Labor promises cap on electricity prices

Labor promises cap on electricity prices

The Government is planning to impose cap-and-trade prices on power sup예스카지노plied over its network of 100 gigawatt-hours of generation.

The Government will introduce legislation to cap the wholesale price of electricity at 2¢ per kilowatt hour when it launches the scheme next year and 5¢ per kilowatt hour when its scheme is finalised, Energy Minister Josh Frydenberg said.

Mr Frydenberg said the price-of-power system will not be fixed but would be a matter for the Government to negotiate with industry and suppliers.

“I 바카라사이트think it’ll be something that the industry looks to be more likely to negotiate with,” he said.

“I think that’s one of the concerns that we have for people that are lapronxooking at it in terms of what will the market look like under those circumstances?

“So that’s something that we’d like to get on it as quickly as possible, and be in position to talk about it with the industry in January of next year.”

The power supply portfolio

New Zealand’s Power Networks is an industry-led organisation that provides power supply planning services to the electricity sector. It has approximately $13 billion of contracts to meet grid needs across New Zealand.

We’ve set a target that we would like our supply network to meet by 2016.

– Energy Minister Josh Frydenberg

The first step, which will see a national network of power lines to ensure that all New Zealand electricity is delivered efficiently and rapidly, was announced earlier this year.

The Government plans to establish a national network of grid interconnection points, to enable new projects to start on the same day, and to cover the bulk of the remaining needs of New Zealand electricity generation, including to deliver energy storage.

Mr Frydenberg said the Government wanted to establish a network for as early as 2019, and the first step would be to put in place grid interconnection points to facilitate this.

The Government hopes that these interconnections will become vital for supporting other national development projects, such as the $8billion West Coast Link project, or the New Zealand Power Research Centre to create the country’s first superfast superfast network.

“If people look at it as an industry, and say that we were the first country to do this, and we want to be the best, then that’s what we’ll be looking at as far as where are we in relation to infrastructure investment,” Mr Frydenberg sai