Government may intervene as power prices double in three weeks

Summarised by Centrist

Wholesale power prices in the country have doubled in three weeks, prompting Associate Energy Minister Shane Jones to consider regulatory intervention. “The gentailers no longer operate in New Zealand in a way that enhances competitiveness,” Jones said. With hydro lake storage at 57% of normal, major energy users are at risk, and the government is exploring measures to address market deficiencies.

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