Energy Minister Megan Woods to consider regulator's powers amid calls for structural reform of electricity sector
23 Dec, 2020 04:30 AM
4 minutes to read
The Benmore Power Station, one of a string of South Island generation assets owned by Meridian Energy. Photo / Richard Robinson
Energy Minister Megan Woods will examine whether the electricity regulator needs new tools after a major investigation found a lack of competition in the wholesale electricity market led to prices being higher than they should
have been in late 2019.
Although the report deliberately stopped short of blaming any company, the complainants that led to the investigation said the regulator had effectively pointed the finger at Meridian Energy, which spilled more water than necessary at Benmore, raising prices for the entire market.