Wednesday, 25 August 2010

Extension cord needed

Here's the ultimate lunacy of Max Bradford's privatisation of New Zealand's electricity industry. The state owned generator and retailer Meridian is building wind farms and solar power projects - in Australia and the US.

Wait a minute, weren't they set up to provide power for New Zealand? Well, not really - it seems that their primary duty is to provide returns for their shareholders. Besides, if they don't develop new generation in New Zealand, the existing power becomes dearer - and their profit rises. Good, eh?

So if you want some of the electricity that Meridian are investing the NZ Government's capital into, you'll need a very long extension lead.

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