The 'Electric Election': energy policies, side by side
While the potential implications of the Bill are wide-ranging, our submission has focused on the potential implications for the electrification of Aotearoa NZ if the Bill is enacted as proposed. This is pertinent to Rewiring’s work, because one of our core aims is to help reduce energy bills for customers - NZ’s households, farms, and businesses. Significant changes are needed to fix the status quo, and we are concerned that the Bill may inadvertently bake in the existing rules governing the sector.
We thought it would be helpful for us to focus on practical examples of how some provisions may play out in Aotearoa NZ’s electricity sector. The matters raised in our submission primarily relate to:
1. The provision for companies or individuals to require ‘fair compensation’ for impairment of property, which may result in unintended financial windfalls for some, and future governments being less likely to develop new policies of public benefit due to concerns about the financial risks of litigation.
2. While the Bill seeks to ensure fairness in regulatory decisions, there is a risk it may place greater emphasis on commercial impacts than on the benefits that reforms can deliver to consumers, such as lower energy costs, improved services, and increased choice.
These elements of the Bill may inadvertently impede the transition to a more localised energy system, which will result in higher costs for NZ households, businesses, and farms.
BloombergNEF says sales of combustion cars peaked in 2017 and there's no coming back, while a new study in New Zealand shows petrol vehicles were losing value more quickly than equivalent models did a decade ago; big batteries aren't just for storing electricity, they can also store heat; the story of the world's biggest electric ferry and the Australian company that made it; electric motorbikes are doing a lot of heavy lifting on emissions reduction, so why don't they get more attention?; and a new show called HallowGreen2 that tackles the energy transition "with music, humour and a hopeful message”.
Read moreDownloadRNZ's Kate Newton looks at why no-one is really talking about emissions as an election issue. As Mike Casey said: "The climate movement up until this point has been very, very good at creating dartboards, but terrible at providing people with darts to play the game." That's allowed for inaction, and active lobbying against climate change action from fossil fuel companies and others who stand to lose out ... The solution is "flipping it into a strong economic narrative that they can't possibly fight with".
Read moreDownloadHumans are comparative creatures and they're particularly comparative during election season. That's why we've created a rundown of all the energy-related election policies that have been announced by the parties so far.
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