get to 98% renewable electricity generation by 2030.Of this, $10.2b would be for new generation capacity; $1.9b in new flexible generation and demand r...

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