Rapidly increasing prices for electricity are sending some businesses broke. Hundreds of jobs will be lost and those on limited incomes will face a difficult time before the winter is over.
In the meantime Meridian Energy has posted record profits of $425million last year – four times the profit of the previous year and has reportedly paid more than $100million to Ngai Tahu and about a further $80million to other groups who were likely to oppose the generation company’s applications to Ecan to continue operating.
While financial assistance with mitigation measures for major new projects is normal, Meridian’s operations are not new and this crosses the line into bribery, co-governance and questions of sovereignty over water. It is little more than extortion. It is inconceivable that Ecan will not renew consents for long established essential power generation. It is consumers who pay for what are little more than thinly disguised bribes. It is past time for shareholding government ministers to step in the stop the nonsense.